Stay in OPT as long as you can. You get more flexibility that way. Try getting the 17 month (I think) extension.
If you are on an H1B, you need to get a US person co-founder and have them 'sponsor' you. Be wary about the start up failing because as soon as the sponsor breaks their contract, you will be out of status [1]. This means you may have to leave the country immediately.
The E5 visa [2] is the best alternative. If you can secure funding of around $500,000, you get the right to live and work in the US almost as a US person. You can work for yourself, travel in and out of the country as you wish, etc.
Terminated H-1B employees should be aware that time is not on their side. If the employee has plans to have another H-1B petition filed on his or her behalf, or to change to another nonimmigrant status, those plans should be implemented as quickly as possible.
Re: EB-5
The $500k number is for a (very long running) pilot program designed to drive investment in economically depressed areas. The normal amount is $1M. It can't just be invested in any company either, you have to show that the investment will create jobs (at least 10 IIRC) for US nationals. The process of getting a company approved is quite involved.
The E-2 visa would be a better option if OP is from a treaty country. Less capital ($50k-$100k should suffice) required and no job creation requirement as with the EB-5.
Stay in OPT as long as you can. You get more flexibility that way. Try getting the 17 month (I think) extension.
You need to start working at a company with no more than total 90 days of unemployment between jobs. Also, the 17 month extension works only if the company is enrolled in everify.
The e-verify process is very easy and if you have incorporated your startup you can go ahead and do the e-verification yourself. Keep in mind that you are employee of your own company, so as long as the company is registered you should not have the 90 day unemployment problem.
Comments
Stay in OPT as long as you can. You get more flexibility that way. Try getting the 17 month (I think) extension.
If you are on an H1B, you need to get a US person co-founder and have them 'sponsor' you. Be wary about the start up failing because as soon as the sponsor breaks their contract, you will be out of status [1]. This means you may have to leave the country immediately.
The E5 visa [2] is the best alternative. If you can secure funding of around $500,000, you get the right to live and work in the US almost as a US person. You can work for yourself, travel in and out of the country as you wish, etc.
[1] http://www.klaskolaw.com/articles.php?action=view&id=8
[2] http://en.wikipedia.org/wiki/EB-5_visa
Re: EB-5 The $500k number is for a (very long running) pilot program designed to drive investment in economically depressed areas. The normal amount is $1M. It can't just be invested in any company either, you have to show that the investment will create jobs (at least 10 IIRC) for US nationals. The process of getting a company approved is quite involved.
The E-2 visa would be a better option if OP is from a treaty country. Less capital ($50k-$100k should suffice) required and no job creation requirement as with the EB-5.
You need to start working at a company with no more than total 90 days of unemployment between jobs. Also, the 17 month extension works only if the company is enrolled in everify.
The e-verify process is very easy and if you have incorporated your startup you can go ahead and do the e-verification yourself. Keep in mind that you are employee of your own company, so as long as the company is registered you should not have the 90 day unemployment problem.
I can confirm a friend incorporated and did the e-verification themselves and indeed did not have the 90 day unemployment problem.