Question for Jim

[Arun Mehta]

I am currently working with company X on a H1B. I am a minority partner of company Y although I do not work for this company.

As a H1B holder (not of company Y), can I withdraw my profits from company Y? Does my H1B status prevent me from sharing profits of another company of which I am the owner?

 

[Jim Mills]

I believe this would be passive income and therefore permissible

If you were a stockholder (minority owner) of IBM, and IBM decided to pay a stock dividend, you would not need to have an H-1B from IBM to accept the payment. However, this would be very fact specific since it seems that you have the capability of determining whether this "dividend" will be paid. You need specific advice on this.

Jim

James D. Mills
(formerly Jim M)
Atorney a Law
jdmills@justice.com
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