Self-Employed in OPT

[Viking19]

What is the name of your state (only U.S. law)? New Jersey

Hello,
I recently completed by studies from one of the colleges of NY state.I'm on OPT rightnow.
One of my friend who is a US Citizen is forming a company and he wants me to be a part of it as a co-founding member.My questions are that can i use this to demonstrate that im self-employed? If so what are the restrictions? Can i get and 17 month extension(Im a STEM major) if i stay self-employed? How can i get or file H1B in this case? And how long will i have to wait before i can file H1B?

If this doesnt work-out my friend is willing to hire me as a manager so that its easy to demonstrate the employee-employer relationship.In this case what will be the restrictions on myself and on my friend and his company? Can i get and 17 month extension(Im a STEM major) if i stay self-employed? How can i get or file H1B in this case? And how long will i have to wait before i can file H1B?


Thank you for your time and answers in advance

 

[woodykas]

Students on OPT may start a business and be self-employed. In this situation, the student must work full time. The student must be able to prove that he or she has the proper business licenses and is actively engaged in a business related to the student's degree program.