Starting a new business on H1B

[dpanchigar]

I am currently here on a H1B Visa working for company. I want to start my own business in US. This is just going to be as an investment. Someone else will run and work at the business. I will just get all the profits, the person working there will be an paid employee and could hire more employees. I was wondering if that would cause any violations of INS rules and regulations. All I am doing is investing money to start the business and take profits out of it, but again I want to own the complete corporation.

Thank you in advance.

[dpanchigar]

So, I guess I can pretty much register for a new corporation, me being the principal officer, apply for a new TIN from IRS and have the business running without violating any INS rules....Correct me if I am wrong
Thanks

[dpanchigar]

I am planning to have the company solely owned by me, means I guess I am the owner or the principal of the company. Playing no role in company day to day activities, but just collecting profits. In other words, I am registering it under my name, owning it, sharing profits but just not running it.

[saxena]

As per my understanding, any person on H1B can ONLY run a business in his/her area of expertise. If H1B is in Software, then you can only open/run a company in that sector you cannot have a franshise of McDonald or Burger King.

Check FAQ's of this site which voice same argument.

Disclaimer: I am not an Attorney. Consult appropriate lawyers for professional advice.