Two H1B Work Visa Holders formed a business - LLC in the state of [State Removed by Avvo]. They are the only members of the LLC. Currently, they hold the co-CEO positions at the company, however they do not work but manage the company only. They know that the per imm. laws, without proper authorization, they can't work for their own company. However, they are also aware that they can manage their investment in the company. All the startup expenses of the company are considered investment by the founders. The business is e-commerce service oriented business and the services will be performed outside of the US. There will be no employees of the company and only contractors will be hired to do the work for the company.
We are seeking proper legal advise based on the facts given above. Please share your thoughts.
The members of that resourceful group must consult with both corporate and immigration attorneys in person to detail their activities and receive an accurate legal advice.
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I see a problem, a big problem.
You used the phrase "manage the company only" ... this is a type of work.
I fear that you're doing much, much more than sitting back and counting your money.
You really, really, need to meet with an immigration attorney before you do anything more.
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You need to consult with both immigration and corporate attorneys to be sure you create both a long term and short term solution to any immigration issues presented in the above fact pattern. From what is described there are going to be issues. If I can be of further assistance please let me know.
There are different visas available to set up a business for foreigners. As has been mentioned, you should consult an attorney who can provide you with the proper guidance in corporate and immigration law. If my firm can be of further assistance in immigration and corporate matters, please feel free to contact us.