Here's the situation:
I have been in the US for ~8 years (4 years on H1b) and I want to Incorporate or create a LLC either in my name, or be a sole stake holder /partner in the company with an XYZ name.
I have been working on a few products, some with a group of friends which we intend to create a partnership and an another on my own, for which I'd prefer to have an LLC. The goal for me to create an LLC or an INC is to take care of liabilities/risks of my product (not for any tax evasion/savings). It also makes it possible to get investment/loans/credit cards for the company. Currently I'm/we're burning own money on these projects and after one point it'll certainly not be feasible.
Most googling suggest this: I can invest money in a company, but not work for it.
So, that leaves me with only two options:
- Incorporate back home (in India) and treat every sale of a product as and export from India and import into US
- Move to Chile or Canada which have much simpler immigration policies for startups .
- points 1 and 2 do not help me in case of a partnership I intend to be a part of. Luckily 2 of the 4 in the group are US Citizens (which is better than all non-residents).
Question: What are my options, if I want to live in US and continue working on my startups?
Note: None of the products have made any revenue. Until we get a paying customer, we are fine demoing/marketing our product.