Should We Register a Startup for an app we built as friends?

Hi All,

My two best friends and I built an app and we are wondering how to proceed with regards to the business. We are distributed across three continents: Africa, Europe, and the US. We are looking to accept payments soon and would like to register a business and a bank account for this.

Do you have any recommendations, and is there a service for this?
Are we doing the right thing?
Do we need to register a business to create a business account for App and Play Store?

Check it out here https://thescatterbrain.app/

Thank you in advance for your help, we appreciate you!

Hugo Pretorius

posted to

Ideas and Validation

on April 14, 2021

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1
1. Use Stripe Atlas and accept payment through Stripes
2. Yes but don't get bogged down by too much stuff before you get users
3. You need a developer account- can't remember if it has to be a business entity (iOS has additional requirements)
SymbolOfFlight

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3 years ago
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Yes, you need to incorporate a business and get everything straight to avoid future troubles.

To answer your questions:
1. It depends on the specifics of your business, so it is hard to recommend a specific jurisdiction at this point. If you plan to raise venture capital in the future, then the US (Delaware or Wyoming) would work well. If you want to bootstrap it all the way, then Georgia (the country) could work very well for IT companies, too. Singapore is also a nice option in both cases. But, really hard to say without real insight into what you do.
2. Yes.
3. I don't know.
Feel free to reach out via email if you want to discuss the first point.
petartod

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3 years ago
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