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4 Replies Last post: Jul 25, 2008 5:56 PM by sbpartners

Create a corporation while on TN status

May 26, 2008 8:01 PM

SlyCyr 2 posts since
May 26, 2008

I have a good question for you!

Background: I am a non-resident
canadian citizen on a TN visa (just renewed) working in California (my
wife will be J-1 in a few weeks) and I will start my GC process soon.

My wife and I would like to create a c-corporation in Nevada and
do real estate investing in California as part-time job beside my TN
job (which is not related to real estate investing). Can we do that (immigrationwise, cause taxwise I think it's
great)?

Is it a good idea? Is it the best idea to start a business while on a TN?

Thanks so much!

Tags: tn, visa, corporation, canadian, us Report as inappropriate

EL_DollarShop 45 posts since
May 6, 2008

1. Re: Create a corporation while on TN status May 27, 2008 7:33 PM

From what I understand about foreign investing & ownership, and I'm sure you can look this up. Is that a foreign national may invest in a business but can not be the one that actually sits as CEO, or President of the company within the U.S. not quite sure how deep the wording goes on that one.

Also you are allowed to buy relestate but if you plan to use that relestate for profit other than buying and selling it for profit there is no limitations, but to use it as a place for business to make profit there are rules that apply.

Try IRS.gov you will problly get the straight answers you seek. The IRS is the sole part of the goverment that proceeds over business taxes no mater where your from, but doing business in the United States.

If you do open a business with the consent of the U.S. Goverment, please hire military veterans, and those seeking jobs that are on welfare they need the work!

Good luck

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SlyCyr 2 posts since
May 26, 2008

2. Re: Create a corporation while on TN status May 28, 2008 9:33 AM

in response to: EL_DollarShop

Thank you for the response. My question was more about violating my TN Status than creating a corporation by a foreign national. I read that I can create a corporation as long as I do not "work" for the corporation but only invest in it. I would like to know how "work" in defined. I want to buy rental properties and hire or contract a property manager to manage them. So I would be ok?

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lalithabrahma 41 posts since
Mar 1, 2008

3. Re: Create a corporation while on TN status Jul 24, 2008 9:04 PM

Wish you good luck investing! To the best of my knowledge you might want to convert to H1 B and then process yr Green card, to
avoid problems in traveling on a TN during the green card process. Pl discuss with your immigration lawyer. Every state has different law. You may need to consult with an Immigration lawyer and Realestate lawyer in CA and Corporate lawyer in Nevada. You have two options. One is locate attorneys in these states and get the consultation and then proceed accordingly. Second one
is to pre pay for a membership for an experienced legal services plan
and have access to various lawyers in any area of law for unlimited
consultation in any of the states.
Lalitha
For educational series on how to protect your family and grow your business peacefully visit to www.lalithabrahma.com

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sbpartners 2 posts since
Jul 24, 2008

4. Re: Create a corporation while on TN status Jul 25, 2008 5:56 PM

I do consulting services to Latin American and Caribean companies - entrepreneurs to start up a business in US, from California.

As long you do not work for your coporation you can own a corporation in US.

Working means being hired on a salary base to your company. In other words you cannot be an employee.

You can oversee your "investment" as "owner" meanwhile your daily activities do not go against your current migratory status.

Eduardo

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Create a corporation while on TN status

May 26, 2008 8:01 PM

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