21–28 of 28 posts
For hardware startups I can strongly recommend considering HK/Shenzhen, as I can personally attest that sourcing, consulting, manufacturing, and capital are readily and cost-effectively available.
Earlier quoted context omitted.
> I'm also thinking about a US based corp using Atlas from Stripe. I was thinking of Stripe as well, but unfortunately they don't support LLCs as yet. Which means I'll be doing all the leg-work myself. I will be noting down all my steps and will one day blog about my whole startup experience. That said, since stripe now works with US based companies. I may apply when they do roll-out LLC support so then I can get som…
Thanks for the in-depth reply! > That is of course, if they'll have me! Go ahead and apply. You don't have to actually purchase the company, just because you applied. We already got accepted and can now go ahead, if we want to, at any point. Also, I don't think they are too picky. We got accepted within 2 business days. > I have this same view for the LLC. The only issue I have so far, is dealing with long distance c…
Skype allows to buy US phone number and will receive incoming calls to it.
Growing a business takes money. Silicon Valley is (for now) where the most money is. It makes sense from that perspective. Good luck with your venture:)
Without these answers I'm affraid we can't really provide any valuable insights for you.
Related question: How do taxes work for companies which are incorporated in US and operate in a second country ?
Can you clarify the meaning of "operate?" Do you mean operate or is being managed? If you mean "operate," then there isn't really much to add. If you are performing some sort of SaaS (like Netflix), the US company will pay tax on worldwide profits. The other jurisdiction may assess a withholding tax, but in practice it is difficult to collect it from consumers. If you have people selling things in another country and…
Thank you soloadvnturer
I had in mind YC companies. They are required as a matter of procedure to incorporate in the US before funding is released.
I always had a nagging suspicion it is a more complex issue than meets the eye.
In many cases these companies (operating in markets outside the US)also frequently incorporate in their home countries (which host their target markets) eg India, South-Africa, Nigeria as the case may be
Earlier quoted context omitted.
Yes. Why wouldn't they?
Depends if they see it as a vehicle for tax avoidance.
I don't want to be rude. But unless you are an accountant or really looked into this. You don't know what you are talking about. There are a lot of UKers on HN and a many are looking at Stripe Atlas. Things like this will undoubtably freak them out.
You are insinuating that HMRC views those setting up companies outside of the UK in order to avoid tax. This is not the case.
I've spoken to some US investors and the general consensus is that having a UK company is not seen in a positive light. It is preferable to have either an LLC or C-Corp.
Further more. From the article [1]: "HMRC argued that the profits taxed in the US were the profits of the LLC, whereas the profits taxed in the UK were the distributions made by the LLC to its member."
With respect to profits of the LLC: The first part is very important. HMRC themselves are stating that if profits of the LLC are repeatedly put back into the company and NO distributions to UK residents are committed. There is no tax liability.
With respect to profits on the dilutions [1]: "The Court concluded that the profit by reference to which Anson’s UK tax liability was computed was the profit arising as a result of the business being carried on by the LLC – this was undeniably the same profit on which Anson was taxed in the US and therefore double tax relief should be available."
So now there is NO question on any tax avoidance.
Finally, HMRC does have rules[2] which may affect Stripe UKers for as long as they reside in the UK.
I do strongly urge anyone reading this to confirm my research with an accountant, which I will be doing myself.
But please, do not believe random posts on HN!
[1]: http://www.williamfry.com/newsandinsights/news-article/2016/...
[2]: https://www.gov.uk/government/publications/issue-briefing-ta...
Earlier quoted context omitted.
Depends if they see it as a vehicle for tax avoidance.
> Depends if they see it as a vehicle for tax avoidance. I don't want to be rude. But unless you are an accountant or really looked into this. You don't know what you are talking about. There are a lot of UKers on HN and a many are looking at Stripe Atlas. Things like this will undoubtably freak them out. You are insinuating that HMRC views those setting up companies outside of the UK in order to avoid tax. This is n…
So you can certainly open an LLC from the UK but you'll be liable for UK Corporation Tax so I'm not 100% wrong.
I should clarify my previous statement. You can, of course, incorporate anywhere you like from the UK but HMRC will just ignore the fact you have incorporated abroad and tax you as if you were a UK corporation.