We have some terminology issues. In Texas a JV or Joint Venture is not an entity. It is treated the same as a general partnership. That of course, provides no insulation from liability for the partners. Further, you would not "register a company in Houston". If you create an entity it will be registered with the Texas Secretary of State in Austin. It might have its principal place of business in Houston but that is immaterial. While it is probably correct that most business lawyers would consider the creation of a limited liability company as the "default" choice of entity, it is not always so. Choice of entity decisions can only be made after a thorough analysis of the business plan and the relative needs of the principals. Only an immigration lawyer could comment on the L1 visa issue.
DISCLAIMER: This is not specific legal advice and does not establish an attorney/client relationship.
To make a meanginful decision, you need to engage a business attorney and likely a tax attorney as well and discuss facts and objectives in order to determine the type of entity that you need.
Lots of tax issues here as well.....you may want an LLC or you may want a c-Corp. I have a gazillion questions concerning the nature of the business, how capitalized, the plan to repatriate money overseas, your plans to stay a resident in US, etc. Avvo really cannot answer the myriad of issues that can only come from a professional knowing all the facts, goals and objectives to give proper advice.
My answer is not intended to be giving legal advice and this topic can be a complex area where the advice of a licensed attorney in your State should be obtained.