Can one start a company being on H1B visa??

T

techy2468

Registered Users (C)
i almost can feel that the answer is NO, since the new company will have to sponsor my H1 visa.

infact my second question is: can i work for two companies, i think i i know the answer to this, which is yes, as long as both companies hold my H1, and there may be some limit to total hours per week.

so can i start a company in partnership with a GC holder/citizen, i have read somewhere that i can be owner of a company being on H1 as long as i dont take any salary from it, i can have a share in profit though..
 
Yes, you are right about what you said in third paragraph. You can start a company on your own with/without a GC/citizen partner. You cant draw a salaray and but you can take P/L from the company.
 
Ok, If you're on H1-B working for a company in IT field, and you start your own/partnered business, does the nature of businees has to be in IT field as well? And can you apply for GC by yourself via your own/partnered company?
 
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You can start a company but that company cannot sponsor your H-1B

Yes, you can start a company while being on H-1B.

There are many legal structures of the company - to avoid any INS hassles, the most appropriate structure is the "C" corporation structure. Other structures such as "S" Corp; LLC, LLP, sole proprietorship can have INS implications. Also, not, while incorporating the company, you may have to disclose foreign ownership, as you are not a US citizen. Thus, this will be a US company with foriegn ownership.

The company you form, can be in ANY business, as long as it is legal. You can do IT consulting, software development, hospital, bank, gas station, motel, etc.

This company however, cannot sponsor you H-1B. Ask a lawyer, if 100% of stock is held by your spouse, can it sponsor your H-1B? My guess is no, since s\he may be a dependent on your original H-1B.

Also, consult with your lawyer when you should exercise your stock options, if any. Technically, you become a "part-owner" of that corporation.

Regards
GCStrat :)
 
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