Starting an S-Corp with an EAD

[maverick011]

Hi all,
I have a question to all you gurus out there...
Can a person with an EAD and 485 pending, start an S-Corp?
I read that one has to be either a citizen or a resident of US to start one.. will having an EAD suffice this requirement?

I am looking forward to Inc. my self and do consulting in my area of expertise.. which entity would be better? S-Corp or an LLC?

Although it is not really required, it is recommended to have atleast 2 people to start an LLC.. what are your opinions on that?

I am alone and wanting to start a venture on my own, to begin with...

any suggestions/tips would be of great help to me!!

thanks...

[malneedi]

well this is the only country that any one can start their own company. Joe is true on this. The only thing is you have to satisfy your primary employer before you do anything. That means as long as you don't take any salary from your own company you would be alright. with my experience I would suggest better go with an S-Corp.



India Phone Card

[I_AM_1971]

I also had the same question, great its answered.

I have another question.

Can I work for the company my wife started (offcourse with my EAD after 180 days).

Will this satisfy/ violate AC-21 rule?


Thanks.

[vhooloo]

Of course you can work for your wife's company. But what if you get an RFE in I485 stage? They ask for 6 months paystub, tax filings for company etc. Ie if they think company cannot afford to hire/pay salary, they can deny your 485.

[I_AM_1971]

I know about the paystub. We may get some projects and I can be paid through that.

When INS issue RFE, do they ask company details (like companies tax filling) also?

What if I join another small comapany (not my wife's company)?


The situation is.. right now I'm in leave of absence with my current employer. My leave will be ending in 45 days. I've been trying to get some other job(as 180 days have been crossed), no luck yet.

Meanwhile it looks like I may get some small projects which I'm intending to take through my wife's comapany and work it out.

Is there any other suggessions.

Thanks

[masaimara]

Hi,
My processing is going on thru my spouse's application. My spouse has already got his GC and I'm waiting on my approval.

My question:
Can I start a company on my name, take a loan/grant and do business ?

Thanks in advance
masaimara

[masaimara]

****,
Thanks for the prompt reply.

I have the EAD and waiting for 485 approval. I work for a state agency and I do not plan to work for the company I want to start. It is strictly for doing business.

But, as a major share holder, can I earn money thru this company (as I do not have a GC yet) ? Like, can I have money come into my company's bank a/c as earnings ?

masaimara

[masaimara]

****,
Here's the deal:

Start a company on my name but, my spouse (GC holder) would run the business (say for instance a store or buy another company's share which might be a store again). The earnings would come into the company's bank a/c. As I am the owner of the company and do not hold a GC, can I have earnings from the company I own ?

Thanks,
masaimara

[masaimara]

****,
Thanks a bunch.

masaimara

[manish_r0]

on EAD, no. As far as I know, only a PR can start an S Corp. C Corp is a different story.

verify this with IRS though if you can make the election.

[Moses SK]

Hi,

We are on the last stages of my I-485 (FP is done and waiting for our cards to arrive). At this point can my wife who has an EAD start a company in her name? Will this in anyway cause a problem in our GC application. Your response is greatly appreciated.

Thanks in advance.
Moses.