The YC Fellowship and Stripe Atlas | Hacker News Reader

The YC Fellowship and Stripe Atlas

blog.ycombinator.com

79 pointshepha197913 comments

How many people will use this just to exchange $500 for $15,000 AWS credit?

raises hand

doesnt hurt neither - i created bank accounts for less than that ;)

You'll have to invest into learning a few legal things, one of them being how to liquidate a corporation. For instance how much does it cost to wind up ?

$10.

http://www.corp.delaware.gov/Dissolution%20-%20274%20BIS%20S...

So exchange $510 for $15,000 in AWS credits. I wonder if the credits go away, or if they would even know.

As a founder of a company which started in Amsterdam, The Netherlands and joined Techstars NYC, I absolutely love what they are doing. The initial setup of the entity, the bank account, all the paperwork was a major distraction. It needs to be simplified and this looks like a step in the right direction. SVB was by far the easiest and most supportive option for getting your bank account setup when you're not (yet) in the US. Awesome initiative, great news for startups around the world.

Stripe if you're reading this, it would be great if you would make it possible to migrate Stripe accounts from one country to another. You're still charging me BTW (Dutch VAT) while our entity is actually in the US.

Glad you're excited about this! We are too.

Being able to move Stripe accounts between countries more effortlessly would make a lot of sense. There are a couple technical aspects we have to think through, but I'd like to see more support for it myself. In the meantime, maybe we can do something faster to help out with your current setup -- want to drop me a line at michael@stripe.com with more details? (Would love to hear any other feedback you have too!)

It surely can't be that bad?

Is it not possible to do this all online? In the UK it took a day and 15 or so pounds to set up a company, got the official company documents the next day. It's also possible to get it the same day with a bit more money. Took a visit to the Branch but had the business bank account within the week in addition to the Stripe account activated within 5 minutes.

Setting up a company in the UK - sure. Opening a business bank account when you're not a resident - nowhere nearly as easy.

If you use UKTI to help you, especially if you're a fintech startup, they'll help you through that.

Are the founders (of one of these Strip Atlas-started companies) required to not be US citizens?

Nope, we don't have any requirements like that in place. That said, the Atlas beta is focused on companies based in emerging markets; so it's more conducive to someone who doesn't currently live in the US, regardless of if they're a US citizen, for example.

Reply on news.ycombinator.com