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Can H1B Visa holder have income from forex proprietary firm?

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  • Can H1B Visa holder have income from forex proprietary firm?

    I have one question regarding the passive income for H1B visa holder.

    Can H1B Visa holder have income from forex trading by trading a proprietary trading firm capital?

    I got a contract from FCFF which is prop trading firm located in Holmdel, New Jersey. This contract is about forex trading with prop firm capital, not with my own funds. If i get profit from forex trade, then profit will be split into 80:20 ratio (80% to me and 20% to prop firm) and this profit is taxable. I am not responsible for losses. This prop firm pay the profits through deel payment (deel is like ADP payroll), located in SFO, California.

    Can i sign the contract, if it won't have impact on my H1B visa status?

    Thanks,​
    Last edited by cowboy87; 10-16-2022, 01:29 PM.

  • #2
    It will be considered as "working" for. that trading firm & it is not allowed on H1B visa.
    - I am not an Attorney, hence not giving any legal advice. Just sharing MY opinion with an intent to help others.

    If my opinion helping you, then please do click "like" button below.

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    • #3
      Can H1B Visa holders have income from crypto trading firms? I am not sure about crypto regulations laws and how I should pay my taxes from crypto trading income.

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      • #4
        Originally posted by NVRK View Post
        I have one question regarding the passive income for H1B visa holder.

        Can H1B Visa holder have income from forex trading by trading a proprietary trading firm capital?

        I got a contract from FCFF which is prop trading firm located in Holmdel, New Jersey. This contract is about forex trading with prop firm capital, not with my own funds. If i get profit from forex trade, then profit will be split into 80:20 ratio (80% to me and 20% to prop firm) and this profit is taxable. I am not responsible for losses. This prop firm pay the profits through deel payment (deel is like ADP payroll), located in SFO, California.

        Can i sign the contract, if it won't have impact on my H1B visa status?

        Thanks,​

        Hi! Regarding your question about passive income for H1B visa holders:

        Yes, H1B visa holders can engage in passive income activities, including forex trading with a proprietary trading firm, as long as it doesn't violate any terms of their visa status. But the key considerations are:
        1. Tax Implications: Income from such activities is taxable, and you should ensure proper reporting of profits to comply with U.S. tax regulations.
        2. Contractual Agreements: Ensure that the terms of your contract with FCFF align with the permissible activities for H1B visa holders and that it does not involve any unauthorized employment.
        3. No Impact on Visa Status: Generally, engaging in passive income activities should not impact your H1B visa status, especially if you are not using your own funds for trading and have no responsibility for losses.
        4. Documentation: Keep detailed records of your income, contracts, and any other relevant documents for future reference.
        However, it's crucial to consult with an immigration Consultant or a tax professional to ensure compliance with immigration and tax laws, as individual circumstances may vary. They can provide personalized advice based on your specific situation.

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        • #5
          Yes, you are allowed on H1B visa

          I am not a licensed lawyer and cannot provide legal advice. My assistance is only based on my knowledge and personal insights, and I share them intending to assist others.

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          • #6
            H1B workers can usually do crypto trading as long as it follows the laws and rules of the country they're in. As for encashing with USDs, it's a good idea to talk to a legal pro or an immigration expert who can give you specific advice based on your situation.
            Last edited by russelgarner; 10-25-2023, 06:33 AM.

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            • #7
              H1B visa holders in the United States are allowed to have other sources of income beyond their primary employment, including income from investments and other financial activities such as trading in the Forex Facts market. However, there are some important considerations and potential restrictions to be aware of:
              1. Primary Employment: H1B visa holders are primarily in the U.S. for employment sponsored by a specific employer. Your primary responsibility is to your sponsoring employer, and you must maintain your status by adhering to the terms and conditions of your H1B visa.
              2. Income Reporting: Any income you earn, whether from your primary employment or other sources, should be reported appropriately for tax purposes. Consult a tax professional or accountant to ensure that you comply with U.S. tax laws.
              3. Passive vs. Active Income: Income from investments, including trading in the forex market, is generally considered passive income. As an H1B visa holder, you are allowed to earn passive income in the U.S.
              4. Proprietary Trading Firm: If you are trading with your own capital or as part of a proprietary trading firm and not engaging in active employment with the firm, it is more likely to be considered passive income. However, it's essential to clarify your specific role and activities within the firm to ensure compliance with visa regulations.
              5. Restrictions and Changes in Regulations: Immigration regulations can change, so it's crucial to stay informed about any updates or changes in H1B visa regulations that may impact your ability to earn income from other sources.
              6. Legal Counsel: If you have concerns or questions about your income sources as an H1B visa holder, it's advisable to consult with an immigration attorney or legal expert who specializes in immigration matters. They can provide guidance specific to your situation and ensure that you remain in compliance with visa regulations.

              It's important to remember that H1B visa holders should prioritize compliance with U.S. immigration laws and regulations. Earning income from passive investments, such as trading in the forex market, is generally permissible, but the specifics of your situation and activities should be reviewed by a legal expert to ensure compliance.

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              • #8
                Regarding the question about H1B Visa holders earning income from forex proprietary firms, it's crucial to consult with a legal expert or immigration attorney for specific guidance. Visa regulations can be complex and vary depending on individual circumstances and visa conditions. As for stablecoins, they offer a promising avenue for diversifying investment portfolios and mitigating volatility risks in the cryptocurrency market. If you're interested in stablecoins, I recommend checking out this informative link: https://stakingy.com/stablecoins. It provides valuable insights into stablecoin investments and strategies for maximizing returns while minimizing risks.
                Last edited by dogara3; 02-28-2024, 03:33 AM.

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                • #9
                  Originally posted by NVRK View Post
                  I have one question regarding the passive income for H1B visa holder.

                  Can H1B Visa holder have income from forex trading by trading a proprietary trading firm capital?

                  I got a contract from FCFF which is prop trading firm located in Holmdel, New Jersey. This contract is about forex trading with prop firm capital, not with my own funds. If i get profit from forex trade, then profit will be split into 80:20 ratio (80% to me and 20% to prop firm) and this profit is taxable. I am not responsible for losses. This prop firm pay the profits through deel payment (deel is like ADP payroll), located in SFO, California.

                  Can i sign the contract, if it won't have impact on my H1B visa status?

                  Thanks,​
                  I am on similar situation as well. As a H1B visa holder, Is it ok to sign contract with prop funding firm(Apex or TopStep) and do trading? And Can the tax be filed as 1099-NEC?

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                  • #10
                    Thank you all for info

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                    • #11


                      Yes, as long as the forex trading is done with the proprietary firm's capital, and you're not responsible for losses, it should not impact your H1B visa status.



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                      • #12
                        Thank you... Do you know when we file the tax if we get 1099-NEC, should we declare as passive income?

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                        • #13
                          H1B visa holders in the United States are permitted to have additional sources of income beyond their primary employment sponsor, but there are certain limitations and considerations to keep in mind. Instant withdrawal strategies​

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