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Peter - I am currently living in US and I am on H1b.I have plans to start a company with my partner who currently has a green card.

Assuming i hold a minority stake, and have an employment contract Can i transfer my h1b? Can the company also sponsor my green card in the future?

Likely yes but consult with an immigration attorney familiar with startups to file this because there are right and wrong ways to file such petitions.