Re: [atlarge-discuss] incorporation

["Ron Sherwood" <sherwood@islands.vi>]

Jeff Holt wrote:
The crafting
> of the AoI does need careful consideration to insure that ease of
> modification, but from my experience it is not difficult to achieve.  In
> fact, I have a template from another IRS 501 (c)(3) organization that
> could be easily modified to fit our own, as I am sure many would.

Good afternoon, Jeff and all:

It is attractive to consider the US as the location of incorporation, but
there are drawbacks too.

1) IRS 501 (c) (3) status is not easily achieved.  It requires a complex and
time consuming application process that includes all the red tape associated
with not-for-profit incorporation, plus audited statements of financial
status including a three year history and forward financial projections. It
requires disclosure of corporate officers and stockholders and is related to
the corporation as a taxable entity.  It also requires disclosure of
percentage of stockholder (or membership) nationality and other details that
apply to the proportion of a corporation that is required to be US owned.

2) Incorporating in the US implies further US domination of the Internet
user group that we wish to represent.

3) While you have suggested Florida as a location (good choice if in the US,
because of the officer' personal property protection laws in that state),
the liability risks for officers is much higher in the US than it is in most
other countries.

I think we should seriously consider the EU as a location for incorporation
because:

1) It appears to be much easier and faster, with less red tape and lower
individual liability.

2) It removes us from the US centric image that ICANN is stuck with.

3) It makes ICANN look even more US centric if they try to block or ignore a
serious, legally-incorporated grass-roots group from another part of the
world.

Ron Sherwood


---------------------------------------------------------------------
To unsubscribe, e-mail: atlarge-discuss-unsubscribe@lists.fitug.de
For additional commands, e-mail: atlarge-discuss-help@lists.fitug.de