How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 113424
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
10285032
Type Your Business Law Question Here...
Law Educator, Esq. is online now
A new question is answered every 9 seconds

Need advice on establishing a startup in San Francisco Bay

Customer Question

Need advice on establishing a startup in San Francisco Bay areaI am currently on H1-B Visa and work for a company in California. Through this company I applied for GreenCard two years ago, and got my I-140 an year ago. Using this I-140, I was able to sponsor EAD to my spouse. And she currently have an EAD (Employment Authorization Document).Last 6 months I worked on my own idea (internet technology) and almost ready with business plan / working prototype. As a next step, I would want to reach out to various VCs/Angel Investors to obtain funding. But to secure the funding, it seems the prerequisite is to incoroprate a legal business entity ( may be a c-corp in delware). This is where i would need your expertise.1) How can i establish a corporate entity, while i am still working on H1 for other company. Is there any way.2) Can my spouse (who is having an EAD) start C-corp. In that company is there any possibility I own 100% share without working. But still want to be main leading person - to give pitches to the investors and ultimately secure the funding.My preference is obviously the first option.
Submitted: 1 month ago.
Category: Business Law
Expert:  Law Educator, Esq. replied 1 month ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
1) You can establish a C-corp or an LLC, just not an S-corp on an H1b. The issue is that under the H1b you cannot work for anyone but your corporate employer sponsor, so you can form the C-corp or LLC and you can manage it, but cannot work for the entity until you get your green card approved. If you are going to open a corporation or LLC, then Nevada or Wyoming would be easier and cheaper overall and you can go through several companies in either NV or WY that will set up the corporation and for a small annual fee will have a mail address for an agent for service in those states, which you would need. If you do not actually work for the company until your green card comes in, you would not get in trouble with the H1b.
2) Your spouse with the EAD can work for the corporation/LLC and it can still be in your name as president or member of the LLC. So you can own the company and not work there and be a 100% shareholder.
Here are some companies that can help set up your NV or WY LLC:
http://www.northwestregisteredagent.com/nevada-LLC.html
https://www.incorporate.com/nevada.html
https://www.wyomingagents.com/llc
http://wyomingcompany.com/
http://www.northwestregisteredagent.com/wyoming-LLC.html
Please do not forget to leave positive feedback by clicking on the 5 stars at the top of your page , as the experts are not employees of the site and get no credit for spending time with customers unless they leave positive feedback. Thank you.

Related Business Law Questions