Is WOSB Open to U.S. citizens Only?

Owned by Rick Lee (Unlicensed)
Last updated: Jun 27, 2017
1 min read

I am unsure of how to proceed. One of the business owners is not a U.S. citizen. Can we self-certify WOSB or must we change our tactics? Please advise how to continue.

 

Does your company have an owner who owns at least 51% of the company and holds U.S. citizenship? If the answer is yes, having a minority owner who is not a U.S. citizen might not be an issue, unless the minority owner has the ability to exercise control over the company somehow.

In the alternative, if your company does not have a majority owner, one or more women need to aggregate their ownership interest to meet the 51% requirement, and one of the owners is not a U.S. citizen, your company will not meet the WOSB Program requirements.



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