Own business on H1b


H1bfirsttimer

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So, I am sure many of you might have thought about this and researched too. I have been doing it myself and the more I read, the more confused I get and unsure about the process. Can we all spool in our thought's on this and see where we go from here? I'll list out a few points that I am aware of but feel free to post your suggestions and corrections too. 

1) Passive investments are OK and great!!

2) Active investments/ ownerships will require a self sponsored H1b that needs to establish an Employee-Employer Relationship with a board of directors

3) Board of Directors- HOW and where do I find one? Criteria for selecting them? Should they be citizens? Should they have an existing business already? NEED MORE CLARITY on this. 

4) Can self sponsored H1b's keep filing for extensions too? 

5) what happens to their existing i-140 approved application( from another employer)? 

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The entrepreneur H1 that you seem to be talking about is designed for startups that have gotten venture capital. It is not for fly-by-night consulting companies or mom-and-pop shops. The VC companies will make sure that there is a Board of Directors, to keep tabs on the money they are investing. In the dot-com era, way too many startups wasted their VC money on fancy office furniture (office chairs for over $1k a pop come to mind... https://en.m.wikipedia.org/wiki/Aeron_chair) or big parties.

If you don't know what a Board of Directors is or does or who usually sits on it it indicates that you haven't educated yourself about how startups work (I've worked in startup companies for most of my career.)

 

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