The Setup
Arjun arrived in Philadelphia from Mumbai for his Wharton MBA in 2022. By his second year, he had a working prototype of a supply chain visibility tool — and a spreadsheet of 12 paying pilots. The problem: he was on F-1, couldn't take external salary, and had 18 months until graduation.
The Structure He Used
Arjun did something most F-1 founders don't know is possible: he structured himself as an independent contractor through the university's incubator program, keeping income within the bounds of CPT. This isn't available everywhere — but check with your OIS whether your school has a similar arrangement.
After graduation, he filed for OPT immediately and used the 90-day window to hire himself through an employer-of-record service while his LLC was pending state approval.
The Cap Table Play
Critical detail: Arjun held only voting preferred shares, not common stock, during OPT. This was intentional — his immigration attorney advised that certain equity structures can complicate "employer-employee relationship" tests if USCIS ever audits an OPT self-employment claim. He converted to common at Series Seed.
What He'd Tell You
- File OPT the day your OIS window opens. Not a day later.
- Hire an immigration attorney before you structure anything. $500 now saves $50,000 in problems later.
- STEM extension is your friend — plan your first 12 months around getting to E-Verify-eligible employment by month 10.
- Don't let visa anxiety stop you from building. The structure exists. Learn it.