5 ms·
You don’t really need to register an llc or do any of that for your projects that are not big.
by soared 5y ago
You don’t really need to register an llc or do any of that for your projects that are not big.
- ushakov 5y agohow do you legally accept money then? clarification: i'm in EU
- benmmurphy 5y agoIf your turnover is low enough you don’t need to be VAT registered in the UK. Also, in the UK you can be VAT registered and be a sole trader.
- ushakov 5y agodo you think as a foreign citizen i'd be able to setup a UK Limited? i'm familiar with Companies House though
- marci 5y agoAre you in the EU or the UK?
- rosndo 5y agoIf you’re not on any sanctions lists there shouldn’t be any issues. Your residency/citizenship does not play any part in forming a UK LTD. It might affect your ability to open an account with some banks though. These guys are okay https://www.99pcompanyformations.co.uk/ https://www.99pcompanyformations.co.uk/ The whole process takes a few minutes and costs almost nothing.
- cbushko 5y agoI think you just take the cash using Stripe or whatever. It gets deposited in your bank account and you claim income tax on it.
- ushakov 5y agoi don't want liability
- chinathrow 5y agoWhat are you talking about? You make revenue, you disclose the revenue, you file taxes. Doesn't matter if you do it as a private person or as an LLC. You can incorporate to reduce liability easily, it does not cost a lot of money in most jurisdictions.
- gnopgnip 5y agoYou have personal liability either way if you are the one writing the code, marketing to customers, etc.
- spiffytech 5y agoIn the US, anyone can sell good or services and do business without formally registering as a business. You're automatically classified as a sole proprietorship, with your legal name as the business name. But there's no liability protection, since you and the business are the same legal entity. That's where LLC or incorporating comes in, along with lots of other reasons to want to formalize the business as a legal entity.