I am aware that I am not legally allowed to work for profit/non-profit except for my sponsoring employer. But what if I register a SaaS business in India on relative’s name. I would be sole person running operations(code, support,...) for it. However, business entity and tax(in India) will be paid on my relatives name. How would IRS or USCIS suspect or know about it? Are there any other issues I should be aware of in such situation?
Why relative? Why not father or mother or someone more trustworthy?
Father or Mother is always preferred. Had relative in mind because he has experience setting up business entity in India and more familiar with Tax purposes.
That will be fine
If they figure your journey will end with no return.
I feel having it registered on parents name and not drawing any profits or transfer any profits to us under ur name will keep things cleaner ...
Really? You are here asking how to evade taxes? Also I don't see how having a business outside of US conflicts with H1B requirement. H1B is for employment in the US.
I am not asking here how to evade taxes. On H1b, I cannot work for any employer be it in US or other foreign country. By working for my own firm(in India) is against H1b requirement.
If you go through with this, are you going to report the income to IRS? If not, you're asking about tax evasion.
Trust me , get a proffessional advice. I am sure you will find a lot of people going thru that way. Untill then, stay safe and dont risk your future on assumptions.
I understand your point. Whom to consult for professional advice? Lawyer? - I cannot take professional advice from lawyer when I am aware that what I am doing is illegal. What I would be asking is what are chances of it getting caught if I go forward. Any other person you have in mind for professional advice?
See dont ask him something illegal. Ask him if he has another legal way. in short, explore. In case you dont find anything you should find what are consequences of that illegal way. Taking risk is great but only when it is calculated. Sorry, In my contacts I dont have anyone.
Op did you figure it out?
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they won't and probably won't care. what do you do once it becomes profitable or worth something? because on paper, your relative owns it.
Incase it becomes profitable and reaches around 70-80% of my TC, will move back to India.
moving back to India means your relative will just willingly change the names to be yours? you'd be surprised to how people change once money is involved. I'd say, just register under your name. on h1b, they won't care too much.