Myself and two other partners are planning to start a C-Corporation. One of the partners is on H1B visa sponsored by his employer and he is getting a W2 from them. We have few questions:
Can a person on H1B Visa with a W2 be a founder/Owner of a C-Corporation
If answer is no to # 1, then what are his options. Is there such thing as passive investor? And how can we allocate him share of the company as a passive investor?
If he becomes a passive investor, does that mean he has to buy his part of the shares? And if we sell him share at lower value (example: 1cent per share) does that lower the valuation of our company?
Are there any tax liabilities in case we have to close the C-Corporation?