Awhile back there was some discussion about how one could use SAFE to create a multinational corporation on the cheap. More to the point it pointed out how one could incorporate in any country one chose, thereby evading taxation legislation. The purpose of this thread is to work out an easy how-to guide for the layman on how to do exactly that. How to create your multinational corporation, how to store your money on SAFE, how to select a country to avoid (or use) specific legislation and how SAFE might play into said legislation. I mean crypto has been banned in some countries if Iâm not mistaken.
Iâm looking for help creating this guide. Anyone who might know more than me (thatâs easy) and who could provide sources and insight. Itâs time we stopped allowing big multi-billion dollar corporations from being the only ones that could take advantage of extra-national incorporation to avoid undesirable legislation.
I consider this kind of thing marketing since it would show one of the many practical applications of SAFE.
Maybe itâs fun to check out http://colony.io/
Itâs not really a SAFE project, but I say everything will be a SAFE project eventually.
[quote=âBlindsite2k, post:1, topic:6901â]
More to the point it pointed out how one could incorporate in any country one chose, thereby evading taxation legislation.
[/quote]Move to South-America the only taxes they know there is Texas. If your physically somewhere they can always force you, unless you because a bum then you donât have to pay tax.
Bitnation is a fun idea, but it doesnât really say anthing.
More important I think simply using the SAFE Network you can become private again, heck even escape taxation, corporations and simply have fun experimenting
Sometimes your posts drive me nuts. This one, no way-- it is a GEM! If I had to hazard a guess, the SAFE team has faced similar difficulties to what Dawn & Klouds have faced in the way of incorporation. We fit terribly, at best, into a US C corp, which is the easiest thing to get funded with. We also want to experiment with ownership structures and the like.
So⌠Has anyone here cracked this nut? I havenât, but Iâve failed to crack it on several occasionsâŚ
Well I think itâs worth asking how the big multibillion dollar multinationals do it. From a legal point of view the number of zeros shouldnât make a difference.
It shouldnât but it does. Basically when you are starting up, you canât afford the type of lawyers that the big guys use to build their corporate structures.
Current law is designed such that you cannot win without enormous sums of money. Instead, I think that the way to go is making a new way of making businesses (AKA formally recognized groups of people working towards a common goal)
If law = money then you can throw the law books out the window because weâre living in a plutocracy. Like you say it becomes a matter of working together and pooling funds.
Actually, I think that the ideal method of registering a business involves no funds. Businesses (that arenât totally broken) truly do benefit society, so creating one shouldnât cost a penny. The ones that are found to not benefit society, should have their corporate charters revoked-- except-- that would mean government, which I am not for.
Having lived it more than once, I can say that what is needed is the wide acceptance of cryptocurrency. Once you have that, you can build a computable corporation. Until then, you will be reliant on opening a bank account to make a businesss, and while this doesnât require extreme wealth to do, I can say for certain that it does bind businesses into a non-crypto reality of accounting for governments sake, as opposed to accounting for businessâ sake. This should be possible with todayâs technology, but isnât practical because of the barriers to using crypto that exist in most places in the world.
Well that is unless we manage to decentralize currency exchange. Then it wonât matter if people store their funds as crypto or fiat or if crypto is widely accepted or not. If a store can refuse to accept debit or credit and strictly accept cash then why canât a store only accept cash or crypto? At the end of the day you find someone local, sell your cash for safecoin and itâs like putting money in the bank.
Yep, until we can cut the ties to government regulation we are regulated by said government.
###DAC < interacts > Government Regulated Company
I do have some thoughts on this topic though. You would need to break the company up into subsidiary companies. I think this is probably how the big ones do it anyway. The main company is the Distributed one (hopefully itâs a DAC/DAO) with no interface within any local government. If you interact within a government, a new company is created and has to live under that governmentâs regulations. The regulated company can work with the Distributed/virtual company as it can with any other out-of-country business. There are lots of loopholes that can be used to move some funds from regulated to deregulated.
Suppose the main product Regulated sells is leased from Deregulated. Regulated spends almost all its income to lease the product, thus making near zero in profit. Just one exampleâŚ
###Paying Back or Paying It Forward
I can tell you though, the âsomething for nothingâ crowd will not like you for this. You better find a way to give back to society and make it really clear what youâre doing. Should be easy to help folks though when the regulators are not taking their middleman fee.
You have the right idea but as soon as one enters into the company zone one becomes bound by the corporationâs law of the nation in which you choose to register and subject to their laws. But thatâs not where the problem stops; now consider the abominations of the TPP and TFTA, their effect is generally the same in that large financial service corporations can control foreign nations. These âagreementsâ effectively hand hegemony to Wall Street and the like. They are secretly agreed by non elected surrogates in their respective nations.
It is my opinion that with the anonymity that the Safe network provides there is no need for there to be a corporation for international and intra-national trade in all forms of commodities, goods and services including my concept of a ânegotiable trade credit (NTC)â. This âcurrencyâ is created in each act of selling and redeemed in each act of buying. The value of NTC is solely determined buy each buyer and each seller. And weâre all both buyers and seller at different times. The currency is perfectly elastic and therefore there is built-in assurance that there is no shortage and no surplus money in the system and accordingly it will remain stable in the long run. The facility should come complete with an accounting facility held by each participant, not on a publicly auditable block chain.
Now consider that the entire world operates on fiat currencies and history proves that all fiat currencies fail over time. In times past there has always been somewhere to which one can flee to avoid the catastrophe, but now there is no refuge on the planet and weâre presently at an advanced stage of collapse of the entire global system. Weâve reached the end game of the Keynesian ponzi fraud! What to do under this deplorable state of affairs? My solution is to create a platform on the Safe network with interdependent facilities for Commerce, Currency (NTC), Communication and an Independent Media Service to counter the propaganda pumped out by the six western âpresstituteâ corporations. Each currency, communication, commerce and media) module is to be inter-dependent upon the others and thereby we can quickly create a massive network. Thereâs yet another factor that is to be incorporated and that is to provide a facility for those wishing to abandon fiat for a stable NTC currency and that can safely be provided for by issuing new NTC for allocated gold which is then vaulted in multiple nations at the vendorâs request for the benefit of all those adhering to the rules of the combined facility (TelelinkGlobal?) which is thereby owned by all participants in the changing ratio that their NTC bears to the whole issue. There are also aspects of this than can operate to provide facilities for investment and infrastructure. And well designed over time this facility could provide a parallel banking facility, eliminate central banking and reduce republican government to what it was originally designed for - to protect the liberty of the people.
Frankly Iâd want to get rid of government completely. Itâs obsolete. As good as your system sounds it also sounds like itâs a new form of government of some sort which Iâd want to avoid. Better to avoid too much inter dependency and keep things decentralized.
I personnally amambivilent on the issue of minimal government Vs no government but as to the inter-dependency of the modules I describe each needs to be monetised. Meaning people with something to sell need to be paid, hence NTC, investigative journalists need to be paid for each article, developers of the facility need to be paid for their contribution, providers of fibre optic cables charge for traffic and they also need to be paid so users of the VoIP facility need to be chargedâŚand so on. You canât have commerce, communication or top-class media service without payment. And particularly the system delopers need to receive a royalty or some alternative for their efforts.
Personally I would hope purpose would overtake raw profit as a motivator but yes I see where youâre coming from. No matter whether youâre paying someone in fiat, safecoin, honor or the knowledge of helping humanity itâs still a transfer of energy and interconnectivity. You canât really socialize let alone perform commerce or organize on any social level without allowing for vunerability and risk, and therefore a measure of interdependency.