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    15 Replies Latest reply on Aug 3, 2008 9:22 PM by Bridge

    F-1 Student Wanting to start or found a business

    charlieshim17 Newbie
      I have short & simple question!

      If there are legal issues I need to...

      a. when I found the business while I am in school

      b. if I have graduated from school....trying to found the company. what should I do to stay legally and to manage the company?

      In fact, I will be graduating in May 2010 with B.S. in Finance

      Help needed!!! I am open to all matters!

      Thanks for stopping by at my post! Have a great day!
        • Re: F-1 Student Wanting to start or found a business
          LUCKIEST Guide
          Student Wanting to start a business

          Tell us more. Take to a lawyer.

          SCORE can help
          1 of 1 people found this helpful
            • Re: F-1 Student Wanting to start or found a business
              nadinew Newbie
              Hey Score. I am holding F-1 students Visa and I set up my own business already and I would like to know that if I open LLC company and let the company that I affiliate with pay an income directly to my LLC company is that ok for doing like this?? I am doing like an invester and I know that I am not allowed to work as an employer or make money to get an income yet but I started to do this business and I can make money but I am not sure it would be ok for my immigration status but I am trying to avoid the legal for protact my immigration status if I would change my immigration status in the future! Do you think what I am doing is it right? I had a tough time for organize everything correctly because I don't have a good idea that what I suppose to do it right and protact me from getting in trouble about immigration or business law. Do yu know how you could suggest me??

              If you know about business law or have sth to suggest me please feel free to contact me at Nadinedirect@hotmail.com

              Thanks

              Nadine
              1 of 1 people found this helpful
                • Re: F-1 Student Wanting to start or found a business
                  LUCKIEST Guide

                  Nadine, Send me an email to odeig@juno.com

                  Lets talk, Include a phone number, LUCKIEST
                  1 of 1 people found this helpful
                    • Re: F-1 Student Wanting to start or found a business
                      nadinew Newbie
                      This is an automatically generated Delivery Status Notification.

                      Delivery to the following recipients failed.

                      odeig@juno.com
                      I can t send my email to yu any way here you can read it

                      Hi

                      I would like to know how to do accounting and I might need to do by myself but I want to consult with accountant about LLC company about Tax preparation and I don't know any accountant in WA but I have noted that Quickbook could help about organize expenses and book keeping right?

                      Please Suggest me if you know how to do all of these things

                      I am looking forward to hear from you soon!

                      Thanks

                       


                      Nadine

                      please read more below as well!!

                       


                       

                      From: nadinedirect@hotmail.com
                      To: odeig@juno.com
                      Subject: Hi Score!
                      Date: Tue, 29 Jul 2008 15:53:30 -0600
                      Hi

                      I am Nadine. I am holding visitor visa for now and I am planning to applying for work permit or F1 student if work permit it won't work yet on next month so, I need to make appointment with my local immigration soon! Before that I came to the us by holding J1 (student exchange visa)for 1 year and my program will be expired on this August and in the same time I set up and started to do my own business until now I applying for visitor visa just for temporary because I need to stay hear and can not come back my country because I have my own business set up already and need to find the right form with local immigration for applying to do the business in legal. so I am having a problem about my immigration and business situation during these time within 6 months I suppose to know that what I have to do with my business and immigration in the right way. I have noted that you probably don't know about immigration law or maybe you know ..but what I want to do right now is I just set up LLC company because my business partner suggest me that I better open LLC company and do it like investment and I will be investor and I won't get in trouble if you will make money in the us even you can not do it in legal Because I am not legally eligible to work in the US and I am an alien visitor. Any way, right now I am trying to resolve the problem and find someone who can suggest me the instruction about LLC company that I just set it up for protecting myself from earning income from the company that I affiliate with Is it true that I could avoid to have a problem about making money in the US by setting up LLC company and get passive income from my YTB (Your travel biz). its kind of complicated but I hope you might understand what I am trying to explain to you. I just want tell me how should I do it right with opening LLC and put my LLC company on behalf of running my travel business not me. Do you know what I mean? like I set up LLC because I want to change from personal to a business.

                       


                      1.) I have started your own home-based business. I will be the owner of your own business, under the "umbrella" that is "YTB". I own your own online travel agency for travel bookings, and I am able to share the business opportunity via "word of mouth" advertising. In other words, I am an "RTA" (referring travel agent) and a "REP" (sells travel stores).

                      2.) My Travel Biz is located in Wood River, Illinois by St. Louis. Our home office is based there and currently has about 400 employees working for us "out in the field." YTB will be the largest online travel company by 2010.

                      3.) With a home-based business, I am able to take advantage of all the tax benefits available for any home-based business, and my travel will now be tax-deductible, because I am in the travel business.

                      4.) I will be sharing the business opportunity with other people, and therefore, will be building an "organization" of people that will be on my team, doing the same thing. They will be selling travel, and when they share the opportunity with someone who would like their own booking engine, I will be joining them on my team.

                      5.) I have met the requirements as far as YTB is concerned to open my own online travel store. I have a SS#, a U.S. residence, and a local bank that I work with but I think I can not give YTB with my SSN# but before that I signed up with this business with my SSN# so, I don't want to give YTB with my SSN# and now after I set up LLC I got my own Tax ID# already but I didn't change from personal to LLC business yet. and I am waiting for YTB send me the instruction and documents that I need to changing from personal to LLC businesses.

                      So, Do you know the way to solve this problem? LLC can help me avoid the problem about immigration?

                      my cell# is 425 -372-8983

                      give me a call tomorrow afternoon( pacific time)

                      Thanks

                      Nadine
                • Re: F-1 Student Wanting to start or found a business
                  Bridge Navigator
                  Charlie,

                  Where are you located and what type of business are you looking to run? Do you have any other experience/skill set besides the finance degree?

                  With a little more information, perhaps we could point you in the right direction.

                  Greg