s-corp

[bigboy101]

I'm on an H1-B in the US. Is it possible for me to open an S-corp? I read that only resident aliens are allowed to be shareholders of an S-corp. I'm a non-resident alien in the eyes of the USCIS but I'm a resident alien as far as the IRS is concerned. So does that mean I can open an S-corp legally? Or not? And would that affect my H1-B status?

I'm planning on using this S-corp to invest in real estate.

Thanks

[Mark T Serbinski CA CPA]

If you are a legal resident of the U.S. (which you are), you can own a subchapter S corporation.

You should, however, consider how this may affect your Canadian tax situation, if you are still considered a tax resident of Canada.