Choosing an IP/IT Friendly Country and Registering a DevCo
Stage 1. Dev Lab Company Setup
Preparing a Cap Table, Founders Agreement, and ESOP
What’s the purpose of this task?
To start business operations you will need to create a legal representation for your Web3 project (a Dev Lab company or DevCo) and find the right jurisdiction to do so. While choosing an IP/IT friendly country, the options usually include these 6 jurisdictions. Please click the button below to view and compare these jurisdictions.
Why do I need to complete this task? What will it allow me to do?
This will help you to:
• Set up a fundable legal structure (a legal structure which is be able to raise investments)
•
Start company operations (hiring people, engaging contractors, subscribing to software)
•
Start aggregating IP in a single place
• Open a bank account and work with fiat
payments
When do I need it? When is the best time to do it?
When you start your first business operations (hiring people, engaging contractors, developing the project) you should set up your Dev Lab company.
How should I do it? Are there any best practices?
Most Dev Labs are registered in the coutnries where the management and the core teams of the companies are based. Also, its important to take into account the investors' requirements regarding the country chosen for registering the Dev Lab. Usually, Dev Labs are registered in the form of regular limited company.
What’s important to remember for this stage?
The location of the management and the core team, tax regime in chosen country, tax residence and economical substance of the company, possibility of remote company administration, and bank account opening.
How much time does it usually take?
This can usually be completed within 2 to 6 weeks, however actual times vary depending on individual project requirements.
Prices for this task start from USD $1000
Prices for add-ons are indicative only. Final prices vary and are set by service providers from the Legal Nodes Network.
Add-ons are only available with a monthly plan from Legal Nodes.
Legal Nodes does NOT provide legal services. Instead, we provide Virtual Legal Officers to orchestrate your legal workload and manage relationships with your service providers. Plans start from $499 per month and gives you access to the Legal Nodes Network of service providers and add-ons, including this one!
