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Having a Company on H1B - 485 Chances
I came across this article on Murthy.com and got lil nervous.
I am currently on H1b applied for 485, LC Cleared, I140 Cleared.
I work for a company X but own another consulting company and I am a passive partner with a share of 49%. Another friend of mine who is also in the same boat as I am is another partner with 49% stake. My Sister who is a Green Card holder has 2% Stake and is an active partner.
I have not taken a single penny from the company in the last 2yrs we formed the company and we file a K1 every year. Even though the company makes profits/loss we are not taking the profit nor writing off the losses from our individual taxes, However both of us (I and my friend who are passive partners) end up doing most of the work such as
1. Signing the bank checks
2. Signing the USCIS documents for employees who are working for our company.(for I129, etc etc)
Does this mean that I am a clear candidate to be on INS Red alert/Radar?
I know that an H1b holder can have a company on H1B and cannot work for that company part time/full time precisely what I have been doing since I have never taken a pay check from the company however I never thought that this could have implications on the 485 approval.
Can some one answer my question. I guess I am more looking at some one like UnitedNations to answer.
Last edited by kothuri; 10-02-2007 at 04:27 PM.
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