Comment by hef19898
2 years ago
Ok, my one person start up had assets: My laptop, office gear, etc... Now imagine you have an office to pay. Or you are multiple people. Or you need some fancy hardware. All of that can be assets owned by the corp. And the exoebses, software etc..., can be paid of those 12.5/25 k as well.
This discussion proofs one point so, a GmbH shows that someone is serious about it.
Yeah but in the modern world you often don't have any of that except a laptop or two, and even they are often personal devices in a small start-up.
I founded a start-up with a friend and we had zero assets - just Office 365, AWS, managed office and personal devices.
But you do see why, geneally speaking, incorporating a business is necessary and required, do you? Because otherwise this discussion is kind of pointless.
Of course, but not why it needs 25k in reserves/assets.
In many other countries it's very cheap and simple. In the UK where we did it, it took half an hour, we did it online in an hour and we needed about £20 all-in to get incorporated and set up a business bank account.
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