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Starting your own firm
- Thread starter jpraveen
- Start date
jpraveen -
yes and no...I am not sure which one but people on EAD can start up either LLC or S corporation.n Sorry for not remembering which is which.
Since I heard about this from RSur. I would suggest you post this thread for RSur and am sure he will tell you which one.
Japanese
yes and no...I am not sure which one but people on EAD can start up either LLC or S corporation.n Sorry for not remembering which is which.
Since I heard about this from RSur. I would suggest you post this thread for RSur and am sure he will tell you which one.
Japanese
jpraveen
You can start your own firm with an EAD but it has to be an LLC. It does not matter from whom you have the EAD. Only citizens or PRs can own shares in S-Corp's. There is a caveat where if your spouse is a PR than you become joint owners of the stock which is ok.
The issue is working full time in your business. When an RFE is issued for Employment Verification at the time of 485 adjudication you need to to show a permanent job (with pay stubs, possibly). You cannot do this from a company you own.
This forum has many threads with detailed description on the type of company you can start.
http://www.immigrationportal.com/forumdisplay.php?s=&forumid=9
I would recommend the advise of a CPA or Tax professional to see if there are workarounds.
HTH
You can start your own firm with an EAD but it has to be an LLC. It does not matter from whom you have the EAD. Only citizens or PRs can own shares in S-Corp's. There is a caveat where if your spouse is a PR than you become joint owners of the stock which is ok.
The issue is working full time in your business. When an RFE is issued for Employment Verification at the time of 485 adjudication you need to to show a permanent job (with pay stubs, possibly). You cannot do this from a company you own.
This forum has many threads with detailed description on the type of company you can start.
http://www.immigrationportal.com/forumdisplay.php?s=&forumid=9
I would recommend the advise of a CPA or Tax professional to see if there are workarounds.
HTH
You can start C-Corp or LLC (Limited Liability Corp.).
When you get Green Card you can convert it to S-Corp.
My 485 is yet to be approved(in processing ) and we have C-Corp Inc. with Fedral Tax ID and State Tax Id and filling Taxes for the last 2 years.
RD Aug 2002
ND Sept 2002
1St EAD - Aug 2002
2nd EAD - Aug 2003
3Rd EAD - filling papers for renewal.
1 FP - Oct 2002.
Wait for Approval.
When you get Green Card you can convert it to S-Corp.
My 485 is yet to be approved(in processing ) and we have C-Corp Inc. with Fedral Tax ID and State Tax Id and filling Taxes for the last 2 years.
RD Aug 2002
ND Sept 2002
1St EAD - Aug 2002
2nd EAD - Aug 2003
3Rd EAD - filling papers for renewal.
1 FP - Oct 2002.
Wait for Approval.