ForumsStarting a Business

Hi Charlie! If you are an undergraduate student, and you want to start a business, take a course in Business Law and a course in Accounting (if you aren't already required to do so). These two courses are invaluable in getting the knowledge you need to run a business. If those courses aren't offered, check into a local community college and sign up for non-credit courses.

Knowledge is power - information you solicit publicly is opinion unless it is supported with documentation. Law is incredibly complex and can't be explained very easily because there are many different factors to consider and many scenarios that can arise.

If you are in the U.S. on an F-1 Student Visa, I don't think there is a business structure that you can legally create.

The reason is because, with an F-1 visa, you were probably issued an ITIN in order to obtain a refund on Social Security, Medicare, and other employment taxes that would be withheld from your paycheck if you worked in the USA (but that you are not required to pay). Others in this community who've attempted to start a new business under those circumstances were unable to do so using an ITIN and F-1 visa. The IRS, state governments, and U.S. banks required them to have a Social Security Number, and to provide a temporary visa (such as an E-1 or E-2) that allows a visitor to engage in entrepreneurial endeavors.

You can be a member (owner) in a new LLC or a stockholder (owner) in a new C Corporation that is legally organized or founded by someone else (so long as the state in which the business is registered doesn't prohibit ownership by foreign nationals). So there are definitely ways to get into a business that is partially, mostly, or (eventually) totally your own. I just don't think you can organize or found the business yourself with an ITIN and F-1.

Hope that helps. Welcome to the community and best wishes.

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