Mostly horrible for tech start ups because the ability to raise capital in those countries is very poor. Some of these also have really weak tech talent for instance Georgia. Then you've got say great talent markets in places like Russia but you're exposed to Russian laws and have horrible banking so that's not good. Malaysia is the one country in there that's ok, you can raise capital in the Singapore markets but Singapore is still much more clean. Note the places you're mentioning can be good for hiring people in some cases and some can be good for you personally in terms of tax but for forming a company for a tech startup those are almost all bad due to poor capital markets, poor financial infrastructure, etc It does vary a bit based on the type of business though. This all changes if you're not going to raise capital.
A lot of Malaysian startups started from Malaysia and moved to Singapore for capital at a later stage, Grab is one of the more prominent examples. They started out as MyTeksi in Malaysia.
is Hong Kong really that risky? i heard one economist saying China will make sure HK is a great place to do business to be successful in replacing the US dollar as the global reserve currency.
I don't consider HK risky from a "you will lose money" standpoint. The risk for me is more about say American companies and other countries restricting doing business with you. Look at what happened to Tik Toc and Huawei as examples. It's just not that globally strategic a location anymore
We're building similar mobile app like TikToc as our startup and will go for private investing round later(seed fund already👍). From tax point, is Dubai or UAE good choice for offshore company formation? 4 of us in 4 different cities around the world not willing to relocate atm. I'm based out of Dhaka. After formation, which country jurisdiction would be ideal and easy to open bank account for this offshore internet startup?
Not a very busy friendly country and doesn't have strong capital markets. I think it's great if you're an online entrepreneur looking for a place to move and can use the NHR program especially if you want to eventually get a Schengen passport.
Great vid! I have a few questions. There is Wyoming, but I am not sure if you can run a it tax free initially when you’re just starting out, if your clients (SaaS subscription service) is targeting US clients. What are the downsides of Wyoming ? And how important is to have a US business bank account? I know that Stripe Atlas offers one with incorporation in Delaware, which seems to be tempting. Also as a non-American I am a bit scared of incorporating US company, because of horror stories of complicated tax system.
This really depends a lot on the nature of your business and your goals. This video I'm speaking largely from the lens of if you're going to be raising money and going to the capital markets. If that's not your situation then there are other things worth considering. If you're selling to US clients via credit card you'll face higher decline rates if you're not processing through the US but this can carry certain complications. If you've got specific questions definitely reach out to us www.clarity.fm/michaelrosmer and we can work through what specifically will be best for you.
I’m talking about B2C tech startup fully internet based marketplace ( no tangible products involved) and willing to accept both fiat and crypto. Will UAE be better jurisdiction to incorporate? Business activity( marketing and users onboard)will initiate in UK/US/Canada. And what about the banking? NB. I’ve a friends friend from Belarus recently founded a similar tech startup in Turkey both company formation and banking including hiring local talents designed for European consumer market penetration. Can you shed some light on Turkey as well?
Generally Turkey is a poor place to form a company especially a tech company. Might be good for hiring, depending on the talent you're looking for. UAE is improving as a destination for tech companies but it depends where you're from, details of the business, etc. It tends not to be a great place to hire or relocate people to.
@@OffshoreCitizen yes of course , multiple reasons == more content playtime == more ad $$$ :) . just kidding although it was long winded but definitely had some value . keep it up !
A study of Swedish startups found Swedish Engineers could always jump back to jobs so starting a company was low risk.
Yes similar in Denmark I believe but I wouldn't start the businesses in either place
Thoughts on: Georgia, Czech Republic, Indonesia, The Philiphines, Serbia, Russia, Kazakhstan, Uruguay, Colombia, Panama, Malaysia, Thailand?
Mostly horrible for tech start ups because the ability to raise capital in those countries is very poor. Some of these also have really weak tech talent for instance Georgia.
Then you've got say great talent markets in places like Russia but you're exposed to Russian laws and have horrible banking so that's not good.
