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A comment on Folks On Student Visas Leave Comment About Your Burning Start Up Urge!. Parent comment

Re:Folks On Student Visas Leave Comment About Your Burning S... by arasakik on Sunday March 11, 2007 @06:15PM (#3649)
So essentially what you're saying is that any assets that the company makes cannot be transferred to me until I am an American citizen? I wonder what the consequences would be if I am an H1-B holder and revenues from moonlighting grew to a point where I could quit my day job.

Since I am a Canadian, I also wonder if it would be easier to just incorporate in Canada instead - this does not seem optimal either, as Canadian taxes are incredibly high, and the fact that I own a company there would mean that I would not be able to maintain non-residency status (and thus am not exempt from Canadian taxes) =(

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Re:Folks On Student Visas Leave Comment About Your Burning S... by jward on Tuesday March 13, 2007 @05:47AM (#3862)
I don't know if the visa thing messes it up, but as a generic Canadian you can own American companies with no issues. I believe the issue is in you paying yourself a salary or the like from the corp. However you should be able to collect dividends just fine. It's been a while since I looked into it for myself, so don't trust me on this. Personally I ended up going for a private Alberta named limited corporation for several reasons.

The tax rate starts at 16% if you're poor poor poor like me and maxes at 33% or so total for both federal and provincial. Check into the US corporate tax rates. If I remember doing my research right, you might be better off being a Canadian.

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