Thanks for taking the time out to answer questions!
I am from India and am in US on H1B with gc process underway in EB2 category. I (along with a fellow friend) have been thinking of doing something on our own but are always discouraged by the immigration process. If we were to start something on our own, what are our options? H1b where you have a majority stake seems to not be an option. Is there an alternate way to do this?
I don't seem to satisfy requirements for O1.
So would something like this work?
Owner 1 (<50% ownership, say 49%) on H1b
Owner 2 (<50% ownership, say 49%) on H1b
Investor 1,2 (>0% ownership, say 2%)
(I understand that things vary from case to case but trying to get general idea here)
Get an angel check. One share in a billion leaves neither cofounder with a controlling interest.
For what it's worth, I recommend giving more like 2% for a sole angel, assuming their contribution runs little further than satisfying this control problem. But technically speaking, whatever somebody agrees to should solve the control problem.
Because failure is not an option. If then, `he` will have to find another job in 10 days or leave the country.