[NCUC-DISCUSS] Estonia

[Tapani Tarvainen]

[Subject changed]

On Nov 07 23:18, Mueller, Milton L (milton at gatech.edu) wrote:

> Tapani:
> > I have heard horror stories of US banking system before, but it
> > did not occur to me it could actually be so bad that you can't
> > share a bank account with someone in another state.

> I don't think the US is that different from anywhere else in this regard. 

>From your description it sounds like it is worse than some,
although there're certainly worse ones, too.
(Having somewhat international family I've arranged shared
access to Finnish bank accounts with people in Germany,
Spain and South Africa, and it's been fairly easy.
Not as easy as with Estonia though.
Also, money transfers to USA are surprisingly difficult,
as US banks still don't use IBAN.)


> > It might be worth considering incorporating NCUC in some easier
> > jurisdiction.

> ;-) this sounds like the IANA debate. These kinds of comments are
> completely unhelpful unless you know of a specific jurisdiction and
> one knows a lot about the legal properties of that state and how it
> differs/is better/is worse than the current one.

Yes. And I did suggest a specific one for a specific reason. :-)

> > What do you think of a non-US jurisdiction for incorporating NCSG, and of
> > Estonia in particular?

> It sounds like a great idea, a transnational corporate identity -
> you probably know enough about my views to know that I like that.

I thought you would.

> But the devil is in the details. That would have to be explored
> carefully.

Of course.

> E.g., did you read this? 

> "Establishing an Estonian bank account currently requires one
> in-person meeting at the bank, and is at the sole discretion of our
> banking partners."

Yes. But after the account is established, it could be handed
over easily.

E.g., I could drop by in Tallinn to open the bank account,
you'd get Estonian e-residency, which you can get without
ever leaving USA, then the account could be transferred
to you 100% electronically without any paperwork.
Likewise if we later change Treasurer or choose a backup one
from, say, South Africa, he or she could get e-residency
without a need to travel to abroad.

> And this: 

> "e-Residency does not automatically establish tax residency. To
> learn about taxation and to avoid double taxation please consult a
> tax professional."

Yes. But my understanding is that it is easy for NGOs.
It'd have to be checked, of course.

> Also, tax-exempt status for donations would be important, so we
> might still have to get 501 3 C if we wanted to get donations from
> certain people.

Yes. US donations are important. Likewise a similar status
in other countries where that is relevant.

> So, my only campaign promise to you is this:

> 1. I will help do the homework. If Estonia e-residency is the best
> for us, we will do it.

Good.

> 2. On the whole, I am completely uninterested in any symbolic
> statements about leaving the US for the sake of leaving the US.

Fair enough. I'm happy with that, as long as you conversely
don't want to stay in the US for the sake of staying in the US. :-)

-- 
Tapani Tarvainen