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All other Green Card Issues I-140/I-485, Family Based Green Card

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  #1 (permalink)  
Old 07-20-2007, 11:46 AM
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gcgamble is on a distinguished road
Default Starting up Business

Guys,

With the July VB release , getting green card with in couple of years does not seem feasible option.

So i am toying with an idea to set up a company with my friends just to have a base for Green card.

We are planning to process our billing and accounting through it and change to this company and invoke AC21 after 6 months.

I wondering if any one has knowledge in this line.What all the factors that USCIS will take to approve AC21.

I greatly appreciate if you can provide CONS , references to an expertise pesonness and insight in this process.

Unitednations :--Please comment
Any
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  #2 (permalink)  
Old 07-20-2007, 11:49 AM
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gcgamble is on a distinguished road
Default any one please respond

any one please respond
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  #3 (permalink)  
Old 07-20-2007, 11:50 AM
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Thumbs up Hi

Even I am planning to start a company for people in NY/NJ who want to maintain the GC process and don't want to pay 30% commission to Desi Suckers... I am researching about how to incorporate a company. Does anyone have any information about it?
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  #4 (permalink)  
Old 07-20-2007, 12:05 PM
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tselva has a spectacular aura about tselva has a spectacular aura about
Default Good Idea .. But do it right

If you ask this question after Aug 17, many would come forward and discuss in details.

Let me give my thoughts...

1. Starting a company - Anyone can do it. You are not eligible to start "S" corp.
2. When you start your company, I would not suggest you not to work in your company on AC21 (even though you maintain the same job)
3. Make sure you have a partner who has greencard or citizen. He will be a big help until your GC (for various reason)
4. If you want to start a company, remember one thing, you are creating a base, which should earn for you after your GC. But, not to save your billing or to use it for some shortcuts.
5. Please make sure you have it in right place, appoint a registered agent, proper website, etc, if you want to hire H1s. I have seen many people starting the companies in their rental home. Your h1 employee will suffer during stamping.

On top of it, you find a partner who can join as a employee in the company first. Many would come forward to start the company. They will not put their efforts or they will not even come forward to be an employee in the company.
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Old 07-20-2007, 12:10 PM
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Default --

I have some.

Incorporating a company can be done even when you are on H-1b and have not applied for a GC. It is a very trivial thing.

But it ends there. You cannot work for that company in any manner - not even write a check. It has to be a 100% passive investment, for example just like you invested in google stock.

With an EAD this restriction goes away. Of course, once you use your EAD, your H-1 goes away too and you are at risk if your 485 is denied for some reason that could have been easily fixed. Lawyers recommend that you do not join your own company on an EAD. It can cause unwanted complications and possibly jeopardize your 485. Ditto with the idea of starting a company with the wife's ead and then joining the company as a software engineer 6 months later.

The best approach is to fiind a GC holder who is a reliable friend or relative and have him him own the company. That will be safe and can work out very well.
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  #6 (permalink)  
Old 07-20-2007, 12:17 PM
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gcgamble is on a distinguished road
Default Using GC holder as main partner

I am planning to make a GC Holder as main partner.Its not only to save a buck , but also for future security .

I see not many small /medium companies are going to last in long run . Our GC could take upto 6 years assuming no change in law and heavy outsourcing trend.

Do you know if USCIS raise a flag if company sponsering GC for 8 out of 10 employees (assuming rest are main employee's spouses).

If so what kind of measures should be taken before situation arises.

How important is company's history? if it is how much history of profits does it need to make it as safe bet?
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  #7 (permalink)  
Old 07-20-2007, 12:40 PM
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gcgamble is on a distinguished road
Default Any one has Unitednations contact info

If any one has UnitedNations(Naveed Yusuf) contact information .

I greatly appreciate if you can post it here or send me a private message .
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  #8 (permalink)  
Old 07-20-2007, 12:54 PM
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Default

Thanks for the response . This is helpfull.
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  #9 (permalink)  
Old 07-20-2007, 01:43 PM
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inspectorfox is an unknown quantity at this point
Default

As per the rules - I don't think you can use AC21 to work for a company if you are it's member. Also all is fine as long as your I-485 application does not get scrutinized by USCIS as they will ask for all your tax documents which will show another source of income which I believe will make your I-485 application ineligible for AOS. I would suggest you consult an attorney for this issue. I am 100% sure the process for starting a new company is no big deal.
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  #10 (permalink)  
Old 07-20-2007, 01:53 PM
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brij523 is a jewel in the rough brij523 is a jewel in the rough brij523 is a jewel in the rough brij523 is a jewel in the rough
Default you can start a company

You can start a company on your own. It just cost $350-$500. Contact any lawyer company and ask for details to start company. But if you are the share owner of the company you can not do your GC.

