Myself and two other partners are planning to start a C-Corporation. One of the partners is on H1B visa sponsored by his employer and he is getting a W2 from them. We have few questions:
Visa's give permission to be in a country and can enable someone to work. They do not impact if someone owns something or not. So he can own but he might not be able to work for this company. (Would need to read the visa and get an attorney's oppinion.) When he is in his own country though he can work and own (save for countries that are being embargoed like Iran).
Valuation would be decreased if he gets shares at a discounted price.
For question 4 not following for whom would there be tax liabilities that you are asking about?
With newer explanation from USCIS it may be possible to work for the company and be a shareholder ith it. read the link below
Q12: The memorandum provides an example of when a beneficiary, who is
the sole owner of the petitioning company or organization, would not
establish a valid employer-employee relationship. Are there any
examples of when a beneficiary, who is the sole owner of the
petitioning company or organization, may be able to establish a valid
A12. Yes. In footnotes 9 and 10 of the memorandum, USCIS indicates
that while a corporation may be a separate legal entity from its
stockholders or sole owner, it may be difficult for that corporation
to establish the requisite employer-employee relationship for purposes
of an H-1B petition. However, if the facts show that the petitioner
has the right to control the beneficiary’s employment, then a valid
employer-employee relationship may be established. For example, if the
petitioner provides evidence that there is a separate Board of
Directors which has the ability to hire, fire, pay, supervise or
otherwise control the beneficiary’s employment, the petitioner may be
able to establish an employer-employee relationship with the
The H-1B holder can be a founder / owner of another company.
If he wants to work for the other company, he may be able to obtain a concurrent H-1B visa if there is a valid employment relationship. Please see Can I Get an H-1B Visa Working for My Own Company?.
Disclaimer: This information does not constitute legal advice and does not establish an attorney-client relationship.