What is H1B? : H1B is a nonimmigrant visa or classification used by an alien who will be employed ( in United states) temporarily in a specialty occupation. H1B requires a sponsoring United States employer.
An alien can be in H1B status for a maximum period of 6 years at a time. After 6 years an alien must remain outside the United States for 1 year before another H1B petition can be approved.
It is possible to get your H-1B visa approved for more than 6 years in some cases depending upon your employment based green card processing status.
H1B visa holder can buy house or any other real estate property in USA. H1B visa holder can also work invest money in stocks, mutual funds, bonds etc. H1 visa holder can not work as self-employed or freelancer and do contract type of work in free time.
An alien may change H-1B employers without affecting status, but the new H-1B employer must file a new Form I-129 petition for the alien before he or she begins working for the new employer. The merger or sale of an H-1B employer’s business will not affect the alien’s status in many instances.
H1B visa steps :
a) Find an H1B Job with a US Employer / sponsor.
b) Your sponser files your H1B Visa Application with the US Immigration Bureau.
c) US Immigration Bureau approves your H1B visa application.
d) now you are eligible to work in the USA for your sponser.
H1B workers are legally required to pay the same taxes as any other US resident, including Social Security and Medicare.