I understand the immediate need is just to notarize some code in the AppStore, but I think it will be worth it to consider the entity thinking about future needs that might arise later on for our Network.
Ya, I’ve been digging through stuff. Here is my general conclusion.
Setting up a DAO for pillars is a nonstarter. Few if any will participate
For me, setting up an entity in a foreign land will be a mistake. I don’t do any international business and have no idea how to setup the entities, how to tax and report them. I would need to hire an atty to advise me and that is a waste of money. Then I need to hire a tax professional who does international returns. More wasted time and money.
It’s possible I setup a foreign entity and lose protection b/ I’m operating out of the US.
The only option for me is to setup a WY LLC. I would prefer to do it solo so it’s a disregarded entity that does not file a tax return.
I’m going to setup this entity regardless of what others do. I would encourage other US citizens to setup a WY entity so they can also participate. It costs $150/y and you can keep your identity private but known to a registered agent.
The setup can be complete in a few days. That’s where I’m at.
I think other international community members in crypto friendly jurisdictions should also create LLCs.
I haven’t done it but from what I’ve read setting up international for US citizens is very strict. You forget to file a form and consequences are pretty harsh.
If it’s all the same to you, just registered a Catawba DAO LLC entity a few days ago and have a pending DUNS number needed for App Store submission. It is a Zone I plan to work closer with anyways so can proceed accordingly to get this across the line with @aliencoder if that works.
Apps can also be transferred between entities so in the long-run I do think an ideal scenario is a Pillar-operated DAO LLC (whether it is Wyoming, Catawba, or elsewhere).
Just waiting on DUNS number, had to work with Catawba to make sure they were recognized but they were quick to respond. In correspondence with DUNS now to get it registered.
On a side note, how is the publishing entity going to be able to protect and absolve itself in the event of faulty or even malicious code.
Ideally this would be a distributed responsibility in the long-term not only to distribute risk for the entity but also adds more leverage to the network. Pillars as a DAO entity I do think is at least logically the best structure. Can abstract identities behind an LLC for each Pillar and each Pillar as a DAO actor.
This won’t happen for Apple software. They check your code (sometimes even manually) and if it’s susceptible to intrusions, they will reject the app. It will also get rejected if it doesn’t meet certain security standards.