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Hungary, and setting up a limited company starts at ~$10k here. Indeed, UK is one of the options I'm looking at[1]. Compared to the alternatives I checked (e.g
by a_imho 6y ago
Hungary, and setting up a limited company starts at ~$10k here.
Indeed, UK is one of the options I'm looking at[1]. Compared to the alternatives I checked (e.g Estonia) it seems too good to be true, so I'm a little worried about hidden costs of running a business there, especially as a non resident.
Stripe Atlas starts at $500, but then you have franchise tax added on top of that and it quickly adds up if you need an accountant not to miss a tax filing (even though the cloud credits sound nice). For launching a funproject which will probably never generate that kind of money I can't justify the outlay.
[1]https://medium.com/@trevormydata/week-2-incorporating-a-company-in-the-uk-cost-me-15-what-s-the-catch-4a7aa954fd6c https://medium.com/@trevormydata/week-2-incorporating-a-comp...
- mytailorisrich 6y agoI am in the UK and I can confirm that the article you quote is accurate. You can manage the company (annual accounts return, tax return) online. Two things, though, if you are not residing in the UK: 1. The company must have a registered office address in the UK. There are plenty of companies providing that service for an annual fee (usually about £30 per year but, obviously, extra fees to forward mail). 2. It may be difficult to open a bank account either in the UK or in Hungary. But to be honest, if you don't expect to generate even in the range of $500 then incorporating will likely be too costly however you look at it.