Can a H1B holder start a company ?

[aneelbt]

Hi

Is it possible for a H1B holder to start his own company ? If so,
can he transfer his H1B to his own company along with I-140 status?
Also, does he need to take the money on salary basis. I hope what I asking makes some sense. Thanks in advance for your answers.

[Subramanya]

Is it possible for a H1B holder to start his own company ? If so,
can he transfer his H1B to his own company along with I-140 status?
Also, does he need to take the money on salary basis. I hope what I asking makes some sense. Thanks in advance for your answers.[/QUOTE]

---- Yes, you can start a company but you can only be a passive investor meaning that you invest in the company and cannot take any salry or perks associated with the company. You have to have a partner who is USC or LPR who runs and manages the company

---- You can transfer your H1 and I-140 to that company if some one is operating and keeps all the records for that company, provided all other legal formalities of registering the company are completed

---- To have more information speak to a qualified atttorney (immigration and labor) who can address all your concerns before venturing into the arena

Subramanya

[aneelbt]

Thanks for the info.