Legal Question in Business Law in California

Incorporate holding H1B visa

Hi,

I came to US one year back. I am working here on H1B visa. I am software Engineer. I want to open a Software Company. Want to Incorporate it as LLC. My Question is can I incorporate a LLC since I am holding H1B. Also I dont have much amount to put into business initially. May be I can put 30-40k. After I incorporate my business I want to transfer few H1B holders into my company name. Is it possible to do?

Thank you

Sandeep


Asked on 4/11/06, 3:49 pm

3 Answers from Attorneys
Philip Iadevaia Law Offices of Philip A. Iadevaia

Re: Incorporate holding H1B visa

You can form any kind of business entity without being a citizen. Call me. ---Phil

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Answered on 4/11/06, 5:45 pm
Terry A. Nelson Nelson & Lawless

Re: Incorporate holding H1B visa

YOu may form a corporation the same as any citizen. Feel free to contact me if interested in doing it right.

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Answered on 4/11/06, 7:11 pm
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

Re: Incorporate holding H1B visa

While it is true that anyone can incorporate, whether citizen or not, the corporation could not qualify for "S corporation" tax status if it had a nonresident alien shareholder. Since "S" status is very important to most closely-held businesses for legal avoidance of double taxation, you would be unwise to incorporate.

There is no such restriction on who may be a member of a limited liability company. For this reason, you are probably better off as an LLC than as a corporation.

When you choose a lawyer to assist you in forming your LLC, besure to loom for one who knows all the rules that affect the choice of business entity, tax elections, and the like.

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Answered on 4/11/06, 7:48 pm


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