So we founded our company more than one year ago, we are two US citizens and one chilean citizen. The company is registered as an LLC but we plan to move to a C-Corp later on.
Our chilean co-founder has the CTO position, but he did develop our product from scratch and he left the university to work full time in our company. There are contracts signed that ensure him his equity and co-counder position. From what we have read, most working visas require a university degreee to be accepted, but our guy doesn't have one.
We are about to get a big investment and we want to move that guy here, what are our options to get him working in the US?
Without being an attorney (and this is a question for an attorney...), I can say this:
what are our options to get him working in the US?Nil.
From what you described it sounds like the guy was on a student visa when he joined your team. Now that he left his school - the visa is expired and he's staying in the US illegally. Also, working while still in school was a breach of his status, making him illegal in the US even earlier.
People who had stayed in the US illegally cannot get any visa for a long period of time, other than if they get married to a US citizen and apply for a waiver (and received it of course).
Regardless - H1B does indeed require a university degree, or acceptable experience instead (every 3 years of qualified work experience count as 1 year of school).