I'm curious how much of a thought did you put into where to incorporate your company and what were the factors that played into that decision.
Did you consider access to capital, taxes, favorable jurisdictions to bitcoin or something else?
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depends on what you do and where you are in ( ideally you don't register company in where you live, especially if it's online )
to give you an example, I registered in WY for online stuff, it works like a charm:
I'm guessing you are talking about WY LLC in this particular instance
Can you elaborate about the first point to make it clearer for people reading this - i'm bot sure its always clear to people that they dont need to incorporate in their local country
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People want to overthink this issue but its usually just procrastination or contrarianism for the sake of it.
In reality there are very few cases where you'd actually want to bother incorporating and simultaneously not just do that in Delaware, especially as a Bitcoin company.
thats a very US centric view of the world, its not necessarily the panacea for everything specially if you're not a citizen/resident
It's the realistic view of the world
Foreign co's looking for a level playing field and access to the largest capital market in the world incorporate in Delaware, because it's what's best for business and nothing more.
I think that founders can "diversify" risk across several jurisdictions instead of just one, because Governments by nature are unstable and can change laws according to their wishes
How would you diversify risk across several jurisdictions, the parent company is still tied to one specific jurisdiction?
Of course you can have subsidiaries in jurisdictions favorable to for example bitcoin and do all your handling of bitcoin there but that is a lot of overhead for a early stage company
Parent company and subsidiaries
Yes, I agree with you on this part. With this, founders can choose a good jurisdiction and later, when they are large companies, open subsidiaries or controlling companies in friendly jurisdictions.
my feeling is (also the reason why i posted this question) is that we as an industry are not optimizing enough for jurisdictional arbitrage, while at the same time its a huge mental burden to also figure out all of this while also trying to build a company/product
That's point.
In the event I would need to start a company, this would be a very important aspect I would put on the table.
But how much weight would you put on that specific one? For example El Salvador might be great if you are optimising for this alone but ease of doing business there is probably far from great
That would depend on the type of business. Perhaps between 15% to 25% percent of the total weight.
Not yet launched or 'founded' a product, but for me registering a business here in Uruguay 🇺🇾 is an easy decision for the simple fact that they:
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I put hardly any thought into it. When I incorporated, I wasn't sure if the corporation would exist a year out so I did what was standard for US-based companies.
Even with hindsight I'm not sure where the right place would be for something like SN. Considering how aloof counterparties might fuck me is one of my least favorite things to think about. When I have the option, I prefer to remove them from the equation.
Romania and Estonia are fairly cheap EU options. Also Poland, Bulgaria, Malta, Georgia can be relevant.
Yes, we carefully weighed factors like access to capital, tax implications, and favorable jurisdictions for cryptocurrency.