Otisusenet

Hello,

An inquiry from a friend with an H1-B, who is interested in starting a
small business in the US:

I'm an H1-B holder, and I would like to register a
company to conduct some import export business. There
will be no employees, and I am not seeking to sponsor
myself for visa or greencard. A few questions:

1. Can I register a company as a foreigner on H1-B?

2. What type of company would be the easiest in terms
of registration and taxation?

3. As an import export business, I would have funds
coming in and out of the company's bank account. What
can I do with the profit that remains in my account as
a foreigner? Do I have the rights to withdraw the
money?

Any advice would be greatly appreciated.

Thank you.

Joachim Feise

OtisUsenet wrote:
    > Hello,
    >
    > An inquiry from a friend with an H1-B, who is interested in starting a
    > small business in the US:
    >
    > I'm an H1-B holder, and I would like to register a
    > company to conduct some import export business. There
    > will be no employees, and I am not seeking to sponsor
    > myself for visa or greencard. A few questions:
    >
    > 1. Can I register a company as a foreigner on H1-B?

Yes, but you can not work for it in any shape or form without
the appropriate work authorization.
This would mean that you would need employees to actually do
the work, or get an H1 for it (very hard to do).
You can not sponsor yourself for a GC through a company you
own more than 5% in.
In light of this, I suggest that you think this over.

-Joe