Setting up LLC on H1B visa for rental properties

8 Replies

Hello BP,

I've been following BP for over a month now and I have gained decent knowledge. I thank each and every member of this community for their posts and information. I'm on H1B visa and wondering if anyone from this forum has opened an LLC for managing their rental properties. I know this is a question to a immigration attorney but I would like to know if there is anyone who has done it or doing it so that I can get some guidance going forward.

Also, Is it a good idea to open an LLC if the no of properties I own is less than 4?



Originally posted by @Ratna E. :

@Antoine Martel Any idea about the expenses that are extra if I hold my properties in the name of LLC? Thanks

Nothing besides the LLC costs. Which if you do it in Wyoming the costs for the LLC are minimal.

@Ratna E. - First, you should speak to an immigration attorney about the H1B Visa and creating an LLC. The costs for using an LLC depends on a few things. Are you financing the the properties? (If you do, the terms of financing may be costlier than financing as an individual) With an LLC you will have annual filing fees (usually minimal) and perhaps any costs associated with having a registered agent if you move.

So, ask yourself what is your goal in putting them in an LLC? Then seek expert advice on how to address Those concerns.  Good Luck! and I hope to see you at one of the upcoming meetups in Madison.

@Ratna E. I'm not an immigration attorney, but my understanding is that you can only passively manage your LLC under H1B visa, and the definition of 'Passive' is kind of a grey area. So you will have to weigh the importance of maintaining legal status and potential savings you may get out of a LLC. I would personally prefer to play it safe, especially when you do not have a large number of properties.