There has been a lot of recent discussion on an investment by a minor and how it is treated by USCIS, in addition to the corporate issues related. The key factors to be considered are the following:
- A minor can be an investor. This was verbally confirmed by one of the Deputies of USCIS to me personally at the Miami Stakeholders Meeting on July 28, 2016.
- The key component of a minor Subscriber is USCIS’s concern that the investment is not voidable or void.
- Generally, the state law stated in the Subscription Agreement and/or Operating Agreement would apply as to what law would determine the enforceability of the investment contract. This will be discussed below. Independently, I checked with Chinese counsel who acknowledged that a minor is generally under the age of 18 and that a parent can sign for a minor as a guardian providing there is proof of the parent’s capacity.