Comment by SkyAndSand
2 years ago
So basically you are a group of non US citizens living in the US and wanted to have a shared entity to do investments? Well I guess then a Delaware C Corp is the logical solution? Did you use Stripe Atlas to set it up?
Yes, right on the money. Though there's a slight natural difference for us to accommodate later participants. Yeah, we used Stripe Atlas, though none of the startups we run are through that. Overall, quite painless to be honest.
Awesome, thanks. May I ask why you went with the C Corp and not an LLC? Probably to make it easier for new investors?
Actually, I just checked our Stripe Atlas. Originally intended the C corp so we could bring people in but we were instead advised to just start a new LLC each time if we wanted and that we could have one LLC just be the owner of the other.
So I should correct this. We did end up with an LLC but the C corp would have worked just fine apparently.
Thanks for bringing that up. I'd forgotten.