is it legal to set up a business whilst working under a H1B for another company? This is a side project with some friends, not meant to replace my full time job. Are there any special restrictions I should be aware of?
Just curious did you get H1B after masters?
Depends on what kind of side business.. if it is classified as hobby you are fine as you are not actively monetizing it... if you work for other company and actively work for it (e.g lyft/uber driver) thats a definite no. Passive income business like airbnb or turo is fine too... The rule of thumb is that you will not spend excessive hours on this thing and monetize on it
It's actually a gray area. There are suits that Turo insurance claim turned into active involvement. USCIS can screw in either direction.
Shit seriously?
Unfortunately no. Gov allows h1b to he successful but not too successful.
No. You can't make money professionally (something that requires you to pay income tax) on anything that is not the source of your h1b. You are not even allowed to babysit. Get a green card.
No, this is wrong. I can invest in some business and profit out of it. That's taxable yet perfectly legal.
That's not 'professionally' if it's not day trading, and it only requires tax when you sell it. So you are right unless it's day trading.
Any active investment of your time that would be customary be paid for a citizen or LPR is against the terms of your H1B.
You're not supposed to earn money.
Thx. V helpful
Am I able to found with a greencard holder but not take salary?
No.