Published February 17, 2016 We have recently discussed important issues for foreign residents in forming either a Limited Liability Company or Corporation in the US. While there are many important considerations that go into forming and structuring an entity, there are also other issues involved in carrying out business and transactions. First, as we have discussed in the formation articles, an entity must be registered as a business in order to actually carry out transaction

Published February 24, 2016 Previously, the IRS would allow one to simply designate somebody without such governing power much in the way that a Registered Agent operates. It is important to note that with the new requirements, an individual who merely provides funding for the entity does not qualify as a Responsible Party because the individual (or entity) is also required to directly or indirectly control the management of the funds. It is important to discuss with your Att

Published March 9, 2016 Once the Responsible Party has been established, Form SS-4 will ask for an identification number for the responsible party which can be: Social Security Number Individual Tax Identification Number Employment Identification Number (if the Responsible Party is an entity) This is where the process gets much more complicated for businesses that are wholly or majority owned by foreign residents or foreign entities with no U.S. tax identification number. Mos

Published March 16, 2016 Published by the U.S. Department of Homeland Security (DHS) on Friday, March 11, 2016, the final rule is to strengthen and enhance the Optional Practical Training (OPT) program for international students in science, technology, engineering and mathematics (STEM) fields. The final rule replaces the existing 2008 interim final rule, and amends the current regulations at 8 C.F.R. parts 214 and 274a, regarding OPT for F-1 nonimmigrant students who have co

Published April 7, 2016 The New York Times posted the news article “New Jersey University Was Fake, but Visa Fraud Arrests Are Real” on April 5, reporting that a fake university was set up by the Homeland Security Department for a student visa fraud inspection. The operation on Tuesday resulted in the arrests of 21 brokers who recruited students mainly from China and India to the University of Northern New Jersey. Most of the arrested brokers were naturalized citizens and leg

Published April 13, 2016 EB-5 investors will receive a K-1 form from the partnership of their EB-5 investment during tax season. Some investors may feel somewhat confused after receiving this new form and may not understand the content or know what the form is for. Today we will take a quick look at the K-1 form. The partnership uses the Schedule K-1 form (also known as Form 1065 ) to report your share of the partnership’s income, deductions, credits, etc. In the context