H1B Plus Businesses

[JohnNews]

Folks:

I am wondering if there are any restrictions on H1B visa holders starting
their own businesses (LLC) on the side. I want to do some Real Estate on
the side along with an Internet Business. I plan to apply to the IRS for a
Tax IDentification Number. So these are ligitimate businesses and I will be
paying additional taxes.

Can this be legally & lawfully done?

Thanks,
JOHN

[Stuart Brook]

Generally speaking, no ... you are only permitted to perform the duties
for which your H1B was granted ... that doesn't include real estate.

[Joachim Feise]

You can start your own business, but you can not work for it in any shape or
form, unless you have proper work authorization to do so.

-Joe

[Ingo Pakleppa]

On Fri, 28 Jun 2002 02:02:51 GMT, "JohnNews" <Johnc...@attbi.com>
wrote:

Only if your business can sponsor you for a second H-1B. You'd have to
show that your real estate business requires a college degree, and
that you actually have the relevant degree. You would also have to
guarantee that your new business will have enough funds to pay your
salary - you can't just skip a paycheck if times are bad; you must pay
the salary that you promised Department of Labor you would pay
yourself. And you would also have to stay within the range of work
hours that you specified when filing for this second H-1B. That is,
you can't just work two hours on real estate one week and 20 hours the
next week.

Generally, this kind of self-sponsoring is very tricky at best, and in
your situation may well be impossible (few real estate jobs will
require a college degree of the kind that an Internet professional is
likely to have).

If I was in your shoes, I would not even try it. If you still do, be
very sure to hire a competent attorney who has done such a complex
thing before.

There may be an option for you yet: if you can prove that the
real-estate business is an investment rather than a business you work
for, it would be perfectly permissible (just be sure that it doesn't
grow so much that it becomes work!) Similarly, if you can prove that
it is a hobby rather than work, it may also be permissible.

So, if you are planning on buying a two-family home and renting out
one half of it, that will probably be OK, even if you occasionally (!)
have to go in and fix something or deal with the tenants. If you plan
on becoming a real estate sales person, that would not be OK. If you
plan on buying a 50-unit complex and managing it yourself, that would
also not be OK (but it would be OK to hire a manager, and may be a
good idea anyway!)

Ingo

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