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Question

Hi Andrew, hope you are doing well and staying safe during pandemic. I am Indian citizen, my current immigration status in US is H4 and have applied for an EAD late last year (pending approval). I am software engineer by profession and have been venturing a FinTech startup since last year. The product (which is a web/mobile application) of this startup is currently in pre-launch stage. To be able to launch the product, I need to form an LLC entity in Delaware and open a bank account for the business transactions. This business will not be making any profit any time soon; nor am I expecting to take any profit out of this business for at least next 2-3 years. My question is - Can I register and own this business entity with my current immigration status (H4 with EAD pending approval)? If so, once the entity is formed, can I report business expenses while filing my personal tax returns? I encourage you to suggest any alternate route that I should consider to be able to launch the product and keep going with my venture considering my immigration status as it's uncertain how long will it take for my EAD approval. I really appreciate your help to answer this question. Thank you!

User's Location: Needham, Alabama, United States of America

Category: All Other US Visas