I have been going through all these Delaware C Corp blogs, articles, video contents from experts (!) etc and hardly anyone cared to mention Form 5472 or Form 8865. You are a foreign founder, may have outside entities - go hire a lawyer to even know these exists (that's basically what renowned incorporator agencies suggest anyway). At this point I am not even sure even lawyers would deliberately mention about these requirements unless specifically asked. And here is every startup founder's good friend Caya, saving us from all the expensive mistakes.
Used Harvard Business Services to file for a C-Corp, use them as resident agents for the billing address, and they even expedited the whole EIN process with the IRS. For banking, I chose Mercury Bank and would put my hand over fire for them. Their dashboard is user-friendly, beautiful, and they pretty much have no fees for international transfers. You don't need to set foot in the US for it too. Whole process took me less than 2 weeks, give or take, and spent around US$700 total (includes company filing, yearly agent resident fee, incorporation documents, EIN process). Would have used Firstbase if I knew about it, but rather had to take the long route and use my law degree for once.
FYI, US tax only applies if your customers are from the US. US citizens are taxed globally. If all your profits come from outside the US, tax is applied where from the country you made the money.
Glad you enjoy it! Also, you were one of the first comments so you get an invite to Caya's office hours. Email our Community Manager, Páraic, and he will send you an invite. His email is paraic@slidebean.com
Grammar checks are always appreciated (especially when we can change them)! Also, you were one of the first comments so you get an invite to Caya's office hours. Email our Community Manager, Páraic, and he will send you an invite. His email is paraic@slidebean.com
Can you convert from an LLC with 5 total owners to a Delaware C Corp after collecting 1st seed round of investments? Would you advise to do so in advance and if so, in advance of the SAFE Note agreement with investor or just before the investor actually executes the fund transfer? Also, does the company lose its QSBS tax exemption status by converting down the road after already receiving raised funds?
Oh wow. I guess I’m missing a bunch of stuff then. Then again, We’re judt a 3-man show right now. And, we don’t have any plans of raising capital yet. I kinda want to avoid raising VC capital as much as we can. Something I’ve learned, especially in Silicon Valley, is once you raise VC capital, your priorities will start to change from building a sustainable business to getting that valuation as high as possible at whatever cost because the VC industry wants their little 2% fee from the money they gave you that they borrowed from someone else. It’s not really a bad thing. In my perspective, it just depends on what you want.
Very informative. Probably the best video on setting up the US, in fact, I don't think I've seen any other videos like this. Thanks Caya, a lot of good info presented in an relaxed style, all biz vids should be like this
Thank you so much! If a founder is from another country what kind of visa does he/she need in order to be able to stay and work in the USA? Are there any special requirements or laws for citizens of the European Union? I would be grateful for your advice.
Thank you for watching. Also, you were one of the first comments so you get an invite to Caya's office hours. Email our Community Manager, Páraic, and he will send you an invite. His email is paraic@slidebean.com
u guys changing thumbnails is too much, choose 1 and stick to it please............ great video though cauz I was also reading some of the rules under Product Hunt's Hyper investment arm on incorporating in the US
Just on the edge of the line - but I'll let you in. Email our Community Manager, Páraic, and he will send you an invite. His email is paraic@slidebean.com
How much it will cost every year (not including revenue) -- I want to know, it doesn't matter, if I am making profit or not, I have to pay this amount in total per year to run a company in US?
Third is just as good as first 😉 You get an invite to Caya's office hours. Email our Community Manager, Páraic, and he will send you an invite. His email is paraic@slidebean.com
You were one of the first comments so you get an invite to Caya's office hours. Email our Community Manager, Páraic, and he will send you an invite. His email is paraic@slidebean.com
