Introduction to Types of Business Visas in the US

Introduction to US Business Immigration

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Summary of Features - Business Corporation

• There are no residency or citizenship requirements to be a shareholder (owner) or director (except that North Koreans, Iranians and Cubans are not allowed to buy US assets, including US companies. Other international sanctions may apply as well.
• Liability of shareholders limited to amount of capital invested.
• The business corporation is the preferred entity to use for non-residents trading in the United States.
• A completely separate entity from its owners.
• Governed by by-laws, which are largely determined by the laws of the jurisdiction. Many formal procedures must be followed to conform to the corporate statutes.
• Administered by Directors (who are elected by the shareholders for specified terms), and managed by Officers (who are appointed by Directors). Directors are empowered to determine the value of non-cash contributions in exchange for stock in the corporation.
• A citizen of the jurisdiction in which it is formed, and must follow the corporation laws of that jurisdiction.
• Can own shares of other corporations and be a member of limited liability companies, in the same or other jurisdictions.
• Shareholders in a "C" corporation can be US or non-US resident individuals, corporations, LLCs, trusts (domestic or foreign) or other entities. Directors must be natural persons, and are (within limits) personally liable for the actions of the corporation.
• "C" corporations are must file an annual federal tax return and are liable for taxation on their worldwide income.
• A corporation with a non-resident cannot be an "S" corporation.
• "C" corporations are US-tax resident, and can apply for tax treaty benefits to avoid double-taxation using the extensive US tax treaty network.

Summary of Features - Limited Liability Companies (LLCs)

• There are no citizenship or residency requirements to own or manage a US LLC.
• LLCs are not recommended for non-residents who are doing business in the United States, but are an excellent vehicle for trading exclusively outside the US.
• Can be a member of other LLCs or shareholder in other corporations.
• Members can be US or non-US resident individuals, corporations, LLCs, trusts (domestic or foreign) or other entities.
• Managers can be US or non-US resident individuals or corporations, but the laws o fthe different jurisdictions may restrict other types of entities from being designated as managers.
• Enjoys flow-through taxation at the Federal level. Some States tax LLCs as corporations, but New York LLCs, Delaware LLCs, Nevada LLCs and Wyoming LLCs all use flat annual fees instead.