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I am excited but I am really curious about how I can bootstrap my startup while working for a big Co. on H1B. Is it possible with these "updated rules"? EDIT - the "full time" sounds like a major hurdle for those who want to bootstrap. Am I correct?
I hope this happens 10 years ago. But congratulation to all H-1B hacker news readers. You now can do something amazing without worrying about your visa.
Unfortunately, not really true. The real strength for natives is that they can spin up a company on their own time- create a product and throw it out there. If it works- great- quit your day job and go to your startup. If it doesn't, no big deal- you still have your full time job. Us H1B-ers are still tied down. I'd have to transfer my visa to my new, fledgling company. If it fails, I have to leave the country.
Earlier quoted context omitted.
Well the way I understand it. That's how it should work. You keep working on your existing H1b for Google or whatever, start your own company. Give yourself a job in your company, joining to which depends upon the new H1B that you will apply for. And once it is approved, you can quit your previous job and hence the previous H1B. Correct me, if am totally off on this.
I think you're right, but it still complicates things. You'd basically have to set up a company, then not do anything with it for a number of months. This is exactly the kind of thing that could make investors very wary.
But also, now you are able to create a company that is profitable from day one, and might not need any external funding for a long time. At least the opportunity is there to create something.
Not all companies need investing. :)
I am excited but I am really curious about how I can bootstrap my startup while working for a big Co. on H1B. Is it possible with these "updated rules"? EDIT - the "full time" sounds like a major hurdle for those who want to bootstrap. Am I correct?
Absolutely. You're still constrained to one job at a time, so sadly this isn't very big news at all.
Earlier quoted context omitted.
Unfortunately, not really true. The real strength for natives is that they can spin up a company on their own time- create a product and throw it out there. If it works- great- quit your day job and go to your startup. If it doesn't, no big deal- you still have your full time job. Us H1B-ers are still tied down. I'd have to transfer my visa to my new, fledgling company. If it fails, I have to leave the country.
yes but at least now you can actively seek venture capital!!
Don't get me wrong, this is a step in the right direction. But the mythical Startup Visa it is not.
Wait, are they saying I can create a company on my own, no holds attached and go work for it? (minimum investment etc.) A few questions - does it let me build apps and publish them to the Appstore to make money? (Since that doesn't count as working fulltime for the company I assume). How do they prevent Masters students who are on an OPT from creating their own companies and sponsoring a H1B for themselves? No regula…
No, they are not saying that: "... business owners on H1-B visas could work for their own companies, provided that they work full time for the company and are treated like an employee . For example, the company could have a board that is able to hire, fire, pay, supervise or otherwise control the worker like they would any other staff member." I don't know how many startups have a board that can fire the founders...
Wait, are they saying I can create a company on my own, no holds attached and go work for it? (minimum investment etc.) A few questions - does it let me build apps and publish them to the Appstore to make money? (Since that doesn't count as working fulltime for the company I assume). How do they prevent Masters students who are on an OPT from creating their own companies and sponsoring a H1B for themselves? No regula…
No, they are not saying that: "... business owners on H1-B visas could work for their own companies, provided that they work full time for the company and are treated like an employee . For example, the company could have a board that is able to hire, fire, pay, supervise or otherwise control the worker like they would any other staff member." I don't know how many startups have a board that can fire the founders...
Earlier quoted context omitted.
Yes, they do. The point I was trying to make was that I imagine that the new directive on the H1B's allowing them to be used by startup-y people would probably apply to E3's too. ie, Go to the US to work for your business, and take your partner along who'd be able to work wherever they'd please.
I am not sure why your E3 partner would be able to work if they cannot today... Partners of H1B's have H4 status and are not allowed to work. Of course, they can file for H1B, but could not a spouse of an E3 file for an H1B (or E3) today?
The point I was trying to make is that the E3 is possibly a better option than a H1B for any Australians interested in working in the US.
Earlier quoted context omitted.
Unfortunately, not really true. The real strength for natives is that they can spin up a company on their own time- create a product and throw it out there. If it works- great- quit your day job and go to your startup. If it doesn't, no big deal- you still have your full time job. Us H1B-ers are still tied down. I'd have to transfer my visa to my new, fledgling company. If it fails, I have to leave the country.
yes but at least now you can actively seek venture capital!!
b) Noone has to know.
c) Although different apporaches exist,my opinion is that you should have probably already made something that a lot of people use even before you talk to the VCs.By doing this you were working for your company without an H1B.But this issue can be solved if you refer to point - B above.
Earlier quoted context omitted.
yes but at least now you can actively seek venture capital!!
a) Although I agree it is a gray area,the USCIS is probably not going to come after you for "working" for your company for free while you waited for the H1-B approval. b) Noone has to know. c) Although different apporaches exist,my opinion is that you should have probably already made something that a lot of people use even before you talk to the VCs.By doing this you were working for your company without an H1B.But…
Except the investors, who would realise immediately. It's all very well to say that USCIS "shouldn't" and "probably won't" do things, but:
1) That doesn't reassure me much. I don't want to be deported.
2) That shouldn't reassure an investor much, either. If they realise you are going against immigration law they might run from your company at sprinting pace once they realise the founder could be deported.
I want these kind of changes because I want to be legitimate.