Form with which a corporation may resolve to alter its corporate status top that of a subchapter (S) corporation.
S Corporation With Foreign Shareholder In Houston
State:
Multi-State
City:
Houston
Control #:
US-0046-CR
Format:
Word;
Rich Text
Instant download
Description
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FAQ
There are seven steps you'll complete to start an S corp in Texas. Step 1: Check Name Availability. Step 2: Choose a Business Name. Step 3: Registered Agent. Step 4: Complete Form 201. Step 5: Bylaws and Regulations. Step 6: Obtain EIN. Step 7: File Form 2553.
If you're not a citizen, you must qualify as a resident alien to own a stake in an S Corp. Resident aliens are those who have moved to the United States and have residency but aren't citizens. Of the below, only permanent residents can own an S Corp.
Any foreign individual or company can own a C-corp in the US. It is not exclusively for US residents. Ownership in a C-corp is given out by offering company's stock. Ones who own this stock are the called the shareholders of the corporation.
U.S. citizen can only participate in an S Corp if they are an emigre, meaning they have passed the IRS's substantial presence test or hold a green card.
To start a business in the USA, you do not need legal residency or citizenship. However, if you plan to live and work in the United States (and receive wages from your business while living in the U.S.), you will require a Green Card or visa. The particular visa you need depends on your situation.
Only a green card or meeting the IRS' “substantial presence test” enables an alien to be eligible to be an S Corporation shareholder.
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.
Yes. Non-U.S. corporations, LLCs, LPs and financial institutions must register with the secretary of state before transacting business in Texas. Such entities are subject to state franchise tax and federal income tax on certain income. For more information about federal taxes, visit .IRS or call (800) 829-3676.
Shareholders must be US citizens or residents. The business may have no more than 100 shareholders.