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> France also has a very low entry barrier for forming an LLC In what places is this difficult? It's essentially trivial in the US.
by mhb 4y ago
> France also has a very low entry barrier for forming an LLC
In what places is this difficult? It's essentially trivial in the US.
- moffkalast 4y agoMost of Europe requires you to put up several thousand in starting capital for an LLC equivalent entity. 7.5k for where I live, and Germany would be highest I think at over 12k. It's an extreme barrier for entry to say the least. Not sure what the requirements are for a non-profit though, but I assume it's the same with just a different tax classification.
- batmansmk 4y ago1 euro in France.
- probably_wrong 4y agoIf you want to have whatever the opposite of fun is, try to find information about how to form a startup in Germany. Bonus point if you can explain why you may want (or not) a mini GmbH. See also: https://richventures.com/posts/how-i-would-start-my-next-startup-in-germany-without-a-gmbh https://richventures.com/posts/how-i-would-start-my-next-sta...
- batmansmk 4y agoCreated 2 companies in US, 3 in France - in US forming an LLC is not sufficient for you to be compliant and do business. You need statuses, a bank account, cap table, proof of capital deposit, registration in your state, city, a healthcare and dental provider, 401k, worker's compensation, payroll provider, insurance, accountant / attorney. In France, I do it alone, in 1 afternoon. 184 euros filing fee. A couple of online forms. I can fill my sales tax declaration, and payroll when it's just me and partners. Healthcare, worker's compensation are built in the tax system, so declaring your revenue is sufficient to get all of that. My professional bank offer includes a basic insurance that is sufficient to rent and run the business. I find it way more fluid in France.
- bilbo0s 4y agoThis. I would not call creating an llc to do business in the US ‘trivial’. At least not if you plan to be legally compliant with all the relevant regulations. Never started one in France, so I can’t speak to that, but doing business in the US is much more than just forming an llc.
- mhb 4y agoI would not call creating an llc to do business in the US ‘trivial’. Perhaps, but that addresses an issue about which this thread isn't.
- CamperBob2 4y agoYou need statuses, a bank account, cap table, proof of capital deposit, registration in your state, city, a healthcare and dental provider, 401k, worker's compensation, payroll provider, insurance, accountant / attorney. What? You don't need ANY of those things in the US. One-person LLCs are practically ubiquitous. You just submit a one-page form to your state and send in a nominal filing fee. Depending on how you do business and how many employees you have besides yourself, you may need to deal with the rest of that list, but they are absolutely not prerequisites.
- rozenmd 4y agoActually I'm looking to do this for my French business - do you use a service? or just using the urssaf site?