Me and my friend lets say A and B, based in USA (Detroit area) are
planning to get into a business with our common friend C and/or his brother D - based
overseas in Pakistan and non-US Citizens. All four of us want to have
the same share in this partnership.
This is all computer based business (related to logistics/arranging
truck load for truckers in USA/Canada). Employees will be hired
overseas and an office will be setup that will be managed by our freinds C/D. A and B
will procure business in the USA, have all the accounting done as well
as manage the bank account in the USA.
How this can be setup? Can someone assist me or guide me how this can be done step by step considering that employees will be paid overseas etc. Thanks in advance.
Contracts / Agreements Lawyer
This is a complicated question with no easy answer. You are definitely going to need legal counsel (you will also need a good accounting firm and relations with a good insurance company) who can help set up an entity that will address your legal, tax, accounting, and employment needs. This is complicated by the fact that you want to have non-us partners. Not all business entities are allowed to have non-US investors per the state and IRS rules. You are also going to want to clearly set up an operating agreement, by-laws, buy out provisions, etc. so that you are all protected as well as when the eventual day comes along that you disagree about how to do something, and it will happen, I guarantee it.
Beyond the initial organization of the company, you have all the implications of immigration and hiring of foreign workers, if ICE will even allow you to bring foreign truck drivers into the US, this is not a terribly specialized skill set (but immigration is NOT my forte, business operations is). You also need to make sure everything is in compliance with state, federal, and US/Canadian shipping and transportation agreements, etc. etc., etc. I want to emphasize, this isn’t going to be easy or cheap to do it correctly and Avvo, or a similar question and answer forum, is not set up to answer these complex questions.
I encourage you to retain a good business attorney/firm as your general counsel who you can go to with this whole endeavor. Feel free to let me know if I can assist. I wish you the best of luck.
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Too easy: not so complicated. You basically want a US entity that has US and non-US members with equal shares.
This is a logistics business, which will have employees and contractors in multiple businesses. You will likely have non-US subsidiaries or branches, with physical locations. You'll want to distribute profits here and in Pakistan. You can do this through salaries or through dividends: whichever is cheaper from a tax perspective.
You'll have to consider three major areas of law: corporate, employment, and tax. You'll have to minimize your tax costs and minimize your employment law risks. These areas of law will differ, depending on the countries you operate in.
I spend most of my time helping businesses set up these kinds of structures to maximize profits by minimizing taxes and complying with local rules through local counsel. Feel free to get in touch at +1 425 351 9455. I'd be glad to give you a couple complimentary consultations to help you get what you'll have to do.
The best way to keep it simple is to hire someone to set it up; though you could figure it out on your own as a startup with a little help.
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This should not be particularly difficult, and it is best to do it right the first time and plan out exactly how the business is going to operate. You will need to set up a limited liability corporation or incorporate this business for any number of reasons including avoidance of personal liability wherever possible. It is also necessary and best to have all of the interrelationships between the various founders sorted out at set up.
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