Seeking LLC Partnership suggestions?

[curiousdesi]

Hi,
I have a valid EAD and decided to form an LLC
with US citizen as a partner. Current plan is to
stick to my H1-B until I get my greencard and my other partner
is going to manage and I will be more like a sleeping partner.

1. Can we start immediately doing H1-B transfers and new H1s
through our company?
( Is there a minimum number of employees required to start applying for H1-transfer or new H1s?)

2. Let us say we both invested $10K each and my friend (US citizen) is
managing operations. Now that I am still on H1-B is there a way I can defer accepting profits or any money from my own company for few years (Until I get my greencard?)

i.e, Let us say we hired 2 employees (on h1-b) and made a total profit of $10K for the first year, can we just make sure that money stays there in LLC for the first few years.
Once we start dividing the profit I think I need to show that on my income tax and it violates my H1-B?

Whats the best way to handle this?

Can I just mention this cluase in operating agreement that I will start receiving profits or any other income after let us say 2 or 3 yrs after the inception of the company?

Thanks,
Curious Desi

 

[ajiabs]

1. Yes, you can. but it will be difficult and require a lot of documentation, as its a new business with limited history. It is something you should get a lawyer to do.

2. You can receive dividend even when you are on H1B. its is just like you buy 100 shares of MSFT and they paying you some dividend. You would be an investor. Investor can receive profits regardless of visa status.

Good luck.

Hi,
I have a valid EAD and decided to form an LLC
with US citizen as a partner. Current plan is to
stick to my H1-B until I get my greencard and my other partner
is going to manage and I will be more like a sleeping partner.

1. Can we start immediately doing H1-B transfers and new H1s
through our company?
( Is there a minimum number of employees required to start applying for H1-transfer or new H1s?)

2. Let us say we both invested $10K each and my friend (US citizen) is
managing operations. Now that I am still on H1-B is there a way I can defer accepting profits or any money from my own company for few years (Until I get my greencard?)

i.e, Let us say we hired 2 employees (on h1-b) and made a total profit of $10K for the first year, can we just make sure that money stays there in LLC for the first few years.
Once we start dividing the profit I think I need to show that on my income tax and it violates my H1-B?

Whats the best way to handle this?

Can I just mention this cluase in operating agreement that I will start receiving profits or any other income after let us say 2 or 3 yrs after the inception of the company?

Thanks,
Curious Desi