Owning or Investing in a Marijuana Business

small business owner

Photo from Hope for Women Magazine.

With the recent increase in legalization of recreational and medicinal marijuana use, many people have become interested in starting or investing in marijuana businesses. Something to keep in mind, though, is that people who are interested generally need to reside in the states in which the businesses are owned and operated. In Colorado and Oregon, for example, this means that if you would like to start or invest in a marijuana business, you need to have lived there for at least two years before applying for the appropriate business licenses. You may not invest in (let alone start) the business while living in another state or country. In Washington, investors only need to have been residents for three months, but their companies all have to be formed in state as well.

Another major point: no one may buy marijuana in a state where it is legal and take it to another state, even another state where it is legal. This constitutes drug trafficking, a federal offense, which law enforcement officials are on greater alert for due to the increasing number of states that allow legal marijuana use.

These links provide information on individual states’ policies regarding founding or investing in marijuana businesses.

http://www.bouldercountylaw.com/practice-areas/marijuana-business-licensing-faq#cannot-apply

http://www.greenrushconsulting.com/#!washington-legal-marijuana/c1vsw

http://www.northwestregisteredagent.com/growing-marijuana-legally-in-washington.html

http://www.oregon.gov/oha/mmj/pages/apply.aspx

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