Wondering if Atlas gets a lot of money launderers. Incorporating has always been super easy, but most agents wouldn't open a bank account for you. Especially at this price point.
Our experience with Stripe Atlas (2017)
41–50 of 85 posts
Re: Our experience with Stripe Atlas (2017)
#42What would be really cool is if Stripe Atlas allowed its customers to form an LLC first and then provided a seamless framework to get LLC converted to C-Corp. I’m looking to bootstrap a single founder business and I can’t find good reasons to go with a corporation. I could be wrong though.
if you are not the US citizen you simply can't register a US based LLC.
Re: Our experience with Stripe Atlas (2017)
#43My particular pain point is how to have a Stripe account living in an unsupported country (Brazil). Is Stripe Atlas the best solution? I am starting two very modest side business intending to sell to international customers (mostly US+Canada initially). One SaaS and one content membership. Any ideas?
Hi Soneca, I am also a Brazilian starting two very modest side business intending to sell to international customers: 1) https://www.deploir.com 2) https://www.whoworth.com What a coincidence, huh? In the beginning I also considered Atlas, but that seemed way too much trouble and expenses for two businesses that may or may not be viable. In the end, I decided to go with Paddle ( https://paddle.com/ ). The integration…
thanks for the recommendation -- i'm also a brazilian and i was wondering how much of a hassle would be to do all that for some business i have on the side.
Re: Our experience with Stripe Atlas (2017)
#44What would be really cool is if Stripe Atlas allowed its customers to form an LLC first and then provided a seamless framework to get LLC converted to C-Corp. I’m looking to bootstrap a single founder business and I can’t find good reasons to go with a corporation. I could be wrong though.
if you are not the US citizen you simply can't register a US based LLC.
Neither US citizenship nor residency are requirements for forming a Delaware LLC or Delaware corporation. You can start a business in Delaware from anywhere in the world. I think this is what Stripe Atlas does. The only requirement is registered agent has to be based in Delaware and licensed to do so.
Re: Our experience with Stripe Atlas (2017)
#45My particular pain point is how to have a Stripe account living in an unsupported country (Brazil). Is Stripe Atlas the best solution? I am starting two very modest side business intending to sell to international customers (mostly US+Canada initially). One SaaS and one content membership. Any ideas?
You made my time worth reading HN today guys. It's great to know that there are people facing the same issues who found how to deal with it and shared.
Re: Our experience with Stripe Atlas (2017)
#46Mine had been much better. I expected some glitches, and encountered some. So met expectations :)
Re: Our experience with Stripe Atlas (2017)
#47As a non-US citizen, opening a company in the US is not the hard part. The hard part is figuring out taxes and legal "configuration" in your own country, where you live. I'm not an expert, but I hear from accountants that you have to figure the thing out properly and you end up having an accountant for your company abroad and one for yourself. It might end up being too much expensive if it's for a bootstrapped startu…
Be aware that incorporating in another jurisdiction doesn't mean your operations aren't taxable according to the local laws of where you are.
For example, if a company is incorporated in the US, but all it's employees/owners are physically located in Germany, then under German law, the "place of ordinary business" is Germany, and the company gets taxed as though it's a German company.
I believe the same sort of principal applies in most jurisdictions.
Re: Our experience with Stripe Atlas (2017)
#48My biggest hesitation with Atlas is the C corp part. I don't want funding, I want to start small and bootstrap. For this, LLCs seem best so you don't get taxed twice. My most optimistic first year in revenue would be $30-60k, still well in side business territory. Am I missing something, or is Atlas not for me?
the way around double taxation in a corp is paying yourself properly as an employee/director (which is tax deductible) and generally reinvest profits (with the very occasional dividend or share issuance/buyback). founder's stock is massively tax advantaged if set up correctly.
but you're right, it's not well-suited for a small business owned by one person.
Re: Our experience with Stripe Atlas (2017)
#49My biggest hesitation with Atlas is the C corp part. I don't want funding, I want to start small and bootstrap. For this, LLCs seem best so you don't get taxed twice. My most optimistic first year in revenue would be $30-60k, still well in side business territory. Am I missing something, or is Atlas not for me?
If you're a solo employee in a C-Corp, I'm pretty sure you can file as an S-Corp, which provides the same pass-through benefits of an LLC. When I was incorporating and found that out, it really confused me why everyone was so against C-Corp.
Also, if you are working in California, I believe you can waive the first year of foreign franchise tax.
Re: Our experience with Stripe Atlas (2017)
#50Earlier quoted context omitted.
if you are not the US citizen you simply can't register a US based LLC.
Neither US citizenship nor residency are requirements for forming a Delaware LLC or Delaware corporation. You can start a business in Delaware from anywhere in the world. I think this is what Stripe Atlas does. The only requirement is registered agent has to be based in Delaware and licensed to do so.
[deleted]