Please sign in to post in this forum.

ForumsHome Based Business

Previous Next Up to All Forums

This Question is Possibly Answered

1 "correct" answer available (5 pts) 3 "helpful" answers available (4 pts)
Post a new topic
19 Replies Last post: Jul 2, 2008 12:55 PM by pr0fuse

H1-B holder wants to start a company

Apr 2, 2008 4:29 PM

Click to view penaloco's profile Start-up penaloco 1 posts since
Apr 2, 2008

Hello Everyone,


I am on H1-B Visa and work for a company in US. I understand that I can only for the company which has sponsored my H1-B, but at the same time I would like to start a company for the promoting services I would provide. So the questions are...

  1. Type of company? (Corporation or LLC) Is there any limitation due to I am a foreign citizen?
  2. Since I can not manage my own company, I have to appoint a CEO... can I limit its responsibilities? Does he/she have to be a Green Card holder or US citizen?
  3. How can I draw money from it? Only through dividends?
  4. Are there any limitations on the expenses charged to this new company?

Thank you very much

Best regards,

Tags: money, home_business, new_business Report as inappropriate
Click to view cajawahar's profile Mogul cajawahar 22 posts since
Mar 7, 2008
1. Re: H1-B holder wants to start a company Apr 2, 2008 6:40 PM
in response to: penaloco
first you contact to the embassy from where u are coming, the status of starting a company
there after contact a CPA firm for the formation of the company
Report as inappropriate
Click to view laborvisalaw's profile Professional laborvisalaw 10 posts since
Jan 22, 2008
2. There are immigration law aspects to this Apr 4, 2008 5:04 PM
in response to: penaloco
I would urge you to slow down and consider the immigration law implications of what you are trying to do. While you can open a company on H-1B visa, you cannot work for it. You can only be a passive investor.
http://www.laborimmigration.com/2008/01/s
tarting-own-company-on-h-1b-visa/
At the same time, while you can volunteer for the company, if you will "volunteer" in a position which is originally paid, then you will be considered to have engaged in unauthorized employment. Here's more information on this.
http://www.laborimmigration.com/2008/02/u
npaid-volunteer-work-on-h-1b-h-4-or-f-1-vi
sas/
Report as inappropriate
Click to view seeker's profile Mogul seeker 19 posts since
May 12, 2008
3. Re: H1-B holder wants to start a company May 14, 2008 5:41 AM
in response to: penaloco
I am not sure if H1B holders are eligible to make any profits from additional sources in US. If you cannot receive your profits from that company, why would you open it now and assign a CEO?
Report as inappropriate

More Like This

Legend

  • Open Question
  • Answered Question
  • New content since your last visit
  • Updated content since your last visit
  • Content you have read