Viewing profile — SkyAndSand

Oh, I didn't know that. Thanks a lot!

Yes, I use macOS as development VM on a maxed out 16 inch M1 MacBook Pro. It all works as expected, except you don’t have any VM settings (e.g. how much ram / cpu you want to give …

My two cents: Introduce a wealth tax that only kicks in after $1B or even $10B so people still have plenty of motivation to work and get rich. You are allowed to keep control of a …

Speaking from experience - yes you can create a LLC without being a US citizen or green card holder. You also can get bank accounts with Wise and Mercury for your company without t…

Awesome, thanks. May I ask why you went with the C Corp and not an LLC? Probably to make it easier for new investors?

Understood, I sent you an email.

I do, what do you want to know?

Why do you need my email for that? :)

I’d also love to learn more. Sounds interesting!

What exactly does the Cayman Delaware sandwich look like? Cayman Holding and Delaware C Corp as operational company? What is the purpose of the Cayman holding then?

I understand that. But why would a US company need a NL bank account?

So basically you are a group of non US citizens living in the US and wanted to have a shared entity to do investments? Well I guess then a Delaware C Corp is the logical solution? …

Very interesting setup. I’ll have to think a bit about that. Thanks for the write up.

Are you sure? Because at the YC doesn’t invest in them unfortunately.

Well, you have these jurisdictions already (e.g. Cayman). However if the employees are all based in other countries then you’ll always have to comply with employment regulations th…

Thanks for the offer. Will get in touch later but I think that public replies could hopefully be helpful for others. The setup sounds great! I assume that you flipped to a C-Corp? …

Is that an assumption or are you speaking from experience?

That is interesting! Which bank did you end up with finally and how did you convince them? Couldn’t you use something like Wise in the beginning?

That is good advice. What would you do in case there wasn’t a US founder?

Well the question is - will owning a share in a US entity make you a “US Person”? My initial assumption that seems to be confirmed by HSBC and the ATO is “no”.

Yes, that is a good point which applies to a lot of high-tax countries. If you are a single company founder and run a company in jurisdiction B from country A then country A will u…

Totally agree, but why would you need a corporate bank account in Germany? You could simply use the US bank accounts?

Yes, but besides Cayman I don’t think investors would really be happy to invest in tax havens. Also you normally run into issues with substance requirements, opening bank accounts,…

Well, wouldn’t a company like GitLab run into the same issues if most of their employees are not in the US?

And that it actually won’t be recognized as legal entity after Brexit if it is based in Germany: https://www.ihk-krefeld.de/de/international/aktuelles/brexit...