whatsup_sbk
Registered Users (C)
Hi,
My name is Praveen. I am currently on an H1B Visa. Myself and my friend who is also on H1B are trying to setup a company of our own. I will be very grateful to you if you can answer my questions below:
1. Can we setup our own company being on H1B visa status?
2. If so, in what model should we incorporate our company? i.e. an S Corp or an LLC?
3. Can we incorporate in any state or should we incorporate in the same state as we live in?
4. What will be the tax obligations for us?
5. Can we hold positions in our company like President, CEO, Board of Directors, Treasurer etc.?
6. I know that if we set up our own company on H1B status, we should not be actively involved in the company affairs. If so, what is meant by "actively involved" in the eyes of INS?
I will be waiting for your reply. Thanks for reading through, I really appreciate it.
Regards,
Praveen
My name is Praveen. I am currently on an H1B Visa. Myself and my friend who is also on H1B are trying to setup a company of our own. I will be very grateful to you if you can answer my questions below:
1. Can we setup our own company being on H1B visa status?
2. If so, in what model should we incorporate our company? i.e. an S Corp or an LLC?
3. Can we incorporate in any state or should we incorporate in the same state as we live in?
4. What will be the tax obligations for us?
5. Can we hold positions in our company like President, CEO, Board of Directors, Treasurer etc.?
6. I know that if we set up our own company on H1B status, we should not be actively involved in the company affairs. If so, what is meant by "actively involved" in the eyes of INS?
I will be waiting for your reply. Thanks for reading through, I really appreciate it.
Regards,
Praveen