Co-Founders in multiple countries
I am working on an idea With friends across the continent, and we would like to go into development together and build the market in both the countries at the same time.Currently and in the immediate future, we are not expecting to hire any employees.
Co-founders also work as respective countries marketing, sales, support...
Q: How do you write agreements, form partnership structures, split the revenues, book taxes.. Etc., in similar setup's.
please include your real experiences only.
Co-founders are in California (US), and in Australia.
1 Answer
You need to pick one country as the headquarters. Think about the future. California would definitely make sense. Incorporate there and have the Australia co-founder as a shareholder. You're set.
If you also expect to have significant income from Australia, then you may have to setup another company there. You could have it owned 100% by the California corporation (to it's a subsidiary). It's a bit more expensive to have two companies, so if possible, operate with one only until this gets bigger.
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Thanks Alain, in that case I assume you pay the Australian partner on a 1099 or something of a contractual agreement, Am I totally wrong. – Shree Mandadi 13 years ago
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On another route, I am using your Foundrs, currently to establish an initial partnership, until we see significant revenue. – Shree Mandadi 13 years ago
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Yes, a 1099 would work just fine. Do check with an accountant for both countries of course. – Alain Raynaud 13 years ago
