How can we make slry pmts/ legal fees from the capital we will receive from VC's if our incorporated company has 3 non-US execs?

Asked over 1 year ago - New Haven, CT

1) Received commitment on funding.
2) Believe we can incopr. a company in delaware, with a Silent US national, and 3 non-US cofounders. Open a bank account and get an company EIN.
3) But how can we make salary and other payments before our visa statuses come through?

Attorney answers (1)

  1. Evelyn Susan Ginossi

    Contributor Level 9

    Answered . You can pay a non-US firm for legal fees accrued; however, paying salaries to employees who are not yet authorized to work is not permitted until their visas come through. Since it is a complicated issue, and I don't have enough facts to comment further, I suggest speaking to an attorney familiar with business immigration and VC funding in order to structure this portion of your business adequately.

    Please feel free to contact me should you have any questions.

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