Many foreign nationals are interested in establishing a business in the US, and foreign investment in the country is a frequent practice. The Limited Liability Company (LLC) is one of the most popular business structures in Texas. But the issue of foreign ownership of an LLC in Texas still exists.
Yes, to answer briefly. In Texas, an LLC may be owned by a non-resident alien, also known as a foreigner. In Texas, foreign ownership of LLCs is actually not subject to any restrictions. But there are several conditions that must be fulfilled.
The presence of a registered agent with a Texas physical address is one of the prerequisites for foreign ownership of an LLC in Texas. Legal correspondence and other necessary mail will be delivered to this registered agent on behalf of the LLC. Before engaging in any business activity in the US, the LLC further needs to receive an Employer Identification Number (EIN) from the Internal Revenue Service (IRS).
A foreign-owned LLC is subject to the same tax laws as a domestically owned LLC when it comes to taxes. However, the foreign owner can be liable for separate taxes if the LLC is considered to be a disregarded business for tax purposes.
It is significant to remember that US tax laws apply to foreign-owned companies as well. This implies that the LLC must submit yearly tax returns to the IRS, whether or not it has generated any revenue. In addition, taxes may be withheld from certain types of foreign owners’ US-earned income.
Having a business in the US does not automatically provide a foreign national the right to reside and work there in terms of immigration. However, other visas, like the E-2 visa, are accessible to foreign people who want to launch a business in the US. On the basis of their investment in a US company, this visa enables foreign nationals to travel to and work in the US.
In Texas, an LLC can be established by a foreign national having a green card. A green card holder enjoys the same benefits and rights as a US citizen when it comes to launching a business because they are a permanent resident of the country.
To sum up, it is possible for a foreigner to hold an LLC in Texas, but there are conditions and obligations that must be fulfilled. To ensure adherence to all relevant rules and regulations, it is crucial to seek professional counsel and direction.