"If you are working currently in US on a H1-B visa, You CAN start a business (a C corp) just like any other, as long as YOU DO NOT work for that company. You can only work for the company that sponsored your H1B and only the kind of work specified in the petition. There is no deviation of any kind to this rule.
However, you can establish a company and appoint a director or CEO to run your business. For someone who is just starting the Entrepreneurial dream, it is a serious obstacle. But, the positive side of it is you don`t have to kill your dreams or delay. You `can` participate in some restricted activities of the business, in the role of investor, but certainly not of executive nature.
Many Entrepreneurs partner with Permanent Residents and/or citizens to start their businesses. They remain as passive investors in the business, but they can own everything (if desired) about the business and leave all the management to the rest of the team.
So if you have a dream and you are serious about it, talk to an attorney to get started. Clarity and a trusted Legal partner are very important to realize the dream of entrepreneurship."