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Business While On H1b- Help

Discussion in 'Start up company issues' started by goldeneyes, Jun 14, 2016.

  1. goldeneyes

    goldeneyes New Member

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    Hello Ron,
    I hope you are doing good!

    I am on H1b with approved I 140, and want to start a motel business with two other partners(Both are GC holder).One of the partner owner is my brother in law.
    I just want to invest in this business as a partner owner and take profit. Business will be run by my partner/or by manager.
    My questions are;

    1. Is it possible? Can I start/own this business on H1b?
    2. Can we establish S-corp, C corp or LLC ?
    3. Is there anything I have to keep in mind during this process ?
    4. Can I take K-1 or 1099 for profit? any other options?
    5. Can I put my name on papers in addition to two partner while opening a bank account? Can I sign a check to take profit?

    I really appreciate your help
    Thank you!
     
  2. Ron Gotcher

    Ron Gotcher Attorney at Law

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    You can do everything you have mentioned - provided you do not work for the business yourself.
     
  3. goldeneyes

    goldeneyes New Member

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    H
    Hello Ron,
    Thank you for help.

    1. Can I start as a S Corp as a non citizen( no GC too)? I am asking this question because I read some where that only Gc and citizen can start a business as a S Corp . Please help.
    2. And about taking profit, can h1b holder take K1? I read some where that they can only take 1099. Please clarify
    3. As I mentioned, we are three partner . Can I put my name on paper as a owner/ partner?
    I want to do everything in correct way.
    4. My wife is Ead holder, can she start as a S Corp and take K1?

    As always, I really appreciate you help.

    Thank you very much.
     
  4. Ron Gotcher

    Ron Gotcher Attorney at Law

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    You have to be an LPR or citizen to own part of an S corp, but you may own part of an LLC. You may take profits from the business as a member, but you may not work for the company. Your wife's EAD is of no consequence as far as an S corp is concerned. Go with an LLC.
     
  5. goldeneyes

    goldeneyes New Member

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    Thank you so much Ron
     
  6. sean231

    sean231 Member

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    Hello Ron,

    1. Can a H1B employee work in a EVC (Employer Vendor Client) model wherein the Vendor is a company that the H1B employee is a part of (as an investor / non-working owner/partner)?

    2. In a separate situation -- in a EVC model -- would the Vendor be able to reimburse the H1B employee expenses directly or would they have to be channeled through the Employer?
     
  7. sean231

    sean231 Member

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    Bump!!
     
  8. Ron Gotcher

    Ron Gotcher Attorney at Law

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    As to the first question - no. As to the second, all payments should come from the sponsoring employer.
     
  9. saty

    saty New Member

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    Is it possible for person with H 4 EAD buy a company called company A and run it with the help of board members, and her spouse work for this company A on H1B while his GC sponsored by another company called company B .
     
  10. Ron Gotcher

    Ron Gotcher Attorney at Law

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    If the USCIS knew all the facts, they would deny the petition.
     
  11. saty

    saty New Member

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    Ron, thanks for you reply
     

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