Company

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Summary

Eventually, we'll likely want to set up a legal entity in a country of our choosing, in order to be able to conduct business in the plain old business environment/bureaucracy set up by the world's nation states.

Both the general (shareholding etc.) concepts for founding this company, as well as their specific implementation are undecided at the moment, and need some research first. Please add your notes, whenever you find yourself doing a little bit of that research or stumbling upon any facts that might be useful here!

Shareholding

Needs

  • Everybody has different levels of time to invest and continuous commitment they can offer. Shareholding should be flexible to accommodate that, both in the beginning as well as continuously later on.
  • If possible, it'd be nice to be able to give (esp. early) outside contributors a part of the potential success as well. Possibly through crypto tokens, redeemable as stock options e.g.
  • Whatever we come up with should be rather simple and understandable by everyone. If it's not possible for everyone to understand the agreement itself or its technical implementation (concept), then that must be considered a failure.
  • Funding schemes will obviously influence this topic as well

Technical implementation

Notes

  • Signing contracts
    • Multi-signature transaction (OP-NOP) with hash of document content, signed with everyone's private key
    • Various options for enforcement / making sure a signing key is actually that person

Legal implementation

Jurisdiction

There are many nations in the world, but we'll have to choose at least one initially. Let's collect some notes on options.

Countries

Country TLD Corp tax Currency Notes
Isle of Man .im 0% IMP/GBP
  • Favorable to crypto currency businesses, although local banks seem to have cut ties to Bitcoin startups
  • Home to many online gambling sites
  • Crown dependency, tied to the UK
  • Regarded as UK in terms of VAT (applicable in EU, 20%)
New Zealand .nz 28% NZD
  • Constant number 2 or 3 on the ease of doing business index
  • Kiwis, mountains, beaches!
Estonia .ee 21% (0% on fgn.) EUR
Dominica .dm 0% XCD
  • ICB (off-shore) companies enjoy a ton of benefits
  • Shares can be issued in "any currency"
  • No annual meetings required
  • "There is no requirement to prepare or to file any accounts or financial statements."
  • Strong privacy laws (criminal offense to leak company/shareholder information)
  • Hacker Beach #3! :)

Notes

Random Notes

Other OSS companies (role models to varying degrees or not)