Starting a startup on my wifes H4 EAD
Oct 24, 2017
11 Comments
One of my friend and I have came up with a business Idea and we are starting a LLC with 50/50 agreement. As someone on h1b can only be a passive investor and not work for the company, it would not give me much control over the company. Like profit taking or influencing business etc...
What I am thinking is that I have my wife who is on h4 ead the 50% owner of the company and the friend from work to be the other partner. I will work in the background.
What do you guys think? Any issues you forsee? The only issue I see is that the h4 ead being revoked and not sure what would happen to my wifes 50%.
comments
Managing (actively) company while on h1 is illegal. No one in their sane mind will suggest you to do it - since encouraging to do something illegal can also be construed as co-conspirator. I don't suggest doing that.
Your wife can contribute her sweat equity. If h4 EAD is revoked, your wife's shares will still remain. But then they could be in your name too irrelevant of h4 EAD fate.