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    3 Replies Latest reply on Aug 12, 2010 11:50 AM by echofield

    Open a company

    echofield Newbie
      Hi,

      I am going to partner with a China Manufacturer to open a company in New York. The business plan will be creating a product brand and wholesale to the US market. I have the following question regarding opening a company.

      1. For such partnership company, do I need a lawyer or an accountant will be good?
      2. Which type of corporation I should choose (C-Corp, S-Corp or LLC)?
      3. I had consulted with different people, but they advised so differently.
      a. One suggests that I need a Joint Venture, so I should open a company for my own and draft a Joint Venture contract with the China Manufacturer.
      b. One suggests that I can open a company with a partnership contract or selling the shares to the China Manufacturer with an amount.
      c. One suggests that I need a copy of the China Manufacturer's Certificate of Business to open a US company together.
      d. One also mention that there are regulations or requirements to meet for opening a foreign invested company.

      Please, I really need someone to provide me a professional suggestion to direct me to an easy and right way.

       

      Thank you very much.

       

      Best Regards,

      Eddie Li
        • Re: Open a company
          LUCKIEST Guide
          Open a company

          Welcome Eddie, First go to Members page and share some info.

          Then contact SCORE. SCORE is FREE

          Good luck
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          • Re: Open a company
            Tracker

            Eddie:

             


            Giving you appropriate answers with the information that you have here may be difficult. I would start with a lawyer and an accountant. Since you are engaging in international business, having a lawyer will be a big benefit. Make sure you connect with a lawyer who has experience in the import / export business (and, hopefully, experience in China).

             


            Based upon your business plan and the terms set forth by your trading partner in China, your lawyer and your account should be able to give you good advice cooperatively as to the type of legal entity (LLC S-Corp, etc...) you should create and the contracts to draft for defining your relationship with your overseas manufacturer.

             


            I hope this helps.

             


            Doug Dolan

             

            Small Biz Break (http://smallbizbreak.com)

             

            "Simple, Spontaneous, Success"
              • Re: Open a company
                echofield Newbie
                Thanks Luckiest,

                All my mentioned suggestions are provided by different lawyers or accountant. However, each of them suggested so differently. I think I will take your idea to go with a lawyer who has import / export experience.

                 

                If any other can help out a bit with other advise, that will be very helpful.

                Thanks in advance.

                 

                Eddie