RE: [atlarge-discuss] incorporation - misinformation debunked

[Eric Dierker <eric@hi-tek.com>]

Abel,

In large part - let us say NAFTA, Pacific Rim and EU, Most of Africa and 
Asia - do not have what one would call a national policy.
It is a state, provincial, local committee type deal.
For instance; http://www.ss.ca.gov/business/business.htm

The costs are minimal and the diligence required almost universally only 
require that your income is through donations rather than earned income.
Also most carry a requirement of percentages of a versus profit requirement.
ICANN's paperwork is a great example of how to do it and then not follow 
through.
If you are looking at Verisign they are a great example of doing it right 
and then not following through with the SEC. Watch for them to follow 
worldcom - this is called and EDGAR filing stipulation.

I hope this helps you in your great work.

e 


>>From my knowledge registered agents cost money, substantial amounts of
> money.
> 
> I would appreciate it if someone could outline the exact process that
> is involved with:
> 
> Incorporation in the USA
> Obtaining IRS 501(c)(3) status
> Maintaining both 
> 
> Incorporation in AU or NZ 
> Tax-exemption status
> Maintenance
> 
> Incorporation in any EU country
> Tax exemption status
> Maintenance
> 
> Regards
> 
> Abel
> 
> P.S, links to relevant information sites would be most appreciated as a
> form of reference above the "I've done dozens in my time" references
> 
> 
>> -----Original Message-----
>> From: Jeff Holt [mailto:jefftttt@txucom.net] 
>> Sent: 06 July 2003 01:29
>> To: atlarge-discuss@lists.fitug.de
>> Subject: RE: [atlarge-discuss] incorporation - misinformation debunked
>> 
>> 
>> Ron et al...
>> 
>> I don't know where you got this mis-information, but I have 
>> been involved with IRS 501(c)(3) organizations since 1977 and 
>> the actuality is much less cumbersome than you describe.  The 
>> Registered Agent for the organization handles most legal 
>> correspondence and I have little doubt that the annual 
>> filings would be trivial in nature.  For a start-up the 
>> history you allude to is irrelevant.  There is to my 
>> knowledge NO Requirement for any "disclosure" of stockholders 
>> as you refer to it, since there are NO "Stockholders" to 
>> speak of for such an entity.  Your anti-US bias shows through 
>> clearly, "further domination of the Internet"???  
>> 
>> Sincerely,
>>  
>> Jeff Holt
>> Jefftttt@txucom.net
>> www.tejas-info-services.com
>>  
>>  
>> -----Original Message-----
>> From: Ron Sherwood [mailto:sherwood@islands.vi] 
>> Sent: Saturday, July 05, 2003 11:50 AM
>> To: Jeff Holt; atlarge-discuss@lists.fitug.de
>> Subject: Re: [atlarge-discuss] incorporation
>> 
>> 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
>> 
>> 
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> 
> 
> 
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