Folks, I have an opportunity to own 2% of a restaurant that few of my friends are planning to open. I am on H1b visa. It is completely legal and possible to be a passive investor as long as I am not performing any duties for that business(checked with my immigration attorney). Do you or you know anyone who did something similar? Anything that I should be careful or get in writing that will be helpful for me? Any potential measures that I should take that will help my in tax filing in future if I make any money on this?
You join as an investor. Totally legal
Is it under H1B though?
Restuarents are a tough business to make profit. and 2% is too small. I would suggest go deep even more!!
Restaurants fail 95% of the time. Careful!
Wow anyone wanna answer his q
A: No, Yes, Yes
H1b allows you to be an investor. You cannot work for that restaurant. Make sure they dont pay you for work.
Avg life span of a Seattle restaurant is 3 years. How much money are you hoping to get out of it? Most likely you will not break even, much less turn a profit.
Yes it's legal. It's probably a very poor investment.
Just remember 2% owner pays 2% of losses as it fails to make a profit
Just curious, what do you get for that 2% stake? Seems like this could be highly illiquid and you'd be unlikely to get fmv if selling. Do they plan on paying a dividend or will they mostly be taking salaries for themselves?
3 meals every day for free ..