Ability to work as freelancer or form Pvt Ltd

[ramnayak1]

I am currently working as a IT (software) Project Manager. I am on H1-B working full time for a consulting company. I-140 is approved with date in Oct 2012. 

A known contact wants my help in developing a website. It will be a year long project. I have few questions:

1. Will it be considered as a conflict of interest? There is no such clause in my consulting company documents. And I am working as Project Manager and ask is for software development.
2. Can I freelance and file 1099?
3. If not, can I form a pvt limited in US?
4. If not, what other options I have to be able to help?

[JoeF]

You can NOT work as freelancer while on H1.

On H1, you can ONLY be an employee of a company that has an approved and valid H1 petition for you.

You can start a company, but you could only be a passive investor, without working for that company in any way, shape, or form.

There are absolutely NO options to do this work.

[ramnayak1]

Thank you for sharing the details JoeF. I appreciate it.

One final thought.... what if I open a company in my family or friend's name in my native country and show it as work done by someone as freelancer over there? 

[JoeF]

1 hour ago, ramnayak1 said:

Thank you for sharing the details JoeF. I appreciate it.

One final thought.... what if I open a company in my family or friend's name in my native country and show it as work done by someone as freelancer over there? 

That would only get you in deeper trouble. You could kiss your future in the US goodbye.

You can NOT do that work. Period.

[james.edgar]

Do not try to freelance!