Going on a tangent, what are the primary reasons people incorporate in Delaware as opposed to say Nevada or Wyoming? Is it mainly because more lawyers nationwide are more familiar with Delaware laws?
Opening a Delaware Corporation: an Incorporation Guide for Foreigners
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Re: Opening a Delaware Corporation: an Incorporation Guide for Foreigners
#22Going on a tangent, what are the primary reasons people incorporate in Delaware as opposed to say Nevada or Wyoming? Is it mainly because more lawyers nationwide are more familiar with Delaware laws?
No its about trying to pay less tax. It will cost more in fees etc.
Re: Opening a Delaware Corporation: an Incorporation Guide for Foreigners
#23Going on a tangent, what are the primary reasons people incorporate in Delaware as opposed to say Nevada or Wyoming? Is it mainly because more lawyers nationwide are more familiar with Delaware laws?
Delaware law is very favorable to the corp.
As an aside: Nevada used to be a big flag to the IRS, since it was one of the few states (the only?) that did not data share with the feds.
Re: Opening a Delaware Corporation: an Incorporation Guide for Foreigners
#24Going on a tangent, what are the primary reasons people incorporate in Delaware as opposed to say Nevada or Wyoming? Is it mainly because more lawyers nationwide are more familiar with Delaware laws?
check this out! -> http://news.ycombinator.com/item?id=2997975
Re: Opening a Delaware Corporation: an Incorporation Guide for Foreigners
#25Note: $2K is about $750 too high. (Hell, I think the whole thing is way high for what is a cut and paste exercise to a junior lawyer. I think this industry is ripe for a startup to make a boilerplate, perhaps open-source.)
Re: Opening a Delaware Corporation: an Incorporation Guide for Foreigners
#26Thanks for sharing. As far as I know there is no double tax treaty between Brazil and the US. Does this mean you will have to pay income tax twice? Also very interested to know how did you get a US bank account. As far as I know it is not possible to do it remotely since Patriot Act has been passed.
The US doesnt have any double tax treaties. If you are Brazil resident, but have US income you may well be double taxed if you are employed in the US. If you are not Brazil resident then Brazil wont tax you. Only the US taxes non resident citizens I think.
Re: Opening a Delaware Corporation: an Incorporation Guide for Foreigners
#27Note: $2K is about $750 too high. (Hell, I think the whole thing is way high for what is a cut and paste exercise to a junior lawyer. I think this industry is ripe for a startup to make a boilerplate, perhaps open-source.)
I don't think so. The lawyer helped us a lot with incorporation, TOS, Stock options, so we spent U$2k. This is not directly related to incorporation, but we did some of this stuff in the same pack.
Will clarify on the next post.
Re: Opening a Delaware Corporation: an Incorporation Guide for Foreigners
#28Great! Thanks for sharing...
Re: Opening a Delaware Corporation: an Incorporation Guide for Foreigners
#29Going on a tangent, what are the primary reasons people incorporate in Delaware as opposed to say Nevada or Wyoming? Is it mainly because more lawyers nationwide are more familiar with Delaware laws?
check this out! -> http://news.ycombinator.com/item?id=2997975
good link: about the only things I disagree with are points 4 and 5.
1) I could be wrong but I believe Delaware is more expensive in fees compared to either Nevada and Wyoming.
2) It's not that hard to find corporate officer names in either Delaware or Nevada. I feel that this point is false.
Re: Opening a Delaware Corporation: an Incorporation Guide for Foreigners
#30Going on a tangent, what are the primary reasons people incorporate in Delaware as opposed to say Nevada or Wyoming? Is it mainly because more lawyers nationwide are more familiar with Delaware laws?
Delaware law is very favorable to the corp. As an aside: Nevada used to be a big flag to the IRS, since it was one of the few states (the only?) that did not data share with the feds.
I agree with the Nevada statement.