Selling the LLC on H1B

R

roaringstorm

Registered Users (C)
I am aware that I can form an LLC while on the H1B, but I cannot directly work in it. But what I am planning to do is, form an LLC and buy some investments through that LLC, and then completely sell the LLC.

My question is, after forming the LLC and making some investments through it, can I sell my LLC and get profits on that transaction?

Please advice.

Thanks.
 
YES

roaringstorm said:
I am aware that I can form an LLC while on the H1B, but I cannot directly work in it. But what I am planning to do is, form an LLC and buy some investments through that LLC, and then completely sell the LLC.

My question is, after forming the LLC and making some investments through it, can I sell my LLC and get profits on that transaction?

Please advice.

Thanks.
Click to expand...
 
Thanks for the response.

One more thing, I want to mention is that I would be the sole authority for my LLC. Can I form an LLC with me as the only sole beneficiary while on H1B?

BTW, have you done this kind of a transaction?

Appreciate your response.
 
You may be a shareholder, but not be involved in operations -
something like you may get the profits (dividends) but cannot write a check on behalf of the organization - thats the rule of thumb.

But in your case you may need to seek professional advice of attorney/ accountant
 
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