Can a non-US citizen or resident found a Company in the US?

Question

I have a work VISA, a H1-B extension to be precise (I am living over 7 years in the US now) and waiting for my Visa Number to complete the adjustment of my status and get my Green Card. I used to have a L-1B visa, but had to switch after 5 years to the H-1B, because the L-1B could not be renewed anymore (I was forced to leave the country leaving everything behind for the time my L-1B expired and my H-1B approved).

If I want to start a business in the US, is there a legal way for me to do that? If not, is it possible for me to become a shareholder in a C-Corporation or LLC that was founded by an US citizen or permanent resident? Could I acquire 100% of the shares? If not, what is the maximum?

I am not a foreign investor, but in the US on a work VISA (for over 7 years)
My priority date is in July 2002. The last document, the I-485 was received by the INS this month.

I want to start a company for legal and tax reasons primarily. Next do working for my current sponsor (who would be fine with it). Becoming my own sponsor is not the plan, because that would add additional delays and problems to my list and I can apply for citizenship and skip the green card, because I will be 10 years in the US already.

Any advice?

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Answer 1

Yes, you can likely own your own business here structured in any of the ways you state. This is governed by state law so contact the corporation commission in your state. There are some restrictions in areas like aviation, telecommunications, power generation, etc.

Until you are a permanent resident, your I-140 MUST remain valid. You may "port" your approved I-140 to a position in the "same or similar" occupation without jeopardizing your pending I-485. This means using the old petition to support new employment without having to refile another I-140. However, porting to self-employment poses some risks. Especially since you are so near completion of the process, you should carefully evaluate whether the tax or other benefit is worth the risk of losing everything this late in the game. The link below is to USCIS memoranda. Scroll to December 2005 and read Question 8 from the memo, "Interim Guidance for Processing I-140 Employment-Based Immigrant Petitions and I-485 and H-1B Petitions Affected by the American Competetiveness in the Twenty-First Century Act of 2000 (AC21) (Public Law 106-313)"

Answer 2

You can start a business here, but I think what you are really asking is about the immigration part, not the investment part. A business is only going to help you on the immigration front if you invest more than $500,000 if it is in a 'needed' area, or $1,000,000 in a different area, and there is a minimum on job creation. That buys you a special visa, subject to screening, as I understand it.

Go to uscis.gov for details.

If you are trying to create a business to be your sponsor, there is nothing to stop you (except you might need someone else since I doubt you can sponsor yourself). However, you will need to go through the entire H1B visa process which will not start again until next April.

Good luck on your green card. I understand the bill now in Congress would wipe out all applications for green cards filed since 2005 and make them be refiled under the new system, and family will be taking 75% of the visas over the next several years.

Answer 3

Of course you can! Foreigners own many of our companies and there are even investment visas that require the immigrant to invest in and/or own a company. Consult a civil lawyer before investing in any company to protect your interests.

Answer 4

Certainly, every state controls the rules for becoming incorporated in that state. You need to see what the laws are in your state.

Answer 5

You must be kidding ?
I didn't think non immigrants could start businesses anymore.