If I’m on an H1b and working for a company but want to start my own company, what is a legal way for me to be a stakeholder without working for it?

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If I’m on an H1b and working for a company but want to start my own company, what is a legal way for me to be a stakeholder without working for it?

I am planning, along with 2 other friends, to start an LLC, at the same time while keeping our existing jobs. We all plan to own 33.33% of the company. I have read that I can be an investor or board member. However, I need some more info on what to call myself when we file a LLC. Again I don’t wish to leave my existing job and work for this new company. I just want to be a stakeholder.

Asked on November 14, 2014 under Immigration Law, California

Answers:

SB Member California Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

You can set up a new company or be a part owner of a new company however you are not permitted to work for that company or derive any income from it through work.� Passive investment is permitted but not any activities that can be construed as work and that could be seen as the basis for the income.


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