I on H1b want to do business.

[dsarvaiya]

Hi,

I am on H1b visa and am working in USA right now, am Indian citizen. I want to invest some money with my family here in US. Now unknowingly we just formed an S Corporation with my name. Then just reading the rules I found that only citizens/residents can own a S corp.

My question is: Can I be partner with my family in this S Corporation? If no to S Corp then what will be best alternative?

If no then will there be any problem on my current Visa as I did so?

Kind regards,

Dushyant Sarvaiya

[txh1b]

Who is your family?

On a H1b, you cannot have anything to do with the company and just be a passive investor and get returns by paying taxes.

Consult an immigration attorney.

[dsarvaiya]

Hi,

Thanks for the kind reply.

Its my uncles friend.

My main concern is about S Corp. Can I be partner in an S Corp? Can you suggest some good lawyer in Chicago area?

[immihelp]

You can't really work for that company.

[txh1b]

On a H1b, you cannot have anything to do with a S corp. It is only or USCs and PRs. Get a lawyer and close the S corp that you registered in your name. It will violate your status.

You could be a passive partner only in a C corp or LLC. I don't know any more than this.

[ksaraiya]

I am on H1B and want to do business

You can't really work for that company.

Hello Team,

So as per the reply, I can't work for another company/firm. But I can still make money by doing a business, where I am not employed by the firm nor the line of business clashes with the line of business of the company that I work for. So technically, I am an employee of the only company that sponsored by H1B visa but I can still do a part-time business provided I don't be employed by another firm.

Is my understanding correct?

Thanks.

Have a good day!