Can a Non-Citizen Form a Corporation as Sole Officer and Shareholder?
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.
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