There is a risk working for small company and doing GC. USCIS normally asks for companies ability to pay the employee. If company fails to prove ability to pay, then your GC will be rejected. It happened with my friend. His company had 20-30 employee but the company always showed loss.

You can invest $1/2 million, employ 4 or 5 US citizen and process your E visa!!
__________________
GC Approved on June 26
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  #11 (permalink)  
Old 07-20-2007, 02:10 PM
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arrarrgee is an unknown quantity at this point
Default

what abt setting up a Business .....say a Franchisee Store? is that possible with EAD...I know its possible with H1..but the interest rates on the loan would be higher...what abt with EAD..would somone on EAD get similar benefits as one on a GC
?
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  #12 (permalink)  
Old 07-20-2007, 02:31 PM
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Bimmer740i is on a distinguished road
Default

I've seen UnitedNations on these (IV) forums. Search with his handle and send a PM.
__________________
EB2 - Oct 2003
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  #13 (permalink)  
Old 07-20-2007, 02:34 PM
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gcgamble is on a distinguished road
Wink Bottom line of ability to pay

Quote:
Originally Posted by brij523
You can start a company on your own. It just cost $350-$500. Contact any lawyer company and ask for details to start company. But if you are the share owner of the company you can not do your GC.

There is a risk working for small company and doing GC. USCIS normally asks for companies ability to pay the employee. If company fails to prove ability to pay, then your GC will be rejected. It happened with my friend. His company had 20-30 employee but the company always showed loss.

You can invest $1/2 million, employ 4 or 5 US citizen and process your E visa!!
Thanks for response .

Do you know what does USCIS takes as ability to pay bench mark .

1) If a company with few people in it , but they paid what is mentioned in my labor consistently but has meager profit margin .

2)The company need to have history with all assets .

I wish i have half a million

Last edited by gcgamble; 07-20-2007 at 02:51 PM.
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  #14 (permalink)  
Old 07-20-2007, 04:21 PM
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inspectorfox is an unknown quantity at this point
Default

Quote:
Originally Posted by arrarrgee
what abt setting up a Business .....say a Franchisee Store? is that possible with EAD...I know its possible with H1..but the interest rates on the loan would be higher...what abt with EAD..would somone on EAD get similar benefits as one on a GC
?
Under Section 106 of the American Competitiveness in the Twenty-First Century Act (AC21) of 2000, now incorporated into section 204(j) of the Immigration and Naturalization Act (INA), an adjustment application remains valid with respect to a new job if the adjustment application has been filed and remained unadjudicated for 180 days or more. The new job must be in the same or a similar occupational classification as the job for which the application was filed.
Though all changes of employment while the I-485 is pending bear some risk, it is best if the new job has the same or similar job title, duties, and salary as the preferred job by the original sponsoring employer. In addition, an August 2003 USCIS memo provides that one may still be eligible to use AC21 even if an approved I-140 petition is revoked after the I-485 has been pending 180 days or more.

Hope this answers your question.
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  #15 (permalink)  
Old 07-20-2007, 05:01 PM
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Default

Quote:
Originally Posted by inspectorfox
As per the rules - I don't think you can use AC21 to work for a company if you are it's member. Also all is fine as long as your I-485 application does not get scrutinized by USCIS as they will ask for all your tax documents which will show another source of income which I believe will make your I-485 application ineligible for AOS. I would suggest you consult an attorney for this issue. I am 100% sure the process for starting a new company is no big deal.
Multiple sources of income are not a problem when you are using your EAD.

But if you invoked Ac21 to work in your own company or a close relative's, then that may be asking for trouble.

This unprecedented window for filing 480 has triggered off Ac21 dreams in almost every applicant. But if you look at it closely, it does not give one much room to maneuver. The benefits will only be marginal. The real benefits of 485 are available to

1. Spouses who can and will work as that will significantly boost household income.

2. People who may get laid off during 485 will not run into a wall due to AC21
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