Legal Question in Investment Law in New York

I am looking to establish a Start-Up that involves purchasing of real estate / projects in the USA and throughout the world. My question is as follows:

1. Can an LLC found in Delaware purchase assets worldwide?

2. Is there any way to have an LLC that's not limited to 30-50 members? I'm looking for a structure of around 100 members. Is that possible?

Thanks,

Ron


Asked on 6/24/16, 9:19 am

1 Answer from Attorneys

Generally speaking,

A US Limited Liability Company can purchase real estate throughout the US and worldwide, subject to local international legal restrictions, if any.

LLCs are not limited in the number of members. The number of members you are proposing is quite high which indicates that the LLC structure and governing rules would be fairly complex and so you better have a very sophisticated operating agreement for the LLC as well as sophisticated membership interest purchase agreements with each of the members.

I highly recommend that you retain an attorney as early as you can to assist you in structuring the company properly and to protect yourself from any liabilities that may come about as a result of the members investing money in the company.

Contact me directly at: Info (@) TheLegalists (dot) com

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Disclaimer: This answer is based on a limited set of facts and should not be considered as a definitive answer to the legal questions that were presented and therefore the answer should not be construed as legal advice or be relied upon. The answer may contain errors, inaccuracies and/or omissions. You must consult an attorney admitted to practice in your jurisdiction who would have access to the all the relevant documents for proper determination of the legal issues and for specific legal advice. This post may be deemed as Attorney Advertising.

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Answered on 6/24/16, 10:28 am


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