- Jurisdiction
- Illinois
Can I invest in Real-Estate through LLC, in which I am a passive member and 50% shareholder, while on H1-B Visa?
Details:
- My American citizen friend and I set up an LLC partnership last year and generated $10K from a side project.
- I was on STEM-OPT at that time. My American friend is the active member of the LLC, I am passive.
- The same partner would now like to use the $10K from the LLC as a downpayment for an investment property. I will have no/minimal involvement in the transaction and would be passive in the activity.
SPECIFIC QUESTIONS:
- Can the LLC (in which I am 50% shareholder) proceed in making this investment while I am on H-1B visa status?
- Would making this investment jeopardize my pending Green Card application? (e.g. K-1 schedule activity raising eyebrows later?)
Thank you so much for any advice on whether it is safe to proceed.
Details:
- My American citizen friend and I set up an LLC partnership last year and generated $10K from a side project.
- I was on STEM-OPT at that time. My American friend is the active member of the LLC, I am passive.
- The same partner would now like to use the $10K from the LLC as a downpayment for an investment property. I will have no/minimal involvement in the transaction and would be passive in the activity.
SPECIFIC QUESTIONS:
- Can the LLC (in which I am 50% shareholder) proceed in making this investment while I am on H-1B visa status?
- Would making this investment jeopardize my pending Green Card application? (e.g. K-1 schedule activity raising eyebrows later?)
Thank you so much for any advice on whether it is safe to proceed.