F1 student starting a company outside his/her field

You may be listed as co-founder of a US company and also attend an occasional board meeting on F-1 status as long as your F-1 studies are the principal reason you are in the U.S. If not, you will need to obtain a B-1 visa to attend board meetings. Of course, if you start doing more than the occasional board meeting, then you will need either OPT or a visa that permits you to work.

You explain what you are doing very well. You are allowed to create companies, invest your money and take care of that investment. You just cannot be involved in any way in the day to day running of the company. And it sounds like you are taking care. If I were having a conversation with you, I would want to know the nature of your equity, and whether it is "in kind" - software or software patents or any work that you have done, and may be "paid" for through the company as dividend. Don't rely on the internet - you can't tell an immigration officer "the internet said it was ok" - go speak with an immigration attorney who is also interested in start up companies and understands the immigration issues involved in becoming an entrepreneur. Good luck.

You can be a co-founder, lend your name, and participate in ocassional meetings. You cannot be involved in day to day operations nor do any actual work. You cannot get more than sporadically and peripherally involved in company meetings. Remember, you are a student. Before you do anything ,you should consult an immigration attorney.