Legal Question in Business Law in New York

Non U.S. Citizen Buying a U.S. Business

Hi, thanks very much for the service.

This is my situation, im very interested in buying a established Business in New York, im planning to invest around 70,000 to 75,000 dollars, i have b1/b2 10 years business/tourist visa, i already know that im not allowed to manage or direct a business in U.S. but i read that im allowed to INVEST in U.S., i have a cousin, he is my family over there,

he is a resident alien, my plan is to buy the business ME as INVESTOR/OWNER and him as MANAGER/DIRECTOR of the business, the thing is i want it under my name regardless, to have my investment secure, can i have the business under my name as investor and him as the director??? i will not be there residing, i will be visiting every 3 months, he will make all the business responsabilities, let me know thanks!!!!!!!


Asked on 7/29/06, 2:31 pm

1 Answer from Attorneys
Nancy Delain Delain Law Office, PLLC

Re: Non U.S. Citizen Buying a U.S. Business

Different types of businesses are controlled by different regulations concerning foreign ownership; some do not even allow foreign investors. What, exactly, is the business you are attempting to invest in?

THE INFORMATION GIVEN HERE IS GENERAL IN NATURE AND IS NOT INTENDED AS, NOR SHOULD IT BE CONSTRUED AS, LEGAL ADVICE. FOR ADVICE CONCERNING YOUR PARTICULAR SITUATION, CONSULT YOUR ATTORNEY.

Read more
Answered on 7/30/06, 11:40 am


Related Questions & Answers

More Business Law questions and answers in New York