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    1 Reply Latest reply on Mar 26, 2008 3:41 AM by LUCKIEST

    Owning LLC while on H1B

    sunils Newbie

      Today My CPA told me that I cannot have LLC while I am on H1B status.

       


      What are the implications of this and how to take care ?

       


      Is there any way to change the company type keeping same name and EIN ?

       


      -Sunil
        • Re: Owning LLC while on H1B
          LUCKIEST Guide
          Welcome to this web site. I googled your question
          and get the following answer.
          Hope it helps.
          {noformat}Can a non-resident alien (with an H1B visa) open a business in the USA?

          Yes, there should be no problem with you owning a business as long as
          you take a passive role, receiving only profits from your investment.
          As you know, your work in the U.S. is employer-specific (i.e. limited
          to employment with the approved employer/petitioner) so working for
          your company and receiving any kind of compensation for your work is
          strictly not allowed. Doing a bit of volunteer work, like running
          errands, is permissible, but best done after you have hired an
          employee to run the day-to-day operation of the business.{noformat}