Can I start a company in the US while I am on H1 B status and own a majority share in the company

[pradeeka]

Dear Friends - Greetings! thanks for your time!.. 

 

I have been working on a ecommerce product "X" that has a huge potential, I have recently met some investors and they are keen to invest on the product. 

 

I am currently working with company "A" on a H1 B Visa.

 

1. Should I start a corporation or an LLC?

 

2. Can I hold 80 % equity on the company?

 

3. How should I plan for my long term in the US?

 

Thank you and look forward to hear your inputs!.. 

 

Regards

PDK

[JoeF]

On H1, you can only be a passive investor, putting money into a business and otherwise staying out of it.

See http://www.murthy.com/2014/01/28/home-based-businesses-inadvertent-unauthorized-employment/

As for company form, that depends on lots of factors. You should discuss that with the investors and a good CPA.

[pradeeka]

Thanks for the response JoeF..

 

I have been going through articles which suggest that it is legal for one

 

1. to own a company without working for it. 

2. to work for his/her own company if he/she is able to show that his/her employment can be controlled.

 

Can someone provide more inputs on the above.. thanks in advance!.. 

[JoeF]

1. Is the passive investment thing I talked about.

2. Is the entrepreneur option. The board would have to control your work. I suggest the investors and you discuss that with a competent immigration lawyer.

[pradeeka]

Thanks JoeF. I am planning to meet someone this week.

[radhisanne1]

Hi,

 

I think you can own a company and have 80% share, but you need to make sure you don't work for the company,

 

Can you please share your e-commerce product details? If interested, i'll willing to invest money