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Starting C Corp while on H1B Visa

Discussion in 'Businesses' started by hvalentino, Aug 28, 2012.

  1. hvalentino

    hvalentino Junior Member

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    I am really2 lost here... talk with lawyer and other people they said we can do this but one of the CPA told me that I need to have somebody in the company to run the company as far as now I'm the only president and the owner also I have a full share. can someone please guide me on this? like what should I do so I dont loose my H1B status or getting into a problem?

    Thank you
     
  2. JoeF

    JoeF Senior Member

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    Re: Starting C Corp while on H1B Visa

    On H1, you can only work for your employer. You can not work for any other company, and that means you can not work for your own company, either.
    So, somebody else would have to run the company.
    In essence, on H1, you can only be a passive investor, i.e., putting your money into a company, possibly receiving dividends if the company turns out to be successful (most are not), and otherwise stay out of it. You should have no access to the company premises, no access to the company bank account, etc.
    Think of it like buying stock, e.g., Microsoft stock. If you buy Microsoft stock, you'd become a co-owner of Microsoft. But that doesn't mean that you have access to Microsoft's offices, or to their bank accounts... You would just be a passive investor, investing into Microsoft.
     
  3. fabrizio8

    fabrizio8 New Member

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    You better need to change the status of visa. By having H1 visa you can only investment in the shares of company but not become the owner of company. To become the entrepreneur you must have to change the visa status. I believe those immigration lawyer advised you those made it possible on the change of visa category.
     

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