Start a company and EAD expires...

R

Raaga1

New Member
Hi Everybody,

I am on my EAD and I have started a company. My EAD expires on Nov 25th. I filed my I-485 on Sep. 20 2001. I am waiting for my approval and didn't file for renewing my EAD.

My question is, what would happen to my company if I don' t receive my approval until my EAD expires.. I have 2 people working for me already in my company. Any ideas ???

Thanks so much for your help.
Raaga1
 
how interesting your case is !

well, I would think the company is OK, the two people can still work for you, but you can't get paid by your own company on a salary basis...

But I am sure your case will be approved soon. Why not apply EAD renewal right now ? you probably can cancel your $120 check later on, plus, why would you mind losing $120 if you have your own business ?
 
Ragaa1

What kind of corporation do you have (S, C or LLC)?

I am a partner (minor) in a consulting firm. I intend to part and start a different consulting company once I get the GC.

As I understand, I can't start an S-Corp on EAD. Is that right? I have an appointment with an accountant this week to discuss the plan.
 
Cannot draw Salary..correct

But, if you can get support of the company filed your GC, nothing like that..

For Corporation:

You can start even S corporation, but on partnership basis, and this venture should be part-time for you

But, if C Corporation, I don't think taht hassle is there
 
I am pretty sure that C-corp and LLC

are ok for EAD.

For S-Corp, ALL stockholder must be GC or citizen as per the rule.

link: http://www.corporate.com/corp_type.cfm#s_restrictions

EAD can do 1099 (SSN) or W-2/W-4, but not S-Corp. I also heard that these rules vary from state to state. So, some states may allow it.

Does anyone know the Delaware state requirements?

Right now, we have a C-Corp. More paperwork is needed for C-Corp. It is counter-productive initially, when you are small.
 
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