CEO and co-founder of Reveal Mikhail Trofimov shared the experience of remote opening of a company in the United States. In the summer of 2015 before you create a Reveal, we have developed a product for Stripe payment system. But as Stripe is not supported in Russia, we had to choose an alternative country to open a new company.
Initially, America seemed expensive and complicated option, so we looked at Singapore, Estonia, with its e-citizenship, the UK and other countries. But in the end it turned out that to open a company in the United States easier, cheaper and far more lucrative for startups than anywhere else. The whole check took us about two weeks and we spent about $300.
And of course, having a company in the US, you can easily enroll in an American accelerator and to communicate with any investor. For us the fact of having a company in the US opened up many doors and to feel in the negotiations. To connect a payment system and start making money, enough to make three steps:
We have opened a company in Delaware, form C-Corporation. This is the most common state and is the most common form of activity for a startup. Why. The laws of the state of Delaware is very convenient for startups and investors, and C-Corp allows you to divide your company into several million shares.
This option is suitable for attracting investment and distribution options to employees. And of course, if you are going on an IPO, you should also have a Corporation. More on this can be read here.
To open a C-Corp in Delaware, dont need passport details and personal presence. You just need to fill out a form on one of the online services and pay. We discovered the company through a Delaware Registered Agent service. Also recommend Legalzoom and Delawareinc, but generally companies with such services hundreds upon request “delaware corporation”.
Also there is a service from Y Combinator, Clerky. He sharpened specifically for startups, and it has already properly configured the templates to open a company and all subsequent documents.
First, you need to select the name of the company that is not occupied. You can check this here. The name of the Corporation typically ends in Inc. Or Corporation.
The number of authorized shares — number of shares your company. Y Combinator and other lawyers, specializing in start-UPS, it is recommended to divide the company by 10 million shares. Value of one share. It is very important to specify $0.00001 per share, if you produce 10 million shares.
That is, the total value of your company is equal to $100. This way you will save yourself from huge taxes of the state of Delaware, which is calculated based on the value of the companys shares. Mandatory service when you open a company in Delaware.
It is paid automatically when you open the company for 1 year and must be paid annually. In fact, he plays the role of mediator between the state and your company. Your mailing address. We used the service virtualpostmail.com for registration mailing address in the state of California.
There come letters, they scan them and it costs only $10 per month. Fill out the form, pay and within a couple weeks you will have certificate on establishing of the Corporation in the state of Delaware. EIN can be obtained by filling out the online form, but only those who have a SSN.
The citizens of Russia dont have their number, so you need to fill out a form SS-4, send it by Fax or call in the us the tax on the phone. For phone you can use the free Google Hangouts using an American VPN. More information here. I attach a small manual for completing this form.
With the Bank all the more difficult. To open a us Bank account in most cases must be present.
In essence, this means that in order to open an account and start accepting money you have to spend on trip to USA. However, as with any rule there are some exceptions. Silicon Valley Bank — as far as I know, this is the only Bank that allows you to open an account remotely. However, they have a prerequisite.
The company must be invested by the accredited investor. It is a vicious circle. To find an investor, you need to show the revenue, and to open an account and show a profit, you need to find an investor. Stripe Atlas — excellent service from the Stripe, which will help to open a Delaware C-Corp, the account of SVB and help with documents.
However, there is quite a strict selection and not all will succeed in getting. If you participate in events from Y Combinator, there is often the bargain give access to Atlas Stripe. For example, we gave it when we went into the last set of Startup School. A few days ago, Stripe has launched the Atlas on Product Hunt and announced that all who pass by reference, get into the program Atlas Stripe out of turn.
Payoneer is the easiest and most reliable way to get an American Bank account. Register an email is sent a plastic card and in your account you find details that can be stored in Stripe. This account would not formally score your American company, so this option is only suitable as a temporary solution. New customers, save up for a ticket to USA and open a normal Bank account.
Be incorporated is the easiest stage on the road documentary work for a startup. Once you have created a company and got its first customers and decided to attract investments, youll need the so-called Post-Incorporation Setup. And there include:
Often these documents need individual approach, so be prepared to pay about $1000 for this package of documents is a qualified us lawyer. But this makes sense only when you are ready to recruit a full round of investment. Send a private cases, in which you managed to improve (or, conversely, worsen) the performance of the project, [email protected] Interesting experiments are sure to get heading Growth Hacks.