JoeF Could you please help?

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I am a canadian PR and I have incorporated a company through an attorney in US. During the incorporation I was told that I can be the director of the company and I need somebody else with proper work authorization to work for the company. But now, the associates of my attorney tell me that INS insists that the director of the company should be a legal resident of US. I do not reside in US but in Canada. Now that the company is incorporated and I thought I am good to go ahead with business by hiring someone else, but this issue is driving me crazy. I have spent so much time, money and energy on this that I don't know what to do now. I have searched IRS website and forums, but couldn't come up with a concrete info on whether a foreign national without any visa from US can be the director of a company that is incorporated in US. Do you have any pointers (IRS weblinks or anything of that sort) on this issue? I see everywhere that anyone can open a company but one needs work authorization to work for it. I am not working for my company but yet I am in a fix. Even my attorney says that the change of ownership of the company can't be done because of the same issue. Sorry to pinpoint for your help, but you are an awesome source that I can trust. Thanks for your patience.

ANandAN

PS: If this issue ever get resolved What are the documents I should expect to get from my attorney in order for me to ensure that I have the complete ownership at the end of this transaction? If you could point out any website or relevant information regarding the same, I would really appreciate that. Thanks again.
 
Thanks a ton for your reply...
Actually by "director" I mean the president/chairman of the company. Does a president of the company require work authorization or does he have to be a legal resident of US? I am very clear that I can't work for the company and I don't intend to either. I will hire a GC holder or US citizen for that purpose, but can I be the owner of the company at least? I am being told that as soon as the company comes into existence you should have someone with work authorization to run it. Can't I just incorporate a company and own it then keep it in "hibernate" mode until I hire someone with proper work authorization? Please let me know your comments. Thanks again.
 
Thanks JoeF. I really appreciate your informative reply. I will post in this thread if I come across any other legal matters that are complicated for me to understand on my own.

ANandAN
 
Here's more exact info :

I am giving you this information as i'm doing same procedure for myself exactly and in same circumstances. Live in toronto and managing company in CA

You could hold any position in your US . You cannot pay yourself directly as salary but only as dividend as you're 100 % shareholder. ( for sake of simplicity, i had created another company in canada and us company pays canadian company management fee, and canadian company pays me )

For day to day operations, you have to persons legally authorized to work.

You could form a corporation in any state in US and Canada without having any kind of immigration status. The only thing u can't do without having any status is getting a taxid number or GST number in canada. Only person with valid SSN can do that.

In long term, it's better to create a canadian company and do steps as listed . Later on after a year or two , have yourself sponsored by your US company.
 
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