H1B and LLC

[Sangharsh Aggarwal]

Hi everyone, i am preparing myself on buying my first property and right now thinking to create an LLC. One caveat is since i am on H1B, I will not be able to work for my own LLC. The rules say to hire a manager and he/she should be doing everything including the decision making. My question is if a property management company be a good proxy for manager? Has anybody done this before?

I would imagine that property management company can be good proxy one the property is in the LLC. If that's the case should i be considering buying properties on my name and then work with my financiers to put them under LLC?

My other thought is to invest without an LLC if it's going to be complex until i receive my green card and have an umbrella policy to cover myself. Any suggestions?

[Sourabh Bora]

1. Anyone can open LLC in USA, even a foreigner (and from Iran at that!!)

2. But, if you are living INSIDE USA and are on H1B, you cannot work for that LLC and get a salary (W2 or 1099)

3. You can only be a passive investor

4. If you are born in India, the Green card can take up to 15 years AFTER BEING APPROVED! So, waiting 12 years for GC or EAD is out of question. 

5. I think passive income is legal (rents) but not active income other than your employer(like airbnb/uber etc )

Can you appoint someone as the manager/CEO of your company ?

 1. Your US citizen/ Green card friend

2. Your H4 Ead spouce of your friend

3. Your sister in India ?

I used to be on H1B myself for a long time, and I had a money making IT company( very little money )

However, with real estate, the stakes are much higher. I would suggest you seek professional help. and, when you do get the solution, please enlighten us all.