Malaysia is the one country in there that's ok, you can raise capital in the Singapore markets but Singapore is still much more clean.
Note the places you're mentioning can be good for hiring people in some cases and some can be good for you personally in terms of tax but for forming a company for a tech startup those are almost all bad due to poor capital markets, poor financial infrastructure, etc
It does vary a bit based on the type of business though.
This all changes if you're not going to raise capital.
A lot of Malaysian startups started from Malaysia and moved to Singapore for capital at a later stage, Grab is one of the more prominent examples. They started out as MyTeksi in Malaysia.
@@joethong726 yes that's definitely a common path.
Very useful video, thanks for sharing this !
I was wondering...what about New Zealand/Australia ?
Where exactly is silicon Valley? Which city?
is Hong Kong really that risky? i heard one economist saying China will make sure HK is a great place to do business to be successful in replacing the US dollar as the global reserve currency.
I don't consider HK risky from a "you will lose money" standpoint.
The risk for me is more about say American companies and other countries restricting doing business with you. Look at what happened to Tik Toc and Huawei as examples. It's just not that globally strategic a location anymore
We're building similar mobile app like TikToc as our startup and will go for private investing round later(seed fund already👍). From tax point, is Dubai or UAE good choice for offshore company formation? 4 of us in 4 different cities around the world not willing to relocate atm. I'm based out of Dhaka. After formation, which country jurisdiction would be ideal and easy to open bank account for this offshore internet startup?
Complex multi variable question you should book a call to discuss and we can go over the details
Thoughts on Portugal?
Not a very busy friendly country and doesn't have strong capital markets.
I think it's great if you're an online entrepreneur looking for a place to move and can use the NHR program especially if you want to eventually get a Schengen passport.
Great vid! I have a few questions.
There is Wyoming, but I am not sure if you can run a it tax free initially when you’re just starting out, if your clients (SaaS subscription service) is targeting US clients.
What are the downsides of Wyoming ? And how important is to have a US business bank account? I know that Stripe Atlas offers one with incorporation in Delaware, which seems to be tempting.
Also as a non-American I am a bit scared of incorporating US company, because of horror stories of complicated tax system.
This really depends a lot on the nature of your business and your goals.
This video I'm speaking largely from the lens of if you're going to be raising money and going to the capital markets. If that's not your situation then there are other things worth considering.
If you're selling to US clients via credit card you'll face higher decline rates if you're not processing through the US but this can carry certain complications.
If you've got specific questions definitely reach out to us www.clarity.fm/michaelrosmer and we can work through what specifically will be best for you.
How about Dubai ?
Dubai is great but for a tech start up I'm not such a big fan because the capital markets aren't that great and financial infrastructure isn't as rich
I’m talking about B2C tech startup fully internet based marketplace ( no tangible products involved) and willing to accept both fiat and crypto. Will UAE be better jurisdiction to incorporate? Business activity( marketing and users onboard)will initiate in UK/US/Canada. And what about the banking? NB. I’ve a friends friend from Belarus recently founded a similar tech startup in Turkey both company formation and banking including hiring local talents designed for European consumer market penetration. Can you shed some light on Turkey as well?
Generally Turkey is a poor place to form a company especially a tech company. Might be good for hiring, depending on the talent you're looking for.
UAE is improving as a destination for tech companies but it depends where you're from, details of the business, etc. It tends not to be a great place to hire or relocate people to.
What about berlin !?
What about Argentina? Great talent there.
For hiring sure as a place to start a company horrible!
Argentinian here
Is funny, I'm literally just watching this video cause I wanna scape from my country in a future
Answer at 12:00 ( Singapore ) damn what a long winded answer
Reasons often matter as much or more than the answer itself
@@OffshoreCitizen yes of course , multiple reasons == more content playtime == more ad $$$ :) . just kidding although it was long winded but definitely had some value . keep it up !
How about India?
Nicaragua
Why would you say that?
🤙🏽