Starting a startup on my wifes H4 EAD

Optimatic / Eng
toptic

Optimatic Eng

toptic
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%.

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TOP 11 Comments
  • Why h4 would be revoked?
    Oct 24, 2017 7
    • Optimatic / Eng
      toptic

      Optimatic Eng

      toptic
      OP
      But they are not going to ask people to shutdown their businesses who started on h4 ead. Or maybe they would provide another solution for such businesses. What do u think abt my idea regardless of the fate of H4 ead. Would it work or create issue for me in future?
      Oct 24, 2017
    • New / Other
      💩🎯🌎🙉g

      New Other

      💩🎯🌎🙉g
      You can already hold the company passively with h1. There is no reason why that is not possible.

      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.
      Oct 24, 2017
  • Work in background?
    Oct 24, 2017 2
    • Because you can not start business on h1 so you have to be an investor
      Oct 24, 2017
    • Optimatic / Eng
      toptic

      Optimatic Eng

      toptic
      OP
      I mean work but not on papers. On paper its my friend and wife running the business. I am no one.
      Oct 24, 2017