The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

Where create a company ?

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

sK87a

PARKED
Mar 25, 2021
6
0
1
Hello,
I currently live in France.
Is it mandatory to have a company in the United State or UK or is it possible to make money in any country?
Regards,
 

Don't like ads? Remove them while supporting the forum. Subscribe.

sparechange

Platinum Contributor
Speedway Pass
Nov 11, 2016
2,805
4,293
1,020
Canada (Vancouver)
If you open a business in France you will end up in prison
 

sK87a

PARKED
Mar 25, 2021
6
0
1
You better tell us what you want to do otherwise we can't advise you
I'm still thinking about business ideas
I'm trying to find out if there is a need to have an LLC company or to open a business in a country like France

please answer with arguments and evidence
 

O_P

PARKED
Dec 6, 2020
1
0
2
Hello,
I currently live in France.
Is it mandatory to have a company in the United State or UK or is it possible to make money in any country?
Regards,
You can create a Company wherever you want but you need to study and think which Company type and location might be better for you.
If you live in France and you have a shop there or your clients are there then you should have your registered office in France.
If your business is totally on line (you sell services or digital products) then you might create your Company where the tax rate is lower. On the other hand, if you still live in France you will likely pay the Corporate taxes in a different Country and taxes on personal income in France for all the profits of your Company.
Creating a Company in a different Country should be a choice made for good reasons and after knowing all the tax rules that can be applied.
I would advice you to understand which kind of business you ar going to run firstly, and then to ask for a professional advice.
 

Devilery

Contributor
Feb 11, 2019
62
96
118
I'm still thinking about business ideas
I'm trying to find out if there is a need to have an LLC company or to open a business in a country like France

please answer with arguments and evidence
If you're still searching for ideas, you don't need an LLC. This varies per country, but there's a limit on how much you can make without having to pay taxes. I think it's usually $10,000 to $20,000 per year. So, if you haven't even started anything yet, just do it! Start something, make your first dollar and once you see a potential for consistent revenue, set up your company. You can open it generally in any country, but as you can imagine - every country will have its own rules, etc.

Sure, if you're buying construction equipment and hiring a team of workers, you need a company set up right from the start.

If you're looking to start any kind of online business, you better get some sales first!
 
Last edited:

Djioul

Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Apr 12, 2021
30
33
100
33
France
Hello,
I currently live in France.
Is it mandatory to have a company in the United State or UK or is it possible to make money in any country?
Regards,
Hi,

I don't really get your question... What do you exactly want to know ?

Having ideas does not mean anything... In which sector are you going to start your company ? Do you need to hire some people ? What turnover do you expect ? Do you need a location (shop, office...) ? What do you need to start getting your first customer ? There are some questions you have to ask youserlf.

And please do your homework, there is no excuse nowadays. Google will help you find some of the information you need. Just type "comment créer mon entreprise", "quel statut juridique choisir", "quel régime fiscal"... A specialized lawyer or accountant might help you as well.
Creating a company requires work preparation. I am doing it now since a few months because, yes, France is complicated as hell. That's also an advantage because it increases the motivation level needed to start a business (kind of an Entry selection).

If you did not do it yet, read one of MJ's books. Entrepreneurship is a true journey, not just waking up saying "I want to make money".
 

sK87a

PARKED
Mar 25, 2021
6
0
1
Hi,

I don't really get your question... What do you exactly want to know ?

Having ideas does not mean anything... In which sector are you going to start your company ? Do you need to hire some people ? What turnover do you expect ? Do you need a location (shop, office...) ? What do you need to start getting your first customer ? There are some questions you have to ask youserlf.

And please do your homework, there is no excuse nowadays. Google will help you find some of the information you need. Just type "comment créer mon entreprise", "quel statut juridique choisir", "quel régime fiscal"... A specialized lawyer or accountant might help you as well.
Creating a company requires work preparation. I am doing it now since a few months because, yes, France is complicated as hell. That's also an advantage because it increases the motivation level needed to start a business (kind of an Entry selection).

If you did not do it yet, read one of MJ's books. Entrepreneurship is a true journey, not just waking up saying "I want to make money".
thank you for your honest answer
 

peddletothemetal

Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Apr 5, 2021
23
26
24
Have been going through this brainstorming myself somewhat.

(Disclaimer: not a lawyer, this ain't advice)

Short answer: by default it's best to form a local company, but only after you've got a clear plan on what business you're going to run through it (to preclude action faking).

There's all kinds of reasons for this, but they all point to that. Plus if you can't afford the cost or manage the complication of setting one up it might indicate you're not ready to leave employment just yet.

If you operate as a sole proprietor it can sound simple, but there's all kinds of hidden nonsense out there you're not aware of, e.g. many clients think a company is more legit, some clients are afraid of contractor mischaracterization if you're providing ongoing services to them and a company adds one more layer against that, etc. Plus yes getting sued by an angry client does happen.

Setting up an overseas company without a clear and specific reason and professional help (and/or vigorous research) is a bad idea because of the layers of complication it adds. A rookie is most likely going to fail to comply with the many laws around it (e.g. CFC rules).
 

Sponsored Offers

  • Sticky
MARKETPLACE Fox Web School "Legend" Group Coaching Program 2021
@Fox It's same with me Did both quiz and application but as yet no automatic confirmation, just...
MARKETPLACE 7 Days To Freedom: From Wantrepreneur/Wage Slave To Freelancer
freelance is cool. but to own a business is like freedom. A newsletter I'm subscribed to gave...
Introducing MJ's Personal Unscripted Network, Join Now for FREE!
If you are in IDEA mode, text "IDEA" to the above number. If you are in LAUNCH/START mode, text...
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
I have a long weekend off work.. bought your "Start a Freelance Business: Take Back Your...
MARKETPLACE Not sure how to start? This free book will teach you how to build a successful web design business
If there’s one thread I see repeated over and over again on the forum, it goes like this: “I...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Thanks for clearing that up. What do you recommend for those who are still in the process of...



Forum Sponsor

Over 100 Fastlane Students
More Details...

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom