Can people with H1B (work visa) in the US do a search fund?

searcher profile

November 19, 2017

by a searcher from Northwestern University - Kellogg School of Management in San Francisco, CA, USA


17
10
189
Replies
10
commentor profile
Reply by a searcher
from Northwestern University in Evanston, IL, USA
Agree with the guys above. I have spoken to a few lawyers so far. If you ask them, their initial answer is never a "no", apparently, because US law tend to have several loopholes, and also because it is a source of their business. Bottom line (based on what I know so far) - a foreigner can start a search fund, no problem. The law for this is relatively straightforward and little paperwork is involved. But the challenge will be during the acquisition phase. The current policy framework does not support that. Possible solutions - investor visa (it has its own criteria) or wait for your PR. Another extreme possibility is there if you can "prove" to USCIS that you have a specialized skillset that is critical for the success of the acquired business - something you can bring up with the lawyers if you have it.
commentor profile
Reply by a searcher
from Northwestern University in 195 Santa Clara Ave, Oakland, CA 94610, USA
You can't realistically search with a H1-B. You would need the entrepreneur visa Obama tried to introduce before he left power, where you can get a visa if you raise $250k+ from investors in the USA. With H1-B, you are supposed to be working fulltime for some company in the USA, meaning you shouldn't have enough time to search for companies to buy, except you find a way around this. Most internationals like me end up waiting until they get a green card, or raise funds to run a search in their home country if the idea of search funds has gotten to that country. Things are growing in Europe > Asia (India) > South America (Brazil, Chile) > Africa (Kenya)
commentor profile
+8 more replies.
Join the discussion