thirumal Posted January 22, 2013 Report Share Posted January 22, 2013 Hello Fellow Members, I am on my 3rd Year H1 B I recently got bought the restaurant and signed the lease with landlord, now I wanted to operate the restaurant being 100% owner and dont want any partnership in the business or adding them in the lease. what kind of CORPS or LLC's will be the best fit , that aligns with USCIS rules for H1B Programme. As a H1b person, am I eligible to buy a business in US and sign a lease? Thanks for reading my post Looking for your Response. Link to comment
JoeF Posted January 23, 2013 Report Share Posted January 23, 2013 On H1, you can invest in a business, but you can not be involved with running the business in any form. Essentially, you can only be a passive investor. Link to comment
t75 Posted January 23, 2013 Report Share Posted January 23, 2013 You may work ONLY for hour H1B sponsoring employer. You may only be an investor in the business. You have already workrd illegally by signing the lease. See an attorney as you are in over your head Link to comment
catx Posted January 23, 2013 Report Share Posted January 23, 2013 You cannot operate any portion of a business on a H-1B visa -- period! You can only participate in a business as a 100% passive investor, which means no participating in the activities of that business whatsoever. Operating a business at any level, even as a minority partner, constitutes a violation of the H-1B laws, regulations, and rules, and can lead to revoking of your H-B visa. Did you not consult with a qualified, experienced attorney before buying the restaurant and signing the lease??? Link to comment
thirumal Posted January 23, 2013 Author Report Share Posted January 23, 2013 thanks members, I am going to open an LLC and appoint a GC guy as ceo and make him to sign the lease again. How I can handle income tax, which i made out of the restaurant business? Link to comment
JoeF Posted January 24, 2013 Report Share Posted January 24, 2013 How I can handle income tax, which i made out of the restaurant business? YOU don't handle any of that. That's what the CEO does, not you. You can only be a passive investor, putting money into a business and otherwise stay completely out of it. Link to comment
t75 Posted January 24, 2013 Report Share Posted January 24, 2013 OP, Your attitude makes me think that your CEO will be that in name only and YOU intend to work in violation of US laws. Link to comment
rahul412 Posted January 25, 2013 Report Share Posted January 25, 2013 OP, Your attitude makes me think that your CEO will be that in name only and YOU intend to work in violation of US laws. Yeah, you are right. After reading the first post and the last reply from OP. One can easily guess that. Link to comment
thirumal Posted September 3, 2013 Author Report Share Posted September 3, 2013 I have used my friend who have GC to sign the lease. Link to comment
10451 Mill Run Circle, Suite 100
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