Need Advice, I-485 Pending But Planning To Open Business

L

lesters101

Registered Users (C)
I AM A EB-3, I AM NOT WORKING FOR MY ORIGINAL SPONSOR, BUT OBVIOUSLY WORKING IN THE SAME FIELD AND SAME PAY AND I HAVE NOT FIELD FOR AC-21. WELL, AT HE SAME TIME I HAVE ANOTHER JOB IN A RESTAURANT {WITH EAD} AND I HAVE BEEN OFFERED PARTNERSHIP FOR A NEW ONE THAT MY BOSSES ARE PLANNING TO OPEN SOON. DOES ANYBODY HAVE ANY ADVICE ON WHAT MY STATUS WOULD BE OR CAN I GET IN ANY TROUBLE OR SOMETHING. THIS IS GOOD OPPORTUNITY I THINK AND I WOULD HATE TO TURN THEM DOWN. SHOULD I CONSULT WITH A LAWER. ANY ADVICE WOULD BE APPRECIATED
 
can be a c corporation LP or LLC

Hi,
As far as I know, you can do anything (that is legal as a 2nd job) while I-485 is pending as long as your primary job fits the I-140 description.
in terms of being a partner in a business, there might be other consideration you might have to look at in terms of how you are going to incorporate the business. The only restriction I know of is that you cannot form an S corporation, since that is reserved for GC holders and citizens. depending on the type of corporation/partnership you form may have an effect on your tax liabilty. I would suggest you read up on it over the internet (i'm sure you've already started) before consulting a lawyer or an accountant.
good luck.
 
well the store would not be under my name, i would be getting a pay of course and probably profits. I would be more of a manager with 10%. Does this still fall in the catagory of s corporation or something like that?
I would also keep my original job with my new sponsor.
 
I think so you don't even need coporation just get it on 1099 (Misc) and thats it. You need a corp. when you have lots of employees and lot of transaction in and out. But you should check it up with a CPA.
 
are you investing?

depends on your exposure. If you are investing your time and money, you want to have a legal shield to protect your investment. Correct me if i'm wrong, but a 1099 is for a contract job. The owners can fire you.
If you are going to be 10% partner , get it in writing as a Limited Partnership or C corporation. Both have their advantages.
Do not sell your sweat equity so cheap.. at the end of the day its just business.
 
you can have s corp as long as

The citizenship/resident definition in IRS is totally different than INS. If you have been filing 1040, not 1040NR (or is it 1040NA?) for three years, you are considered resident of US by IRS.
 
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