4 ms·

How’s the initial business formation process compared to Clerky?

jmstfv 6y ago
With Atlas, I filed a form and received an email with docs (to sign) a few days later. I got my Certificate of Incorporation and a bank account (got blocked, but that's a different story) the same day I signed docs. Then, they invite you to issue the stock via the web form, and that concludes the process on their end. The only hiccup was with receiving an EIN confirmation later, so I had to call IRS so they could fax it to the third-party designee. Haven't used Clerky, but the biggest perks with Atlas are a bank account (which is generally a pain to open for non-residents) and $5k AWS credits.
- sah2ed 6y ago
  > I got my Certificate of Incorporation and a bank account (got blocked, but that's a different story) ... Would appreciate the story if you shared it, we are still in a pandemic :)
  - jmstfv 6y ago
    Shortly, the Silicon Valley Bank blocked my account access because their telephony service couldn't reach my foreign number via SMS/Phone call 5 times in a row. Had to make several calls to unblock my account. You'd think that a bank that claims to "work with the brightest minds in technology" would have a better 2FA mechanism than a phone number...
- thiscatis 6y ago
  You can get a Revolut USD account with no hassle that supports local ACH transfers and 100.000 usd in AWS credits with a compelling startup story. Stripe atlas has become obsolete already if these are your needs.
  - jmstfv 6y ago
    https://www.revolut.com/en-US/help/profile-plan/verifying-identity/what-countries-are-supported https://www.revolut.com/en-US/help/profile-plan/verifying-id... > We are currently only supporting legal residents of the European Economic Area (EEA), Australia, Canada, Singapore, Switzerland, Japan and the United States The problem is that if you're not from the "right country", you're pretty much locked out from the finanical infrastructure needed to process payments on the Internets. I wasn't that gung ho about incorporating a business abroad but didn't have much choice.

With Atlas, I filed a form and received an email with docs (to sign) a few days later. I got my Certificate of Incorporation and a bank account (got blocked, but that's a different story) the same day I signed docs. Then, they invite you to issue the stock via the web form, and that concludes the process on their end. The only hiccup was with receiving an EIN confirmation later, so I had to call IRS so they could fax it to the third-party designee. Haven't used Clerky, but the biggest perks with Atlas are a bank account (which is generally a pain to open for non-residents) and $5k AWS credits.

sah2ed 6y ago
> I got my Certificate of Incorporation and a bank account (got blocked, but that's a different story) ... Would appreciate the story if you shared it, we are still in a pandemic :)
- jmstfv 6y ago
  Shortly, the Silicon Valley Bank blocked my account access because their telephony service couldn't reach my foreign number via SMS/Phone call 5 times in a row. Had to make several calls to unblock my account. You'd think that a bank that claims to "work with the brightest minds in technology" would have a better 2FA mechanism than a phone number...
thiscatis 6y ago
You can get a Revolut USD account with no hassle that supports local ACH transfers and 100.000 usd in AWS credits with a compelling startup story. Stripe atlas has become obsolete already if these are your needs.
- jmstfv 6y ago
  https://www.revolut.com/en-US/help/profile-plan/verifying-identity/what-countries-are-supported https://www.revolut.com/en-US/help/profile-plan/verifying-id... > We are currently only supporting legal residents of the European Economic Area (EEA), Australia, Canada, Singapore, Switzerland, Japan and the United States The problem is that if you're not from the "right country", you're pretty much locked out from the finanical infrastructure needed to process payments on the Internets. I wasn't that gung ho about incorporating a business abroad but didn't have much choice.