What should I be aware of while creating an LLC with a foreign partner?
Especially with foreign partners, you want to be very clear on their role before you get started, as you don't have the same ways to ensure accountability that you do when they're in the office next door. You'll also want to ensure that any legal disputes are resolved where you and the business are located -- do not leave this provision out of your LLC operating agreement!
Best to speak to an attorney who deals with business partnerships and foreign investors to make sure your understanding with the partners is clear, and that you have all of the right legal documents in place.
Nina L. Kaufman, Esq. is an award-winning New York City attorney, edutainer and author. Under her Ask The Business Lawyer brand, she reaches thousands of entrepreneurs and small business owners with her legal services, professional speaking, information products, and LexAppeal weekly ezine. She also writes the Making It Legal blog.