thisisrajat

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thisisrajat · 13d ago

Right! Apart from the VC angle, nothing makes sense, since there are couple of startups that let you open LLC from abroad.

thisisrajat · 13d ago

Yup, it's painful when you can do the same for a dime instead of paying dollars but it's the similar paradox: we'd have to understand a lot more things and get our hands dirty. Stripe is a business and they're not doing charity so it makes sense to earn from this transaction.

thisisrajat · 13d ago

Glad to be of help!

thisisrajat · 14d ago

Wow, that sounds really fantastic.

thisisrajat · 14d ago

Hey! We're just a tiny speck right now. Haha.

To answer your questions:

1. I don't know but they used to support LLCs for non-US residents. There are a couple of other startups like Firstbase, etc. which do allow LLC incorporation.

2. We didn't open a PayPal account yet, though I presume it'll be simple and straightforward.

3. Yet to complete our first year so I don't know much about the operating costs, but here's what I know: 21% federal income tax on profits, $300-$350 Delaware franchise tax, $100 registered agent.

4. Haven't taken a dime out of the business yet. We use the company debit card to pay for services, etc. In the near future when we do decide to hire ourselves, we'd use a service like Remote.com, Deel, Pilot.co etc.

I hope it's helpful.