Hello, everyone! How are you all doing?
I’m writing this post because I’d like to get some feedback on a product I’ve been developing over the last two years, which is currently being tested in a private alpha. I need to validate how I plan to present the company, the product, and the choice of where to incorporate the company.
About the product
We’re developing a cloud storage solution with end-to-end encryption (E2EE). Here are some key points:
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All user files are encrypted on the client side, and payment information is encrypted on the server side using our own keys.
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We don’t use recovery emails or phone numbers.
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We accept cryptocurrencies for those who prefer not to share financial data.
My marketing goal
I don’t want our marketing strategy to be like companies such as Proton, Skiff (before it was acquired), Tuta, etc., which focus exclusively on encryption or geographic location to differentiate themselves. I want to highlight our product’s qualities: its features, quality of support, and a series of content about security/encryption that is both technical and accessible to those without in-depth knowledge of the subject.
Why is this important? Because I see a lot of people without technical knowledge defending or criticizing products based on incorrect information. Additionally, there are those who believe that companies like Proton and Tuta are only for people with something to hide or for criminals. I’d like to adopt a more inclusive stance and focus more on the product’s qualities, with encryption being an additional differentiator.
Our current status
Currently, we have some clients using our alpha version. All are paying for the service, including small businesses, some medium to large companies, and about 50 individual users (friends and acquaintances).
I live in Brazil, and I know this isn’t the best place to start a company due to tax issues and, more importantly, the laws. Our legal system is extremely inefficient, and anyone with power can act arbitrarily (just look up STF Brazil vs. Twitter to understand more).
OBS: I have a strong personal desire to move to Switzerland or Japan, places whose culture and people I admire. However, that’s not possible for me at the moment.
Potential countries for incorporation
Given the situation, the countries where it’s feasible to incorporate the company are:
USA:
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Pros: Easy to open the company, easy to open a bank account as a non-resident (digital banks like Mercury, Wise, Ramp, etc.), relatively cheap to maintain.
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Cons: Lots of bureaucracy, forms, complexity, and difficulty in accounting declaration.
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Possible Red Flag: The Senate recently passed KOSA.
UK:
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Pros: Easy to open the company, simple for tax filing, cheap to maintain, all management with the government is online.
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Cons: Difficulty opening a bank account without residency; only Wise accepts.
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Red Flag: Online Safety Act.
Unfortunately, Estonia isn’t a viable option, despite the e-Residency, as they closed the consulate in Brazil, making it difficult to obtain e-Residency.
Other countries like Singapore, Switzerland, Japan, and Germany require a resident director or nominee, making the process too expensive at the moment.
My current idea
I’d love to hear your opinions on these options. It seems like the world is moving towards regulations similar to those in the UK, and the USA has already started flirting with this idea, as has the European Union. I believe that in 5-10 years, few countries will be free from such regulations.
I think I should open the company in the UK or USA and, in the future, once we have more capital, relocate to Switzerland, Singapore, or Japan.
Finally, the question LOL
Would you have any issues using a service that offers quality, good pricing, support, and encryption, even if it were incorporated in the UK or USA? Would it make a difference if we had an article on our website explaining our future relocation plans?
