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Some questions on starting a LLC on F1 visa

Discussion in 'Start up company issues' started by uniquark, Oct 30, 2013.

  1. uniquark

    uniquark Junior Member

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    I am a full time student (not on OPT) and am planning to start a LLC.
    I know that I can't work for my company. So I asked a friend (a US citizen) to join with me and he agreed.
    So here is my questions:

    1. How much share can I own? Can I own 90'% and my friend own 10%?
    2. Are there any problems with hiring employers if I own 90%?
    3. Can I be the chairman or the president (only to oversee and will not be paid)?
    4. My friend will be the CEO, the managing member. He don't want to be paid. But that is not legal, right? So what is the lowest possible wage for him? Can I pay him only by some shares of the company? He is a member. Is it considered as a self-employment and no need to pay?

    Thank you

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