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Why did you set up a software development shop in the BVI, are the problems they are solving specific to the BVI? I'm asking because I'm considering starting a
by reledi 15y ago
Why did you set up a software development shop in the BVI, are the problems they are solving specific to the BVI?
I'm asking because I'm considering starting a startup on a Caribbean island that I'm originally from. If you have any advice you'd like to offer, I'd be glad to read it.
- MortenK 15y agoI only had the company incorporated in the BVI. We had a small sales office in London, and I was personally living in Russia at that time. The reason I setup in BVI, was because it was reasonably easy, and because no annual reporting of accounts is neccessary (no more "accounting preparation panic" every year). So our customers were not in the BVI, rather they were spread out over Europe. If you have the option of living and starting a startup on a Carribean island, what's holding you back? :-)
- deleted 15y ago[deleted]
- reledi 15y ago> what's holding you back? :-) My biggest worry is recruiting. Paraphrasing Valve, I want hires who are not only talented or collaborative but also capable of literally running the company, because they will be. I don't want to lower the hiring bar because of my location. I would probably have a recruiting strategy similar to TropicalMBA.com. Recruit via internships and offer them the chance to solve challenging problems in paradise.
- MortenK 15y agoRecruiting can be a problem in these kinds of destinations, and so can employee retention. It will probably be hard if you need access to a large talent pool of highly talented and self directing people.