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I might be wrong, but I believe you can. Im talking about EAD obtained through a pending GC process. I guess, the caveat is you need to pay yourself some salary
by bigbang 18y ago
I might be wrong, but I believe you can. Im talking about EAD obtained through a pending GC process. I guess, the caveat is you need to pay yourself some salary and your role in startup has to be similar to the one you applied with.
Even with EAD obtained thru F-1, I have heard lot of people working on thier startup without working anywhere else.
Im sure you must have looked already, but might be worth checking on the rules. And also post them here :)
- blizkreeg 18y agoHuh, that's interesting (and new to me). I think the caveat might be a thorn -- if that is true, and if you have to pay yourself a salary similar to or in the same pay scale as the position, then I'm out of luck :) I'll look around and see what I can dig up on this.
- Dilpil 18y agoNothing a little bit of good old fashion American financial wizardry can't solve. Take a $60k cash advance out from a credit card (or other source). Next, invest $60k into your start up. Finally, pay yourself $60k, and use that to pay off the credit card.
- Brushfire 18y agoYou forgot a step: Lose about 20% in credit card fees, employment taxes, and income taxes. Still might be worth it, though.
- Dilpil 18y agoAmerican financial wizardry is all about forgetting steps.
- NonEUCitizen 18y agoIf that works, then your startup must be building a perpetual motion machine?
- prpon 18y agoI've done this process of quitting a job while on EAD (pending GC) recently. You need a) a letter from a full time job which pays at least as much as your GC application. b) transfer the GC application to yourself/your lawyer. Yes, financial wizardry can get the job done but when push comes to shove, you will end up paying employer taxes yourself.
- blizkreeg 18y agoI suppose my situation is very similar to yours. I know that one can be in legal status while working part-time on an H-1B visa. I thought I read somewhere that the same applies to an EAD, since on an EAD you're okay even if you're laid off.