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

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  #1 (permalink)  
Old 04-14-2006, 02:43 PM
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Nov-03
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I140 Mailed Date
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05-05-2005
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07-29-2003
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harrisonaquino is on a distinguished road
Default h1b/h4 business ownership

Hi guys!
I would like to start this thread to discuss how starting a business (not working for it), but jus to own it affect GC process. What USCIS actually allows about this matter.
Does anyone had any experience owning or starting business and giving answers to the USCIS about it?

We all know that we or our spouses can't work for no one but the employer, but it's my understanding we are able to own businesses if our involvement is "passive".
Please post your experiences about this issue, especially those that have had to deal with it with USCIS...

Information is power!

thanks,

harrison
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  #2 (permalink)  
Old 04-14-2006, 03:30 PM
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zigma is on a distinguished road
Default Passive ownership

As far as I am aware, people on a non-immigrant visa are allowed to have non-passive ownership in a business.
Example: Buy shares in a stock-market, etc.
If you decide to open a company, i.e. 100% ownership, "legally" you are not supposed to have any say in its operation and would have to hire a CEO to run the business for you.

Having your spouse then employed could technically be a conflict of interest as by now plenty of companies would have sprouted.
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  #3 (permalink)  
Old 04-14-2006, 03:47 PM
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gc212 is on a distinguished road
Default

Zigma is right. You or your spouse can work for the business, but cannot take salary. And still you need to hire a CEO. You can take only the profit out of your business, like in stock-market, etc.

Hope it helps.


Quote:
Originally Posted by zigma
As far as I am aware, people on a non-immigrant visa are allowed to have non-passive ownership in a business.
Example: Buy shares in a stock-market, etc.
If you decide to open a company, i.e. 100% ownership, "legally" you are not supposed to have any say in its operation and would have to hire a CEO to run the business for you.

Having your spouse then employed could technically be a conflict of interest as by now plenty of companies would have sprouted.
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  #4 (permalink)  
Old 04-14-2006, 03:54 PM
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Mar-05
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preguraman is on a distinguished road
Default constraint on C or S corporation

Is there any constraint on what kind of corporation they can be a passive owner? Like some say H1 Bs cannot be part of S corporation even as a passive owner since they are Non resident aliens. However, H1 Bs are also categorised as resident aliens like GC holders by IRS. Can someone throw light on this?

Thanks.
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  #5 (permalink)  
Old 04-14-2006, 03:57 PM
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Nov-03
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harrisonaquino is on a distinguished road
Default partnership

In our case, my wife opened a partnership, and put money down, while the other partner did the work...is that allowed?
How do we prove that it was "passive" and not active involvement took place?
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  #6 (permalink)  
Old 04-17-2006, 01:18 AM
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harrisonaquino is on a distinguished road
Default any more feedbacks

Any experience about this matter, from anyone/
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  #7 (permalink)  
Old 04-17-2006, 11:47 AM
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Mar-04
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jkays94 is on a distinguished road
Default

Quote:
Originally Posted by preguraman
Is there any constraint on what kind of corporation they can be a passive owner? Like some say H1 Bs cannot be part of S corporation even as a passive owner since they are Non resident aliens. However, H1 Bs are also categorised as resident aliens like GC holders by IRS. Can someone throw light on this?

Thanks.
This is actually an IRS tax election which is filed on Form 2553. S corporation status avoids double taxation by allowing one to have the corporation treated as a partnership for tax purposes. So basically its the IRS rule that has this limitation and not the type of corporation. Has anyone who wants to start a business and is a citizen of a country which has a investor treaty (ie E2 visa, note this is the 'treaty investor' option not treaty trader) with the US considered this an option ? The requirements are easier than an EB-5 visa (most lawyers say an investment of $25k or more) but it is limited to the following countries. For those who can meet the requirements, it is an alternate path to a GC, one could technically start their own consulting company and employ themselves that way and would get an EAD meaning they could work for themselves and even 'technically' hold a 2nd job with the EAD :

http://uscis.gov/graphics/services/t...rd.htm#anchorE

Argentina, Armenia, Australia, Austria, Bangladesh, Belgium, Bulgaria, Cameroon, Canada, Colombia, Costa Rica, Czech Republic, Democratic Republic of the Congo, Ecuador, Egypt, Ethiopia, Finland, France, Georgia, Germany, Grenada, Honduras, Ireland, Italy, Jamaica, Japan, Kazakhstan, Korea, Kyrgyzstan, Liberia, Luxembourg, Mexico, Moldova, Mongolia, Morocco, Netherlands, Norway, Oman, Pakistan, Panama, Paraguay, Philippines, Poland, Republic of Congo, Romania, Senegal, Slovak Republic, Spain, Sri Lanka, Suriname, Sweden, Switzerland, Thailand, Togo, Trinidad & Tobago, Tunisia, Turkey, Ukraine, United Kingdom, and Yugoslavia.

Additional Information: There are no quota restrictions for E-2 visas. Spouses of E-2 visa holders are also eligible to accept employment in the United States. E-2 visa holders are generally admitted for a period of 2 years and extensions can be easily obtained.
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