I have been working on a startup idea with some former colleagues who live in the US. I have also been made redundant from my job here in Ireland. We want to move the startup idea forward by formalising a business around it. I will be seeking support through the Back to Work Enterprise Allowance. If approved, I will receive a weekly allowance from the state and I can avail of other programmes, grants and mentoring programs, which is very valuable to me.
I am completely new to setting up a business here - so I need to be sure that I am doing this correctly and with the best interests of my partners and the business as a priority. The "offshore" aspects of the arrangement make it a little bewildering. I don't want to seek support at home without knowing what I should be looking for and why. So what I need to know is how best to incorporate the arrangements we share today to facilitate my interests here....whilst not jeopardising my partner's interests in the US.. but still remaining a single "entity" for us all. Obviously, this has required significant investment to get to where we are and it will take further significant investment to get to market. Therefore, we would like to avail of as much support as possible to make it happen.
In terms of our maturity as a startup, we have a prototype product developed & hosted in the US under a "single member LLC" owned by my one of my partners. Our next steps will be to seek funding (this could be from the US or EU) and to hopefully land the first of a million customers! So this is now getting quite "real" for us all. We are all willing to do what is most sensible to make this successful.
Does anybody have any advice as to how bet to approach this from either / both sides of the pond? Should we sub-divide the company's interests? Should we incorporate separately? What should our objectives be to maximise our potential across both jurisdictions? Are there good sites or company's that can give us the best advice?
Thanks in advance for your time.
I am completely new to setting up a business here - so I need to be sure that I am doing this correctly and with the best interests of my partners and the business as a priority. The "offshore" aspects of the arrangement make it a little bewildering. I don't want to seek support at home without knowing what I should be looking for and why. So what I need to know is how best to incorporate the arrangements we share today to facilitate my interests here....whilst not jeopardising my partner's interests in the US.. but still remaining a single "entity" for us all. Obviously, this has required significant investment to get to where we are and it will take further significant investment to get to market. Therefore, we would like to avail of as much support as possible to make it happen.
In terms of our maturity as a startup, we have a prototype product developed & hosted in the US under a "single member LLC" owned by my one of my partners. Our next steps will be to seek funding (this could be from the US or EU) and to hopefully land the first of a million customers! So this is now getting quite "real" for us all. We are all willing to do what is most sensible to make this successful.
Does anybody have any advice as to how bet to approach this from either / both sides of the pond? Should we sub-divide the company's interests? Should we incorporate separately? What should our objectives be to maximise our potential across both jurisdictions? Are there good sites or company's that can give us the best advice?
Thanks in advance for your time.