Posted by JHyre in Ohio on August 16, 2003 at 12:04:28:
No restrictions of which I’m aware for federal income tax purposes - green-card holders are treated just like citizens. There may be some estate tax issues if you check out - not my strongest realm of expertise.
John Hyre
non-US owners - Posted by Dave Starr (CO)
Posted by Dave Starr (CO) on August 16, 2003 at 11:13:45:
I would think this question is simple, but dozens of books and resources on forming a corporation do not address it. My wife and I are considering forming an S corp in the state of Colorado to enable us to formalize and expand a service-oriented business we have launched. I am a US citizen, my wife is a citizen of the Philippines, in the US legally with permanent residency (Green Card).
Are there any restrictions/prohibitions regarding her owning a majority share of the business (51%). We want it divided that way becuase some of the contracts we can obtain favor woman-owned or minority-owned small business. Any restrictions as well on her being a corporate officer?
TIA
Dave