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
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