Opening a Business with Tax Identification Number (TIN)

H

H1Biz

Registered Users (C)
Hi Everyone,

This could be a question already answered but would appreciate if someone can answer it in a very simple language:

I understand that i need to have some identification to open a company and then to receive the EIN? Can i open a company on my wife's name - she is on H4 and has a valid TIN #. Should this suffice?

As the incorporator, can she sign financial documents - no working for the company, no taking decisions but only signing financial documents under the CEO guidance (i should be able to prove that the CEO asked her to sign this)

i intend to nominate a CEO who will be in India most of the time. In such a case can i use my apt. address as the official business address even though the CEO/ employees may not even come there once a month - how would in such a case you prove to USCIS that you did not work in this company while at the same time you use the apt as the official business address. This means that cheques, etc. arrive on this address and as there are no employees, i have to ensure proper depositing these in the right banks (is this working for the company?)

I would appreciate your utmost guidance in this matter.

Thanks.
 
thanks JoeF,


Assuming that i do carry out most of the responses you provided, a quick query -

I understand you have to be in the state where you incorporate otherwise hire a registered agent to work for you in that state. typically you have to provide this registered agent with your business address. Does this business address have to be the one of the CEO. as this is a startup i dont think it can afford to have a office right now - i am expecting the ceo to run it from his home-office. please clarify.
 
making payment to the CEO

Who pays the CEO? I mean who actually signs the salary cheque of the CEO? As i understand a person on H1 opening a company cannot conduct financial transactions - so how does the CEO get paid finally for managing and running the company?

Can someone clarify this for me? thanks.
 
Thinking will change if you have a million $$ business

If i have a million dollar business (100% ownership) and i hire a CEO to run it for me, as most rich people do, Do you think i would let a dumb CEO make stupid decisions?.I would first pass a resolution to have a share holder meeting everyday.And in that meeting i as a 100% shareholder make all the decisions and have my CEO execute them.
When i am rich, CEO is just a paid employee for me just like a janitor. Just as i tell my janitor where to sweep every morning, i tell my CEO what to do everyday.
Its INS duty to separate truly rich people who have million dollar businesses from cheap immigrants who try to fake all the above just to work or get greencard.

My suggestion to you guys, put yourself in rich person's shoes and think and not like a cheap immigrant.When you try to satisfy a particular visa requirement, it looks suspicious to INS. If the visa looks tailor made for your situation, thats what INS or IRS or whatever is looking for.
People who came on F1 will remember that dreaded question "will you come back?". The visa officer will assess if you are trying to fit in F1 requirement just to go to USA or you genuinly want to study in US and have sufficient funds.
Same thing here.Do you really have money and skills to invest or are you simply looking to start a small business to replace your paycheck?.

Remember, PASSIVE INVESTORS can manage their portfolios.And portfolio can have any asset class(Businesses, real estate, paper assets like stocks, bonds).
 
Its my belif that you will never rise above your thinking

You may know about immigration law, Mr.JoeF but i am afraid you dont have much financial intelligence.Let me explain about the investing.
There are 3 and only 3 asset classes in the world of investing.
They are:
1).Paper Assets
2).Real Estate
3).Businesses

As an investor, you can manage your portfolio your self or hire someone to manage it for you.
1).Paper Assets: You can do fundamental and technical analysis on the stock that you intend to add to yourportfolio. You can collect dividend and deposit it in your bank account.You can buy PUT options or sell CALL options as an insurance to protect or hedge yourself.

2).Real Estate: You can work with your real estate agent, mortgage company and property management companies to ADD a good single family house of apartment houses or a commercial complex etc to your portfolio.Now when you do that, you can hold that piece of property in LLC as an insurance to protect yourself from liability.You can decide on a good property management company by interviewing a few.

3).Businesses: Similarly, you can ADD motels, subways or dunkin donuts shops to your portfolio or ADD some computer startup companies to your portfolio. Now you can hire CEOs in case of a corporation or managers in the case of LLCs to manage them or manage them yourself.You can interview them yourself and hire and fire them as 100% shareholder. A friend of mine owns a subway, he has an american working as a manager.he goes inside and observes how the business is running etc and if he has a suggestion, he tells the manager and the manager takes care of it.the manager will not say, you are just a passive investor, you cannot run the subway.If he says that, my friend as a 100% share holder will vote to fire the manager at the next shareholders meeting which is every day.
Look, if i own 100 shares of microsoft, i cannot call up Bill Gates to tell him what to do.but i own 100% of microsoft, you can bet bill gates would be eating out of my hands.

To get the big picture, i read the below book.I am just making a suggestion and i am not endorsing it.Its upto you guys.

Rich Dad's Guide to Investing: What the Rich Invest in, That the Poor and the Middle Class Do Not! -- by Robert T. Kiyosaki, Sharon L. Lechter; You can get it on amazon.com
 
Sure Mr.JoeF, whatever you say.

My postings offer optimistic views to this messageboard. Otherwise, you will dominate with your pessimistic views.Its upto the would be entrepreneurs to be realists and take their efforts to the next level by consulting professional entrepreneurs, attorneys, CPAs etc.
If i did not post here, you will terrorize people with your negativity.Thats exactly what communism is all about.Communists want to spread fear to control people because they themselves are letting their brains take over by fear.
Capitalists or realists or eagles (you know now why USA national bird is eagle), know both greed and fear and manage those emotions realistically.
I am glad my messages are reaching those brave entrepreneurs who will learn to manage risk and provide more jobs, housing, investment oppertunities to those who dont want to acknowledge that risk can be managed.
I am sure all this is way beyond your scope of udnerstanding, so i am not even gonna try and make you understand... :rolleyes:
 
luissanchez13, you are correct. Its in the law. And law allows h1 holder to invest,start a business and works for his business to certain extent(but not full time basis),everything else is false and incorrect. Your optimistic views are definately appreciated by many aspiring immigrant businessman/womens.
 
JoeF said:
What BS. That's a recipe for disaster, including deportation.
Any work, for any employer, including for your own company, requires work authorization. On H1, a person can only be a passive investor. Period. End of story.
Apparently, two trolls found each other. I suggest you go back to your hole.
Click to expand...
Its YOU who should be deported for giving FALSE advice. Go and read the law and then post here. Law allows nominal work.period.
You haven't posted your education yet, I will definately help you to get some minimum wage job. Your jobless years(many) are not helping anybody out here.
 
Joef, I am trying to help YOU here. I see you post on this board endlessly and most of the time gives FALSE advice. It shows that you are jobless and pathetic loser in real life. But if you post your education , somebody can help you to get some atleast minimum wage job. That will stop misery for you and all others here.
 
Its no use

Picaso
No use arguing with people like JoeF. Bears cannot see anything positive.If you notice all his arguements are centred around work authorization and deportation.Two words which can create fear in anyone who reads his posts.
Unfortunately timid people will read his posts and get influenced by him, we cannot help it.But the brave entrepreneurs who are willing to go the extra mile in life to achive something will stop beliving his posts after seeing mine.

Thats victory enough for us.Folks, i have incorporated my corporation and i am willing to answer any questions you might have.I have also received my labor certification recently and i am waiting for a chance to file I-485.I want to put an end to this issue once and for all, i am gonna post my progress of green card process till the very end.You can all see for yourself, that if i get deported or become suucessful businessman.Every revolution seeks the first blood.I am ready to offer mine.
 
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