adshah84 Posted February 26, 2020 Report Share Posted February 26, 2020 Hello All, I am thinking to become partner in LLC with y friend who is US citizen and doing business in property buying and renting. i will invest in his purchases. Is there any thing i need to make sure before doing this? Is this allowed? I am not going to be part of buying decisions. Quote Link to comment
User099 Posted February 27, 2020 Report Share Posted February 27, 2020 1 hour ago, adshah84 said: Hello All, I am thinking to become partner in LLC with y friend who is US citizen and doing business in property buying and renting. i will invest in his purchases. Is there any thing i need to make sure before doing this? Is this allowed? I am not going to be part of buying decisions. What is your immigration status? Quote Link to comment
adshah84 Posted February 27, 2020 Author Report Share Posted February 27, 2020 5 hours ago, User099 said: What is your immigration status? I am on H1b Quote Link to comment
gopalakrishnach Posted February 27, 2020 Report Share Posted February 27, 2020 On H1B you cannot be active partner and poke and play part in day to day running the business. You need to just invest and stay away. Better to contact immigration/labor lawyer... Quote Link to comment
User099 Posted February 27, 2020 Report Share Posted February 27, 2020 14 hours ago, adshah84 said: I am on H1b Make sure you have yourself listed as an investor and someone who doesn't work for the company or involved in the day to day activities of the company. If you are married and your spouse has H4 EAD, she/he can be an active partner and you are completely out of the picture. If you you and your friend are investing in the company and the day to day activities, leasing and maintenance are managed by a rental agency then that's fine too. Quote Link to comment
adshah84 Posted February 29, 2020 Author Report Share Posted February 29, 2020 Thanks @User099 Quote Link to comment
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.