foreign students incorporatin a LLC

[hytram]

What is the name of your state (only U.S. law)? New York


a friend of mine and I (both of us are foreign students in NYC universities) have been working on a dot com start up idea, have made a working website and are about to launch.

However now we learnt that though ANYONE can form a company, especially an LLC in USA, a froeign student, because they have rules against working off campus, can risk deportation etc.

Apparently we are allowed to form the company, but not rean salary (which is ok - we dont need the money now) - but we can earn dividends.

Some others saying that its not a big deal at all as long as you show that you are doing "volunteer" work.

Yet others are saying that since earning ANY money outside the campus is illegal, our best option is not to incorporate and offer the services of our website free - then try to sell it to a bigger buyer.

Yet more have suggested getting an American partner to "anchor" the compaany - the LLC papers will have only the american's name

Can someone please advise - if there is any authentic online source of information then that too will help.

Thanks

 

[hytram]

anyone???**************.....pls

 

[TheGeekess]

anyone???**************.....pls

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[FlyingRon]

Nothing precludes foreign nationals from forming LLCs in NY, info here: http://www.dos.ny.gov/corps/llcguide.html

However, understand you are NOT ALLOWED to work in the US on student visas (outside of formal OPT etc...). What you are proposing to do is almost certainly in violation of your visa.