

Ask HN: Foreign Student as Cofounder in the US - cyaniderose

I'm not a US citizen, but I'm studying in the states on an F1 Student Visa (I'm an undergrad) and am interested in doing startups with some friends. However, a major concern I have is that as a foreign student I don't think I'm allowed to have equity in a company that my friends start.<p>My questions are then,
1) What options do I have in my position as a foreign student in the way of starting up?
2) If we apply for YC in the future, will this affect me?
3) If we build a web app and start to monetize it, how do I ensure that I don't break laws regarding employment? I would like not to be deported :)
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HowardRoark
You can own or start a company, but you cannot work for it until you have
proper authorization, ie. CPT, OPT, H1b, Green Card, etc. If you are found to
be working for any company including your own, you could be out of status and
hence deported. Thats my understanding.

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adebelov
As a foreign student you are allowed to have equity in the company as long as
you are not employed by that company. You are legally allowed to own a company
as a foreigner, just not to work there. So the myth about you not being able
to own equity is b/s.

Honestly, just start your startup, go as hard as hell at it, make money, get
funded by a renowed VC firm and if they think you are useful, then they will
sponsor you as their employee and you will be legally employed in this
country.

Another route is to make so much money that you are given a green card. I
believe if you generate more than $1 mil. in rev. and employ 12 citizens (any
restaurant can do that), then you'll be all set.

You will not break laws regarding employment by monetizing on the app.

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cyaniderose
Thanks for the information!

"You will not break laws regarding employment by monetizing on the app." I
would still be in college if this web app were to be launched. I'm not quite
sure what the rules regarding earning money from a website are(you're not
technically employed for someone).

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abbasmehdi
Have you looked @ the startup visa? And let me add that I have an enormous
amount of empathy for you...

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grizzlylazer
same situation here! moving to the bay area for freshman year from hk

