Are you a laid off H-1B worker looking for other options? Have you ever dreamed of owning your own Company in the U.S.? If yes, to either, keep reading.
Many are surprised to learn that the H-1B visa can work for entrepreneurs, even those who own more than 50% of the business and/or have majority voting rights of the company. But success depends on how well the petition is structured.
Key ingredients of a strong “Beneficiary Owner” H-1B:
- Real governance: A fully formed C Corp with a tax ID and a board with authority to hire/fire the Beneficiary Owner.
- Specialty occupation role: Technical, analytical, or otherwise highly specialized duties must be performed the majority of the time, even with a C-Suite title.
- Financial viability: Evidence the startup can pay the required wage such as VC funding, revenue, MSA’s/statements of work, or credible financial projections.
- Clear need for expertise: Product roadmaps, tech plans, patents, or data demonstrating why the Beneficiary Owner is essential to the business.
For early-stage companies, this visa can be a powerful bridge: 3 years of stability (18 months for initial filing and one 18-month extension **additional extension may apply), and flexibility as the company scales.
Things to also consider:
- Beneficiary Owners are subject to the H-1B lottery unless the business is cap exempt or affiliated with a cap exempt organization.
- Beneficiary Owners must be paid the local prevailing wage for startup founders (typically high) as determined by the DOL for executive roles.
- Can be used for “concurrent” employment, which allows Beneficiary Owners to have a regular job while also engaging in entrepreneurial activities.
- C Corp must have been formed within the past 5 years.
- An additional extension can be granted after the second 18-month period in three-year increments for a maximum of 6 years unless eligible for an extension beyond the 6-year limit like other H-1B workers.
- Cannot pursue the PERM route for a green card, but other Green Card options may apply such as an NIW or EB-1A.
If you’re a founder exploring U.S. immigration options, or a recently laid off H-1B worker looking to make a fresh start, the H-1B Beneficiary Owner option might be more accessible than you think.
If you want support in creative strategies that accounts for a recent lay-off, you can contact Pollak PLLC to schedule a consultation and review your options.
