Dear colleagues,
I am a Bulgarian lawyer and I have the following issue. My client has registered a manager operated LLC in Florida. It is 100% ownership of a bulgarian legal entity. The manager of the LLC is a natural person. The initial capital of the company amounts to 250 USD. My client intends to acquire ownership over real estate in Florida through its LLC so he needs to ensure funding from the bulgarian legal entity (the owner of the LLC) to its daughter LLC. How can it be done easily without any legal and tax issues? I would advise my client to make it by increasing the initial capital (additional capital contribution) of the LLC but does it work and how it can be done? Should the money be transfered from Bulgaria to a special account of the LLC? Should we register this additional capital contribution in any register? Are there any tax issues in this case? May the LLC use the money to acquire ownership in the USA and are there any steps that should be completed before that? If I am owner of a company in Bulgaria I have the right to increase the initial capital at any time on my decison by transfering the respective amount to thebank account of the company and afterwards register the increasement in the Commercial register where the new amount of the capital shall be registered. The capital of LTD. (the equivalent of the LLC) is divided in to shares owned by the sole owner of the capital. The owner acquires new shares of the company's capital against the additional capital contribution while the amount becomes company asset and it can be used for acquiring ownership. There are no tax issues. How it works in Florida? Can u also send me links to the applicable legal acts?
Thank you very much in advance!
K.
I am a Bulgarian lawyer and I have the following issue. My client has registered a manager operated LLC in Florida. It is 100% ownership of a bulgarian legal entity. The manager of the LLC is a natural person. The initial capital of the company amounts to 250 USD. My client intends to acquire ownership over real estate in Florida through its LLC so he needs to ensure funding from the bulgarian legal entity (the owner of the LLC) to its daughter LLC. How can it be done easily without any legal and tax issues? I would advise my client to make it by increasing the initial capital (additional capital contribution) of the LLC but does it work and how it can be done? Should the money be transfered from Bulgaria to a special account of the LLC? Should we register this additional capital contribution in any register? Are there any tax issues in this case? May the LLC use the money to acquire ownership in the USA and are there any steps that should be completed before that? If I am owner of a company in Bulgaria I have the right to increase the initial capital at any time on my decison by transfering the respective amount to thebank account of the company and afterwards register the increasement in the Commercial register where the new amount of the capital shall be registered. The capital of LTD. (the equivalent of the LLC) is divided in to shares owned by the sole owner of the capital. The owner acquires new shares of the company's capital against the additional capital contribution while the amount becomes company asset and it can be used for acquiring ownership. There are no tax issues. How it works in Florida? Can u also send me links to the applicable legal acts?
Thank you very much in advance!
K.
Business Ownership: Capital Increase of LLC Registered in Florida
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