You should hire an employee to run the business because you are not allowed to be self employed and if you volunteer, pay no salaries but receive profits it will be a transparent effort to circumvent the restriction on no working in H1b visa. With the employee, then after his salary is paid and there are profits you should be ok.
This communication is not intended as legal advice. A local attorney should always be consulted for legal advice. No client/attorney relationship is intended or created by this communication.
You can invest but not work in the business and you can receive your share of the profits. If the GC is doing all the work, I think it better he receive some salary to reflect that effort otherwise you run the risk of a claim that you are really working also.
The key is that you are not actively involved working in the business.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).