Hello my name is ***** ***** I am delighted to answer your questions today. I have 35 years experience as an immigration lawyer.
Yes you may set up an LLC in the US as an F1 student with a US citizen or permanent resident..
Your concerns are that you may not provide any proactive services to the business entity and be a passive investor only.
You may draw profit and claim expenses on your individual tax return according to ownership interest held on your Schedule C.
But you may do no more than be a totally passive investor.
One thing you may want to consider is if you have been in school for at least a year you might be able to have your educational advisor recommend CPT = Curriculum Practical Training which would allow you to have permission to work for the entity as long as the work is an intregral part of your course of study. You pay for the course hours and then the DSO annotates your I-20 that you have CPT and you can rather than sit in class learning, work using the same course skills you would learn through classroom hours. at your business and be paid. This has to be worked out through your program leader and your DSO. You do have to be careful because too much CPT could reduce or eliminate your OPT at the completion of your educational requirements.
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