Hi friends,
This is a great forum and a great service. Kudos
However, I'd like to ask the same question that has been asked a number of times on this board to which there hasn't been a satisfying answer. Now, I know the following -
A person holding an H1B can found a company in the US but cannot 'work' for it. I'd define work as anything you do that involves you making direct contributions to the company (other than money of course). What this would mean essentially in practical terms is (OK we all know the law) you cannot have a 8-5 job with your own company and you cannot sign official documents. Other than that, I don't see any other issues. I can work as a volunteer and be a director or chairman too (Ref)
Now here is my scenario, there are two in fact.
1. I own a company in India that is doing well so far. Now we can start subsidiary operations of the same company in the US. We'd have the same directors and officers, just that it would be a foreign company doing business in the US. I can hire an American CEO and have him/her run the show. However, this would mean none of the directors residing in India can make direct contributions to the company unless they travel to the US extensively (on business visas).
2. I would register an LLC here and appoint a US citizen as the CEO. The CEO decides what the company does after consultation(voluntary) with the directors of course. CEO represents our US company and performs/gathers business as usual. He/she is paid incentive based on a pre-decided agreement or he/she could work for free too.
My dilemma is which one would be a better option? Foreign company or domestic one?
I spoke to quite a few CPAs but to no avail. Most of them are not well-versed with immigration laws and I feel they might jeopardize my immigration status. I'd like to know what approach should I take (practically approach; I know most of the rules but do not know the loop holes)? I would like to meet up with someone (CPA, immigration lawyer) with whom you might have consulted or someone reading this. If you were in a similar situation and you were successful in forming a corp, I'd appreciate it if you could reply back. We wouldn't mind making a payment for the services either.
Many thanks
This is a great forum and a great service. Kudos
However, I'd like to ask the same question that has been asked a number of times on this board to which there hasn't been a satisfying answer. Now, I know the following -A person holding an H1B can found a company in the US but cannot 'work' for it. I'd define work as anything you do that involves you making direct contributions to the company (other than money of course
). What this would mean essentially in practical terms is (OK we all know the law) you cannot have a 8-5 job with your own company and you cannot sign official documents. Other than that, I don't see any other issues. I can work as a volunteer and be a director or chairman too (Ref)Now here is my scenario, there are two in fact.
1. I own a company in India that is doing well so far. Now we can start subsidiary operations of the same company in the US. We'd have the same directors and officers, just that it would be a foreign company doing business in the US. I can hire an American CEO and have him/her run the show. However, this would mean none of the directors residing in India can make direct contributions to the company unless they travel to the US extensively (on business visas).
2. I would register an LLC here and appoint a US citizen as the CEO. The CEO decides what the company does after consultation(voluntary) with the directors of course. CEO represents our US company and performs/gathers business as usual. He/she is paid incentive based on a pre-decided agreement or he/she could work for free too.
My dilemma is which one would be a better option? Foreign company or domestic one?
I spoke to quite a few CPAs but to no avail. Most of them are not well-versed with immigration laws and I feel they might jeopardize my immigration status. I'd like to know what approach should I take (practically approach; I know most of the rules but do not know the loop holes
)? I would like to meet up with someone (CPA, immigration lawyer) with whom you might have consulted or someone reading this. If you were in a similar situation and you were successful in forming a corp, I'd appreciate it if you could reply back. We wouldn't mind making a payment for the services either.Many thanks