Psioic23

I have the opportunity to form a startup company (making video games)
with a small group (US citizens).
Currently I have an H1-B visa with another employer.
What kind of proof would my startup need to provide to show that I can
be paid a prevailing wage?
Obviously a new startup would not have previous years tax returns.
Ideally a contract from a publisher would be good but what is the
minimum length of contract? Typically an initial contract for a game
from a publisher could be 3-6 months after which a re-negotiation
would happen for a longer contract.
There is a real catch 22 situation here since my associates and I need
to start the company to get the contract but we need to provide proof
that I can be paid before I can really do anything. Currently we are
trying to determine how to make this work.
I already contacted an immigration lawyer who told me some
information. But I would like to know if anyone out there has been in
this situation.

Thanks.

Ingo Pakleppa - see web site for email

Basically, you just need evidence that the company is likely to survive.
You are right, a contract with a publisher would be a good starting point.
It would be unreasonable to expect almost any business to prove that they
will have sales three years into the future - you merely need to show that
it is very likely that they will have these sales.

By the way, on an unrelated note: one possible pitfall is the legal form
of the new business. There are some types of business that only US
citizens and legal permanent can participate in (actually, the legal
situation is muddy in that respect, as different laws seem to contradict
each other). In particular, check with a competent attorney before using a
Chapter S corporation.

If you are going to be merely an employee rather than a partner, this of
course won't be an issue.

On Sat, 01 May 2004 10:48:49 -0700, psioic23 wrote:

    > I have the opportunity to form a startup company (making video games)
    > with a small group (US citizens).
    > Currently I have an H1-B visa with another employer. What kind of proof
    > would my startup need to provide to show that I can be paid a prevailing
    > wage?
    > Obviously a new startup would not have previous years tax returns.
    > Ideally a contract from a publisher would be good but what is the
    > minimum length of contract? Typically an initial contract for a game
    > from a publisher could be 3-6 months after which a re-negotiation would
    > happen for a longer contract.
    > There is a real catch 22 situation here since my associates and I need
    > to start the company to get the contract but we need to provide proof
    > that I can be paid before I can really do anything. Currently we are
    > trying to determine how to make this work. I already contacted an
    > immigration lawyer who told me some information. But I would like to
    > know if anyone out there has been in this situation.
    >
    > Thanks.

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