What does it take to join......

[kapootala]

I have an H1b thru a company where I am right now.
The economic slow down has hit my company.
Last months salary was paid this month.
Things may not go straight for ther staff from now on.
I have been offered a placement by a company where the the staff is only two and they need me to come in as I could be of tremendous help.
The owner is in the digital media interactive business and needs my support.
He will be increasing the number of staff as he proceeds in this year.
Can he apply for a transfer of my H1b to his company.
Are there any INS restrictions to a two man show employing an H1b visa holder.
What are the requirements to enable this to happen.
I am a BCom- India, BS- USA and an MBA - USA
I need the maximum experience inthe USA before I move elsewhere in the world for my future.
Please advise me and I will appreciate all your comments.
Sincerely

[Murali]

As long as company is a legitimate business, pays it taxes, and operate in such business which can justify any foreign workers on H1 as a true need based on the skills ..there shouldn't be any problem.
Number of employee has no significance.

[kapootala]

If H-1B visa transfer is not approved, your original H-1B visa will be lost. So, it is recommended to complete the visa transfer before entering into the new job. is the rumour.

Is the above true....?

Please advise.

Then if the credentials of the new H1b Employer are not accepted for whatever reasons ....do I loose my H1b with my present employer.
My prospective new employer will be applyng for my transfer whilst I am working with my present employer who is not aware I may leave.

Do I have to inform the old employer before I leave him to begin work with the new employer and how should I go about doing this as jobs are scarce
for H1b guys.

I understand that no sooner the INS receipt of acceptance of my transfer application is received by my applicant employer I can start working for the new applicant employer.He will then await the approval of the INS to regularize. Incase they reject the applicant employer then do I loose my H1b....hence should I wait with the present employer till I get an ' All Clear' from the new employer.

How should I go about with this situation.

Thanks