Our experience with Stripe Atlas (2017)
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Our experience with Stripe Atlas (2017)
1–10 of 85 posts
Re: Our experience with Stripe Atlas (2017)
#2How much does it cost (everything included) per year approximately to run a company with zero or very close to zero revenues in US ?.
I am talking about cost including Lawyer charges, Accountant charges, Tax, agent charges etc.
Re: Our experience with Stripe Atlas (2017)
#3How much does it cost (everything included) per year approximately to run a company with zero or very close to zero revenues in US ?. I am talking about cost including Lawyer charges, Accountant charges, Tax, agent charges etc.
Yes, and what are the tax implications for foreign nationals operating a us based company?
Re: Our experience with Stripe Atlas (2017)
#4As 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 startup with little revenue.
Happy to hear from people in EU that made this work and what are the total costs (especially tax-wise in your own country).
Re: Our experience with Stripe Atlas (2017)
#5I've noticed a lot of people setting up UK limited companies for similar reasons - you can do it online for a few pounds and there seem to be very few checks done on your identity or business plan when you do so.
Re: Our experience with Stripe Atlas (2017)
#6Anyone have experience with Stripe Atlas after starting a foreign entity? I have a Canadian Corporation which I'd like to make a wholly-owned subsidiary of that Delaware C corp (or perhaps the other way around).
Re: Our experience with Stripe Atlas (2017)
#7I've noticed a lot of people setting up UK limited companies for similar reasons - you can do it online for a few pounds and there seem to be very few checks done on your identity or business plan when you do so.
The only problem with a UK company for a non-UK person is it has been my experience that it’s really hard to open a proper UK bank account without UK residency. Perhaps others have had better luck, but for me, that was a significant pain point.
Re: Our experience with Stripe Atlas (2017)
#8As 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…
I agree with this 100%. As a SaaS business they are going to be spending a lot of time working out what state their buyers are in and what tax to add to the sale. For this reason we incorporated in the UK (We are London based) and charged no tax for our US customers. All we had to do was call the IRS and get an EIN to provide to our larger customers, which was a fairly painless and free process.
Re: Our experience with Stripe Atlas (2017)
#9As 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…
I'd advise to find a better accountant. What they are suggesting seems out of touch with reality and my personal experience.
Re: Our experience with Stripe Atlas (2017)
#10My 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?