When should you incorporate your company?

No matter what type of company you own, incorporating is an important step to protecting your business and yourself. Andrew from Nomad Capitalist answers the question "When should I incorporate my company?" from the perspective of liability, logistics, and taxes.

There are important factors that new entrepreneurs often don't even think about, but can cost a LOT of money later!

DISCLAIMER: Andrew is a party school drop-out, not an attorney, so seek proper legal advice before taking action.

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ABOUT NOMAD CAPITALIST

Andrew Henderson travels to nearly 30 countries every year to stay up to date on the latest legal strategies for entrepreneurs and investors to pay less tax, grow their money faster, and build their personal freedom.

Andrew started Nomad Capitalist to help people like you follow his five magic words: "go where you're treated best". He has personally started foreign companies, opened offshore bank accounts, and obtained multiple second passports.

He also learned the hard way that perpetual information seeking is often the biggest barrier to getting the results you want. Many entrepreneurs spend months and even years constantly researching how to pay less in tax or live overseas, but are afraid to make the jump.

As a result, they get stuck and keep paying a fortune in taxes and never get the lifestyle they deserve.

Nomad Capitalist's Youtube channel is based on Andrew's vision that focusing on the end result, rather than the latest shiny object, is the best way to actually obtain the benefits of the Nomad Capitalist lifestyle.

[mckt]

"DISCLAIMER: Andrew is a party school drop-out, not an attorney" That's witty. :) Love your videos!

[ViolaAndJan]

'If you are optimistic ...' like anyone isn't optimistic in the honeymoon phase. Statistically speaking, your next business is going to fail. Your business afterwards too. The one afterwards as well. Look at the numbers. That's fine. Keep trying and learn. But do not waste time and money on incorporation while you still work on a proof of concept. There are some exceptions for certain types of businesses (eg. Biotech, hedge funds etc). But this is foolish advice. I'm speaking from own experience and working with plenty of startups in the valley and Europe. And what's that nonsense about offshore incorporation? As a founder you shouldn't waste any attention and time on offshoring. Your attention should be on achieving product market fit and growth and not on saving some tax down the line if you make it against the odds. Foolish mistakes. You want to make this 'your thing' and be the offshore guy but this is not helping. Incorporation is easy. It's a technicality. Anyone who can read can do it. You should pay someone to do it for you once you have a proof of concept. Why don't you talk about things that actually matter and are tough? Like product strategy? You can't outsource product market fit.