Starting new business on H1B visa

[ponds1976]

Hello,

My situation is as follows:

I wish to start an e-commerce/internet company. This company/service will help people meet each other and can be used by people all around the world. There will be online revenue aspect to it wherein people anywhere in the world could pay using their credit/debit cards for certain transactions and services. The team will be located partly in India and partly in USA.

I have registered the company in India (with my brother as owner of the company). I am here in USA on H1B visa and working for a software consulting company. I understand that I am not allowed to work for any other company and can only be a passive investor in another company. Is it best for me to just launch the company from India and set it up over there with all the transactions and revenue flowing there. Since it is online, it doesn't really matter where you are. Of course, in order to make it a success here, marketing is required and for that, funding and resources are required. The major market for my venture is USA. What would be the best possible solution for this problem? Should I partner with someone and let him own the company. What should be the structure and salient features of this partnership deal. How could I protect my interest in the company, (other than trusting my partner)? How could I get rid of my day job to work full time on this venture. My green card processing is happening with my current company. Can I file a concurrent green card with this new company as well (along with another H1B from this new company).

What are other things that I need to be concerned about? Any international tax laws that I should be aware of - since anyone anywhere in the world can pay for the services.

Your response to this will be highly appreciated.