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  • starting consultancy

    Hi,

    Can OPT students start consultancy company in US if so can you tell me the list of procedure.

    Thanks

  • #2
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    • #3
      Better to have opened by Green card holder or Citizen to save taxes

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      • #4
        No... Not even H1's can start. Only when you receive a GC EAD, you can start. But on F1 you can be a CFO or Secretary of a company if its a C-Corp but the company CEO should register the company under his name and he/she should be a Citizen or GC/GC EAD. Don't do the mistake, I know couple of people who were on GC and had a million dollar company in their name but once they went to India and when they were coming back, the Green Card was cancelled and were not allowed to enter US. The reason being, that guy opened it on H1. I have 3.5 years exp in this field so I know what I am talking about.

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        • #5
          Exactly correct what has said, one can't start a company on his name if their status is F1/H1. Also, a non US resident can even start a firm, well take me as a good example.

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          • #6
            u are wrong check uscis guide lines ..

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            • #7
              You don't see USCIS guidelines here buddy, check IRS guidelines. It will be a civil penalty.

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              • #8
                Yes he can start a consultancy. But with some limitations. If its LLC then it has to be in partnership with some GC or Citizens where you can only be a passive partner. Other option is that you can solely own a type "C" Corporation ( Its different from "S" Corporation and "LLC" corporation ). A type "C" corporation can be incorporated in US by a foreigner too. You will infirm your school the name of the new company where you will be working but You might not want to inform your school about the incorporation as this is completely legal but if you do so then your School DSO will not like the idea of your incorporation initially if he is not a cooperating guy but if you insist he can not stop you from doing any thing legal. If DSO doesn't agree then let them know that you have consulted with a reputed immigration lawyer on this and if the DSO wants, he/she can talk to your immigration lawyer to check the validity or legality of your incorporation. If the DSO is knowledgeable of the laws, he/she might not resist you further and if he/she isn't, then connect your DSO with your lawyers and you will be fine !!!

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                • #9
                  Also to clarify, A F1 student can own a company in US but he can't work for his own company unless he has CPT/OPT and unless his work at his own company is related to his field of study. If you aren't working then you will have to hire a GC or Citizen to do the work for you. As a company owner without working in the company, you can still draw money from the profit company makes ( draw money from company bank account, if not from payroll).

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                  • #10
                    No u need GC

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                    • #11
                      u can do c-class and LLC but be careful what u are doing .. u will be in big trouble if it back fires ..

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                      • #12
                        Hi,

                        Thanks for your reply guys
                        each one is giving different answers can u tell me which one is correct

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