LLC with a non US resident

[Enzo Pazos]

Hello Everyone! I'm planning on creating an LLC with a friend who is not a US Resident yet. He has a work permit, a stable job, and a good FICO credit score. The idea is to start buying properties under that LLC.

My question is: how does it work with the process of getting a loan? Is it easier to buy a property under my name and then transfer it to our LLC? Does anyone know how the taxation for the LLC would be? Since he is not a US Resident, is he still able to receive income and pay taxes through the LLC in the US?

THANKS!!

[Eamonn McElroy]

What is your friend bringing to the table that you don't have and can't get without him?

You should be aware that you're significantly increasing your overhead and administrative costs by forming a partnership with a non-resident alien.

You're going to need a CPA to prepare the partnership returns and perhaps the withholding on the foreign partner while he's an NRA.