You Have A Foreign Partner in Your U.S Partnership- What Next?

 

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They say life is a series of coincidences. This blog topic had been brewing in my head for many days when I had not one but two prospective clients book appointments on the same day with the same question! "I want to bring in a foreign person as a partner in my U.S. business. Do I need to do anything in addition for tax filing and reporting?"

We have said this here earlier, the United States is an attractive destination for setting up and doing business. If a non-resident individual has an opportunity to invest in an already existing business in the US, that would not be something they would pass on. On the other hand, being able to bring in a foreign partner will give the U.S. partnership additional resources such as access to international expansion networking opportunities and other skill sets that may enhance the partnership's profits in a big way. 

As a foreign investor in a U.S. partnership or as the manager of the U.S. partnership with foreign partners, there are various additional tax and reporting obligations required of the partnership that one should be aware of. 

We will briefly dig into these today:  

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