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Can An H1B Visa Holder Start Their Own Business?
Last Updated on: November 7th, 2024
If you?ve currently moved to the US, you would probably know about the H1B visa. The highly skilled foreign professionals who have moved to the states for work need to have an H1B visa to work.
An H1B visa is essential for US citizenship and immigration services. For example, suppose you want to be able to work after finishing your studies in the states.
You need to apply for a work visa in the H1B category. However, if you are a small business owner, you can hire an H1B immigration lawyer to explain its usage and applications.
In this article, we shall understand the benefits of H1B Visa for a business owner in further detail.
What Is This H1B Visa Category?
H1B visa is a temporary visa category that allows employers to petition for highly skilled foreign professionals to work in special occupations. For example, you can get engineering, technology, STEM, and humanities jobs.
The duration of the H1B visa is from three years to six years. According to the H1B visa, the employer must ensure that providing jobs to foreigners won?t harm the job sector for the country’s people.
The US issues almost 65,000 visas annually, including 20,000 additional visas for foreign professionals graduating from reputed universities with master’s or doctorate degrees.
Starting A Business With H1B Visa
In general, if you are an international student studying at any reputed university in the US, you will be eligible for the visa more quickly. However, since H1B visas are always in high demand, only some can access them.
The steps are as follows?
- First and foremost, you must develop a solid business plan to show that your business can succeed.
- Take some time to research different business structures. Then register the name of your business to the officials from both countries.
- You can petition for a TIN or Tax Identification Number and an EIN or Employer Identification Number. The latter will serve as the social security number of your business.
- Once you have the social security number, you can lease your business location. First, you must determine whether it will be a shopping bay, warehouse, or office space.
The process of applying for an H1B visa to expand your business can be highly scrutinized by the USCIS. Therefore, you must talk to an H1B immigration lawyer before proceeding.
Eligibility Criteria For Starting Your Business On H1B
According to the amendment made by the USCIS in 2010, an H1B visa holder will be eligible to start their business only if they can meet the following criteria.
- Even if you want to start your business under the H1B visa category, your application will be treated as an employee.
- You can not be the sole proprietor of your business.
- The post has to be a bona fide role with relevant educational qualifications.
- Companies should have a solid business plan.
- A board of directors will be able to hire and fire the beneficiary.
How Can An H1B Visa Holder Start A Business?
As a foreigner in the US, you must ensure that you comply with the H1B visa regulations to prevent legal problems.
As a business holder, you must be comfortable contributing as a passive investor during the initial stage. This process is similar to people who buy stock in an American company without being involved with daily operations.
Once you?ve gotten hands-on as an investor, you need to hire someone to run your business. According to the H1B visa rule, American law prevents you from gaining an active role in your business. You will be asked to hire another person to handle your administrative procedures.
This is the only way you can run your business still after an H1B visa in the US. However, you will get all the benefits of running your business and owning your company.
You Can Also Sponsor Your H1b Visa Using Your Company!
If you own a company with others, you can apply for an H1B visa in the management role. In this case, an H1b immigration lawyer can help you by making your application look like the rest of the investors have offered you the role.
Your immigration lawyer can prove your working relationship with the other investors to meet the requirements of an H1B visa.
Get That Visa You Deserve!
You should properly plan and research before applying for an H1B visa. You must have a business plan that is equally sustainable and economical. Get deeper market knowledge and create a blueprint for your business accordingly.
However, you should know that H1B visas are in high demand, so don?t be disheartened if you don?t get one on the first try. To avoid such a situation, you can hire an H1B immigration lawyer to help you with the processes.
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