Full question:
Can non-U.S. citizen, who legally has geen card and SS #, start and be the only executive officer and shareholder of good standing U.S. Corporation ?
- Category: Corporations
- Date:
- State: Florida
Answer:
Yes, citizenship is not required to form a corporation and it is possible to be the sole officer and shareholder. A close corporation is generally defined as a corporation owned by a limited number of stockholders, usually no more than 35, who generally are active in the affairs of the corporation. A close corporation is often composed of family members and frequently have restrictions on the transfer of shares. Laws are enacted on a state-by-state basis, allowing close corporations to manage themselves more informally than most corporations, such as allowing decisions without meetings of the board of directors.
For further information, please see:
http://blenderlaw.umlaw.net/wp-content/uploads/2008/09/closecorpstats001.pdf
http://www.flsenate.gov/Statutes/index.cfm?App_mode=Display_Statute&URL=Ch0607/titl0607.htm&StatuteYear=2009&Title=%2D%3E2009%2D%3EChapter%20607
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.
