I hope everybody is well and business is good. I am trying to find ways to join the business world.
I am currently a M.Eng. student with F-1 visa and I am wondering; is it possible to create/found a company with my F-1 visa?
I google'd this a little and mostly the answers is no, but I thought there might be someone in HN who has some experience in this matter.
Thank you for your help!
The technical explanation is that anyone is allowed to create a company since it is a legal right that everyone is allowed to enjoy regardless of their visa status or nationality. But, working in the company and receiving income from the company is another issue entirely.
As an F-1 visa, you generally cannot work for a company unless it is related to your study or in a workstudy program. The student visa allows you work through the OPT and CPT system. They require the work to be related to your study but honestly, they're pretty relaxed in that regard.
Thus, students that are allowed to work generally require the company to sponsor them an H1B visa.
If you're really that serious about starting something, then you should just fcking do it. lol. Incorporation is the last thing that you should worry about it because the realistic bet is that your going to fail miserably. Incorporating is going to be both a cost and waste of time until you can prove that there is real value in the business.
As a tax professional, this is the same advice I tell everyone and its what I do as well.
I never incorporate any of my businesses unless I know that there is a good reason or real profit being generated. I hope that this helps!
My motive was that, if I want to handle any kind of money and generate income, I'd need to be incorporated.