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    4 Replies Latest reply on Feb 21, 2016 10:54 AM by santosh.essam

    Can H1B visa holder partner with other to form LLC  or C-corp and be passive owner?

    santosh.essam Adventurer
      1. I am on h1B. I am planning to open a C-Corp with a friend (XXXXX) who has Citizenship. How do I legalize our partnership and can it be 50%/ 50% basis?
      2. How do we deposit initial capital? Will it be a direct deposit? Can I take a loan to invest in the C-Corp?
      3. How do I get my share? For example company makes a profit $1000 per annual, will it to $500? How do I show this when filing my taxes ? Do i need to pay tax on $ 500 apart from Company Taxes?
      4. Also if I have to start anther C-Corp or LLC with another friend (YYYYY) who has his Green card. All the above (1) (2) (3) would be same?

       

       

      Being understood that I can be a share holder when I am on H1B.(So far what all I have done )

       

      I have contacted CPA and got the information to open a C- Corp even though its double taxation which is what he preferred for us since I am on H1b.

      When I asked him for the procedure for legalization of our partnership he said he will have limited access to do that and asked me to contact Attorney for this.

      Please do suggest which one to go with C-Corp or LLC ..

       

      With Friend (XXXX) I think by the time the post reach on blog we would register a C-corp.

       

      Thanks in Advance . Any answers are appreciable.

       

      Thanks,

      Saleem