Start an IT Firm on H1B Visa

[ravikumar4869@gmail.com]

I am on h1B working for a company X, I cannot leave the company X till rest of H1B and I get green Card. I will continue to work for company X for another 10 years, I want to start business like IT Firm, can I partner with other people and open an IT Firm on partnership, I will not work for the new IT Firm but want to own the partnership of the company and gain profits from the company, If I do so will I have any kind of problem during my Green Card Process or will have any kind of legal issues, Please advise accordingly as there has lot of confusion online in this grey, if I can open a company what kind of company can I open witn partnership with others

[JoeF]

You can be a passive investor, i.e., putting money into a business and otherwise staying out of it.

You can get dividends, but most businesses won't make a profit ever.

And even if a business makes a profit, the management may decide to reinvest into the business..

[omshiv]

what does this IT firm do? it seems like you are new to the US and liked the idea that your desi consulting company is taking 15% - 25% of your hourly rate and you want to open a similar business.. you think thats easy? wait till you do it.

 

anways H1b cannot open a business here alone..you can partner with a GC/Citizen though..but you cannot eat the profits.

[wiweq]

=> This is wrong. An H1b can register and open a company in USA alone. No need to do partner with GC/ USC. Though H1b cannot work for it.

[JoeF]

=> This is wrong. An H1b can register and open a company in USA alone. No need to do partner with GC/ USC. Though H1b cannot work for it.

 

So, what would the person do with the company then? He can't even file tax returns for the company.

In other words, for all practical purposes, a person on H1 can not open a business on his own.