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Stripe Atlas

stripe.com

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201–210 of 402 posts

Re: Stripe Atlas

#201

Post by ripberge »

tvladeck wrote: post #121

This is cool, but they should not offer a C corp as the default choice. An LLC should be the default for the vast majority of entrepreneurs. The only reason VC-funded companies are C corps is becaused VC LPs don't want to be hit with taxable income (which would flow through the VC to them). An LLC is much better for a variety of reasons: - Flow through taxation = you only get taxed once. With a C corp you pay corpora…

Not so fast. These are getting formed in Delaware, but I believe if you operate in another state you have to register and may be subject to their taxes.

In California there is a "gross receipts tax" based on revenue for an LLC. Do over a million dollars? Pay $6,000 in LLC Fees. Fine for a software co or a law firm not a huge deal. Ecommerce can be a crazy low margin business though and many Stripe customers could get hurt.

http://www.sandiegobusinesslawyerblog.com/2013/05/california...

Re: Stripe Atlas

#202

Post by CryoLogic »

kels wrote: post #154
cynical_sheet wrote: post #144

Earlier quoted context omitted.

You are right and it's also much cheaper to form and maintain an LLC. I think that forming an LLC in Colorado is the cheapest option ~ $250 total costs. That is great if you're just bootstraping and don't know if the business is going to be successful. BTW, if you're not a US citizen + the business is providing services + you're the only owner (single member LLC), then there are NO TAX-paying requirements. Also, the…

I'm in Colorado and it costs only $50 to file for an LLC online. Where is it costing you $250?

Washington also costs around $200-$250 to register an LLC online.

Re: Stripe Atlas

#203

Post by kintamanimatt »

Perhaps the least talked about hidden danger with this service is the fact that by establishing a US nexus, you're putting yourself in the crosshairs of patent trolls. Software patents pretty much aren't a thing in the rest of the world, and you can happily trade from abroad with US customers without patent trolls trying to shake you down. That and the vague potential for national security letters should you have possibly interesting information.

It's all a balance of risk though and for a lot of people the benefits will outweigh these risks. For a lot of people these risks will never materialize.

Re: Stripe Atlas

#204

Post by swampthing »

michaelschade wrote: post #81
glossyscr wrote: post #68

While I really like the idea—a one stop-shop company creator I am a bit unsure if Stripe will achieve the same quality level like dedicated registries which do this for several years. Points I am missing/not seeing: - Can I decide about the administration location (eg also Delaware or does it have to be my actual location)? - Can I get some virtual office with address, mail forwarding, etc, sometimes offered by regis…

> - Can I decide about the administration location (eg also Delaware or does it have to be my actual location)? > - Can I get some virtual office with address, mail forwarding, etc, sometimes offered by registry? After incorporation, you’ll have a registered agent in Delaware with a corresponding address. We’re looking at adding support for incorporation in other geographies as we expand Atlas. > - Is Stripe a full s…

Usually, registered agents don't function as a virtual office - i.e. you can't have business mail sent there.

Re: Stripe Atlas

#206

Post by soneca »

joelcollinsdc wrote: post #117
soneca wrote: post #75

Wow! This solve so many problems that our startup (www.worldpackers.com in Brazil) have! We are a global marketplace, so we have to charge people from everywhere, and stripe still doesn't cover Brazil. Opening a Delaware company is a must have as we are starting a series A fundraising. And the network, wow! BUT... I wonder how achievable is the direct application as a way for getting in the beta. We are not part of a…

love the idea for your startup. hope to use it this summer!

thanks! If you want a promocode for that, email me at rodrigo @

Re: Stripe Atlas

#207

Post by zrail »

yeahrightfam wrote: post #200
tmfrancis wrote: post #168

Earlier quoted context omitted.

The whole purpose of Stripe is to make basic tools for starting an internet business more broadly available and without barriers. The core of our strategy is to eliminate gatekeepers and secret clubs. We’re openly available in 18 countries today (you can see the complete list stripe.com/global) and hundreds of thousands of businesses use Stripe after openly signing up. Because businesses’ livelihoods and revenue are…

"The whole purpose of Stripe is to make basic tools for starting an internet business more broadly available and without barriers." Well, I didn't have to publicly shame PayPal and wait for years to get invited to use their platform. So I guess they fill better the whole purpose of your company. Stripe was appealing to me (and a whole lot of other developers) because of the developer experience you introduced back th…

> no volume discounts

This is false. They have volume pricing breaks starting at 80k USD, 30k GBP, 30k EUR, etc processed. Check your country's pricing page.

US example: https://stripe.com/us/pricing

Re: Stripe Atlas

#208

Post by thesimon »

cperciva wrote: post #169
reitzensteinm wrote: post #64

Earlier quoted context omitted.

And that conversion is expensive . If I could have back the currency conversion margins PayPal has charged my businesses throughout my life, I'd easily be able to live for a year on that money. Well, 50 weeks, if it were sent to my PayPal account in US dollars :)

You can open a US bank account (I use Harris Bank, since they're owned by BMO) and withdraw USD from paypal to there. I then write a cheque to move USD across the border, and use VBCE to convert USD to CAD at market - 35 basis points (aka. about 2% better than what Paypal offers).

> I then write a cheque to move USD across the border, and use VBCE to convert USD to CAD at market - 35 basis points (aka. about 2% better than what Paypal offers).

Transferwise might be cheaper/easier

Re: Stripe Atlas

#209

Post by michaelschade »

sagivo wrote: post #178

they aim to help global community of entrepreneurs but it is tailored for the specific silicon-valley community. - c-corp only - investors in the valley work with it mostly. even though for MOST of the businesses s-corp or LLC will be better. - silicon valley bank - is very popular in the valley, but has limited support if you're outside as opposed to more popular banks. (transfer fees, integrations with other provid…

Yeah, you're right: C Corps won't be a perfect fit for every company, though we found they were the right starting place for the beta based on what what people are already doing. We're looking to add support for LLCs: https://stripe.com/atlas/faq#Can-Stripe-help-me-set-up-a-dif....

We've worked closely with Silicon Valley Bank to make the setup tenable for entrepreneurs in emerging markets. Making it easy to start a business from outside the US is the point of this program, and we're looking forward to making more improvements as we work closely with more entrepreneurs outside the US during the beta and continue expanding Atlas globally.

Thanks for the feedback! If you end up taking part in the beta, we'd love to hear more about how it works for you in practice.

Re: Stripe Atlas

#210

Post by kintamanimatt »

jimbunnay wrote: post #163

I'm a UK citizen, so I'm wondering if I do this, would I then be able to qualify for a visa to live and work in the US?

No, not directly. Briefly, your two best options probably include E-1 (treaty trader) and E-2 (treaty investor). Both come with their issues and restrictions, but they're a common path so long as you either have substantial trade between your home country and the US, or have a certain amount to invest in a US business (generally north of $200k, although this isn't technically a hard requirement).

Have a read through the notes to the relevant sections of 9 FAM.

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