I'm asking because I'm considering doing the same (I'm from Amsterdam).
This is what think:
1. Don't worry about VISA until you get accepted, it will take too much time
2. To get the right VISA is hard, lawyers will tell you what the law say, not necessary what is the right thing to do in the situation
3. Don't be too honest at the border control. I had a friend once who where touring with their band in US, at the border the asked if they where going to work in the US? (I.e get paid) and they were honest and said yes, the border threw them out. As long as you are not earning money in the US, you're best off by saying you are on vacation.
Unless you are an experienced professional at telling lies to people whose job it is to determine if you are lying to them or not you probably shouldn't try to enter the US without having your visa in order.
More generally - we've not yet secured our visas but our E2 (foreign investor) application is in and we should be eligible as we've brought a chunk of money from the UK (you need a 'viable' amount - more for a factory, less for a coffee shop).
Culture is great and much better (and cheaper) than the UK. SF is a very positive place to be starting a company (Boston's not a whole lot better than London thoguh).
Not having a social security number us a royal pain and if you're not careful can sting you all over the place (like bank accounts). One of our founders had very good relations with his bank so we just about managed to get personal and business accounts but that can take a long time and you need one before you apply for your visa.
3 month stints are feasible but dangerous. We're on our second and I know others who've done three but who are definitely on the edge now.
As Gustav said, don't say you're getting paid - treat YC as a training programme and if you at all can then pay yourself through your home company. Don't lie to customs either though - our lawyer (who used to do visas for you tube and google advised that you're much better off being bounced honestly than having a lie highlighted during your actual visa interview.
All in, it's all just about possible (though we can confirm that for certain if and when our visa's get issued - the process takes 4 months and that's after you've sorted out your bank account, incorporation, investment etc) but tricky. It'll definitely sink a lot of time.
http://www.thedelawarecompany.com/llc_corporation_informatio...
I just need to clear one thing now: considering I incorporate in the US, how do I manage to "pay myself and my co-founder"? I mean bills, common expenses, rent, food, etc? Can I transfer company revenue to a personal account? I know it is bad to mix personal/company cash flow, but is it ok/acceptable to use a corporate credit card?
I know that this is not something to worry enough to make me lose my sleep, I am just curious about how things are handled fiscally and in terms of accounting.
* edit: Removed the "pre" formatting. Sorry.
The next best option is probably London. I'm guessing it's the best place for start-ups in Europe?
And yes, if its too grim, forget about the Vally. Yes, its sad and disappointing especially with all the pundits stressing the value of location. But be wild. Its a constraint, and last time I checked constraints promoted creativity. So use your resourcefulness to make up for your lack of resources. Its fun. Really!
1. Set up a bank account in your host country.
2. Get a B1/B2 visa and then go to the US.
3. Assuming you get selected at YC you will need to setup the a company which is fine.
4. Next you will need to take the YC investment of $15K, but you can't take that into a US account, so instead have them wire it to your account in your host country. After this when you come back for 3 months, you should be okay as long as you withdraw money only from your account. If possible get your visa status changed to a work visa then.
edit: or ask petenixey