I have a question which I have not seen addressed by anyone. I am on H1-B Visa and work for a company in US. I understand that I can only open a company here but cannot work for it since I am already working for the company which has sponsored my H1-B.
I don`t want to involve any Citizen or Green Card holder in my company. I want to do it all by myself and my brothers who reside in India. So now if I want to open a company, may be a C Corportation or a LLC, can I do this legally. I want to have me and my brother (who is not a US Citizen or a Green Card Holder but is an Indian Citizen) to run the company. I can be a sleeping partner, who is not working at all for the company and all the work is done by my brother who is the partner in the company I formed. Is that legal? Can I hire a person to work for my company, is that legal?
Further can I share the profit or loss for the company? If I make profit for the company, I intend to pay my taxes to the IRS and if I have a loss, I would want to write-off my losses too.
Thank you for your help!