We at Neubase work in fierce competition.
Stripe Atlas, Firstbase, and Clerky are part of Y Combinator. Northwest Agents have been in the business for a long time. A simple Google search will throw up many more names. And now you must be wondering why Neubase and not one of them.
After reading the following few paragraphs, you will have a clearer picture of whether you should hire us.
When someone realizes the many benefits of opening a company in America and decides to open it, the next step is to decide who to entrust the incorporation of their venture. Establishing a company in America means creating rights and obligations in another country, so the choice requires some caution.
A Few Things We Are Well Aware Of:
There is limited room for innovation, only for a different service. The formation of an LLC is prescribed by law. Hence, there is no room for innovation in this field. The software allows the establishment and management to be performed online, but there is a limit here.
We don’t try to be better because there is no way to be better. But we do try to be different.
On the other hand, there is an opportunity for better service. We gathered opinions about post-point providers circulating on the Internet, and we also talked to a hundred entrepreneurs from our region who showed their intention to establish a company in America. From them, we got an idea of what are the things that make them hesitate to start a global business.
You need ongoing support, not just starting a company. That’s why we favor the Neubase Managed package. We don’t want to have a business where we just set up a company for you and leave you to the wolves.
Establishing a company abroad means rights and obligations towards the foreign country. It is not a simple matter and therefore we believe that you should receive constant and full support.
Competition is fierce, but we target a niche market. Over half of the companies founded through Stripe Atlas, Firstbase, Clerky, Doola, and others were founded by Americans.
Doola and Clerky, for example, are reasonably priced for Americans because of the higher tax and accounting requirements, but because of that, they charge the same prices to foreigners. However, there is no need for the product to be so expensive for foreigners when their needs are different.
We target the market of Southeast Europe. Not only because we know the culture better, come from here, and have experienced your problems ourselves, but also because we can offer a different product/service package tailored to this market.
Included in Doola’s prices, for example, are the voluminous tax returns that Americans have to file each year. Why would you pay such a price when your applications are simple and cost less?
People in our region are used to being let down all the time. By state bodies, by private companies, by employers, by employees… by everyone.
At our free consultations, we see skepticism even toward established companies like Firstbase and Doola. We quickly realized that trust is hard-earned and fragile, so we are aware that we have to be open and transparent with our customers. All the more so…
We serve some of the smartest people in our region. If you’ve been around people working in international markets, you know what we’re talking about. Our target group is digitally literate people who look critically at the various offers they receive and know how to explore all the options available.
With this in mind, below we highlight a few differences between us and the most famous competitors. We are not saying that one is better than the other. We point out differences, which in themselves are neutral, and you decide which side suits you better for your particular situation.
Neubase v. Stripe Atlas
The best payment processor in the world can set you up with a company in Delaware and make their payment services available to you. However, once they establish the company, they do not offer any additional services.
Although in 2021 they had already founded over 20,000 companies, they are not trying to serve them with non-financial services. We assume that Atlas for Stripe is just another client acquisition channel and that’s why they don’t spend resources on it.
The differences between us and Stripe Atlas include:
- You can call us all the time for any support, but you can’t call Stripe.
- We focus on Wyoming and they focus on Delaware. We think that, of the two, Wyoming is the better option for foreigners if you’re setting up an LLC because it doesn’t require paying the $300 a year franchise tax. Whether your business makes you any money or not, LLC founders have to pay this $300 each year to the State of Delaware.
- If you are setting up a C-Corp, then Delaware is a better option. C-Corp, for someone starting a company from Macedonia, Serbia, Turkey, or anyone outside of the US is a good option only if the company is ready to take venture capital immediately. We do not currently offer a C-Corp in Delaware as Stripe does, but it is on our roadmap.
- The price of Stripe includes only the incorporation of the company, but not the filing of annual returns with the Secretary of State and the IRS. You’ll have to calculate those costs yourself.
- From the second year, Stripe only charges $100 for the registration agent. We charge $590 for registration agent, filing of annual returns where due, state filing fee, etc.
Neubase v. Firstbase.io
Firstbase offers a lot of services, but it also has a very complex pricing structure.
- What we don’t like at first glance is the imposed obligation for new users to pay $35 per month or $350 per year for a US address only. No one else requires that. Registration agents always allow their address to be used. Besides, you can rent another address in America for ten dollars a month. $35 is not cheap anymore.
- Additional services for compliance of your operation with laws are included in their Autopilot package. It costs $300 per year and includes:
- Registration Agent
- Filing for an annual return, state fee not included
- Software to prepare your own IRS tax returns. We’re talking about software that you take responsibility for if you enter the wrong data to the IRS ($25,000 penalty).
- That’s how we arrive at an annual price of $650, to which you also have to pay a fee for submitting the annual state return. In it you only get an address, filing an annual return, and a tool to prepare and send your tax returns yourself (you need to send them by post, only a certified public accountant can send them online). The expert support they promise on their website only includes free introductory consultations with lawyers and accountants. I have tried to get a consultation and most of the time someone in a junior position calls who instead of giving a consultation tries to upsell a more expensive service.
- Our $590 annual package includes the ability to call us for any support, and tax returns are prepared by a real person with experience. We do not provide software that shifts responsibility to you.
Neubase v. Clerky
Clerky is the first company of its kind to receive an investment from Y Combinator. It is focused only on startups that want to be structured as a C-Corp.
C-Corp, as already mentioned above, only suits startups that need to get an investment at any moment. Unlike LLCs, C-Corp companies pay a federal tax of 21% plus the tax in the state in which they are incorporated, which in Delaware is an additional 8.7%.
Apart from the establishment, they only offer more document templates as support. So if you have a startup, you have much better options than them.
Neubase v. Doola
Doola is yet another Y Combinator company. They will set up your company for about $300, EIN included.
You have to pay more if you want support year after year.
Their packages, which really allow you to not think about any paperwork at all, start at $2,000 per year and go up to $3,200 for a year. It also includes accounting for up to 240 transactions per year, which is not too much.
These prices may seem high to you, but they don’t seem high to US entrepreneurs, which Doola is focused on. US residents have comprehensive annual tax returns. Non-US residents have not. These prices are adjusted to them, not to your individual tax returns and other obligations.
Your IRS submissions are included in our subscription fee of $590 per year.
Neubase v. Northwest
Northwest are registration agents that will set up any company for you in any state in the United States.
Considering that they are registration agents, this means that they only deal with the communication between the company and the state in which you are incorporated.
LLCs in Wyoming form for just $140, but EINs charge an additional $200. The submission of the annual report and the fee that goes with it is additionally paid.
They do not offer any additional support. They do not help in the preparation and submission of tax returns either.
They have very low entry prices for new users, but then they charge a higher registration agent fee from the second year.
Final Thoughts
What we want to be different from others is the constant support for clients and the customization of services for foreigners setting up an LLC in America.
Another important difference between us and Y Combinator companies is that they prefer to provide services that can be completed with software. We, on the other hand, emphasize service, enabled and enhanced by software.
We know who our competition is and we know that you do good research online. That’s why we openly tell you what the key differences are, so you can decide for yourself which provider suits you better.
