H1B visa holder owns a foreign company

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You need to consult an immigration lawyer directly for a full evaluation of how the law applies to your unique situation. I can only answer in general terms. 1) No, it isn't - from an immigration/unauthorized employment perspective, you can own the Indian entity (I can't speak to any rules governing technology transfer). 2) You can do work which accrues to the benefit of the Indian entity, even while here. 3) You need to speak to a tax lawyer about this; there may well be tax liability. As an H-1B you are almost certainly a resident for tax purposes and my understanding is that the U.S. taxes on global income. I don't know that payment to the company as opposed to you directly would be sufficient to shield that income from taxation. Speak with an immigration lawyer for the first two questions, and an accountant or tax lawyer on the third.