Starting a business on H1B

#1
Hi, I know this might have been asked many times, but I did not see a definite answer, so asking again. I am a GC holder and want to start a business with 2 of my friends who are on h1b. I understand that they cannot work for the company, but can be passive investors and get profits.

1) Can someone please tell me how to set this sort of company legally ? Do i need to start LLC or C-corp ?
2) Can I work for free for the company ?
3) If the company makes profit, how are the profits paid to the "passive" partners ?

It would be great if someone can let me know the answers or point me in the correct direction.

Thanks
 
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