The financial liability of the members is limited, and the formation of an LLC allows members to segregate their personal assets from those of the entity, unlike a pure partnership. Members in an LLC can be individuals, corporations, other LLCs, foreign entities or a mix of any of these legal personalities.
Generally, there are no restrictions on foreign ownership of a company formed in the United States. The procedure for a foreign citizen to form a company in the US is the same as for a US resident. It is not necessary to be a US citizen or to have a green card to own a corporation or LLC.
Every C corporation incorporated in Utah (domestic), qualified in Utah (foreign), or doing business in Utah, whether qualified or not, must file a corporate franchise tax return. C corpora- tion returns are filed on form TC-20.
The basic steps involved are relatively straightforward: Pick a state or US territory to register your LLC. Choose a unique business name. Select a registered agent, with a permanent physical address for official correspondence. File articles of organization with the state's Secretary of State.
You will need to register as a new entity which can be done online .
Only US residents can own shares of an S corporation. Non-residents who want to own shares of a company should consider other options, such as a C corporation. Resident Alien: Resident aliens, also referred to as US residents, can own shares in an S corporation.
Generally, any foreign corporation that is required to complete Form 1120-F, Section II must complete Schedules M-1 and M-2 (Form 1120-F).