Forums: Discussions for entrepreneurs and small business.

- I would like to hire a friend of mine who has a H1B and will get laid off in few weeks from another company.

- He has great skills to help my business.

- I would like to transfer his H1B to my LLC.

- My company is an LLC. Unfortunately we do NOT have revenue yet.

Question 1: is it possible to hire the person without revenue at all? Is it possible to pay in equity only?

Question 2: if a cash salary has to be given, is it possible to have my friend invest in the company (he gets equity) and then I can pay him monthly.

Question 3: what type of lawyer should I contact? An immigration lawyer? An LLC lawyer (what's the exact name)? Both?

Thank you!

Either type of lawyer (small business or immigration) should be able to answer your question, probably in a free, over-the-phone consultation. Ask for a recommendation for an attorney from other business owners or you can consult www.martindale.com for a directory of attorneys.

Best regards,

Molly Donaldson

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Start Here. Go Far. LaunchX

Both lawyers will be needed, but start with the immigration lawyer. It is not a cheap or easy process. There are requirements for the business, salary.....

I know every two years; I must create a document with what the person's title is salary on my company’s letterhead. The process doesn’t always work, but H1's are limited in number. The company doing the hiring must be stable. You also have to prove that you tried to hire people and could not find one that meets your requirements. So when I bring on a new H1, I actually have to post reqs in job boards, newspapers and interview people. Then determine why that person does not meet the job requirements.

Every couple of years he will need to leave the company to get his visa stamped. If he is trying to get his green card, then there are other issues, like if he moves out of state, he starts at the back of the line and ditto if his job title changes,. Say he is a programmer and move to project management. My perspective is not from a legal mindset, but a management mindset, and working with 30-40 employees who had H1's, so talk to a good immigration lawyer. Make sure they are good; it will cause you all kinds of grief. PM me and I will tell you a horror story. LOL

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"- I would like to hire a friend of mine who has a H1B and will get laid off in few weeks from another company.

- My company is an LLC. Unfortunately we do NOT have revenue yet."

 

My question is if the person is your friend why would you want to get them into a situation of working for no pay?

If they are in "need" of an income, then perhaps they should find a job where they are earning a salary.  With that said, one can do a joint venture with another company or person simply for the learning experience.

Knowledge is priceless!