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I wish there was a service like Atlas, but for Canada. I wasn't gung ho about incorporating a business abroad, as it introduces unnecessary complexity and cost
by jmstfv 6y ago
I wish there was a service like Atlas, but for Canada.
I wasn't gung ho about incorporating a business abroad, as it introduces unnecessary complexity and costs money in the early stages. But as someone who didn't have access to the modern financial infrastructure (to accept cards on the Internets), there weren't that many options available (and most of them involved traveling to foreign countries).
I use Tarsnap daily!
- MarkyC4 6y agohttps://www.ownr.co/ https://www.ownr.co/ (RBC) + Stripe might be close
- axyjo 6y agoTry founded.co! (I've seen good things about them; no affiliation otherwise)
- mamcx 6y agoYeah, the same. We have a SAAS product in Colombia and considering if is better to incorporate abroad, but wish to be in better than USA (mostly because the litigious nature of USA system).
- jmstfv 6y agoThere are other options like Singapore and Estonia, but the last time I checked, you had to travel there to open a bank account.
- def_true_false 6y agoIIRC Revolut Business is available in Estonia, so probably no need to travel.
- klausjensen 6y agoPlease do not rely exclusively on one of the new fintech "banks" as your only bank. It is a recipe for disaster. Revolut for business closed my account with very short warning and fucked up sending me my remaining balance. Lukcy for me, previous issues had meant I was loyal to the concept of having at least two banks at any given time, because one might crash/throw you out etc, so it didn't cause me too many problems. Now I have a boring, expensive local bank which is stuck in the 80s (but presumably safe) and Transferwise for all the online stuff.
- def_true_false 6y agoIt's not that I have a lot of trust in the challenger banks, more of the opposite -- I don't trust the old banks much more than I would trust Revolut. It's very easy to exit their (broken) state machine, e.g. if you use the eID card for 2FA login and it expires. The thing with Revolut, Transferwise, etc is they don't rely on having physical offices. I agree that it's always a good idea to have multiple accounts.
- krn 6y ago> Revolut for business closed my account with very short warning Could you share what was their reason for doing this? Any non-standard type of business or account activity?
- klausjensen 6y agoThere is very little to tell... Pure software development/consulting business for other business clients in EU countries. As clean as it comes, I think. I was never told what the problem was. This is standard operating procedure for banks, I am told. So I still have absolutely no clue what the problem was.
- nikon 6y agoMost Provinces require at least 1 Canadian (PR or Citizen) director.
- deleted 6y ago[deleted]
- rtsil 6y agoYeah. Incorporating abroad is easy, but remotely opening a bank account for the business is something that seems possible in the US only, AFAIK.