Creating New Legal Entities in FinTech is a Terrible Idea

Published by Yana on

It may seem like a no-brainer to create a new legal entity in a country where you are wanting to set up a business. However, today’s episode is all about why this is definitely not the right way to do things, and where you should be focusing your time and energy instead!

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Today’s episode:

  • [00:40] An overview of today’s super fun topic.
  • [01:29] Why legal entities are more of a liability than an asset.
  • [02:58] Cases wherein a FinTech founder may feel pressured to create a new legal entity.
  • [07:20] Examples of major companies that delay the creation of new legal entities until it becomes really necessary.
  • [08:23] What many FinTech founders don’t know about the process of creating new legal entities.
  • [09:00] How creating new legal entities in different countries can be detrimental to the growth of your company.
  • [12:35] The reason that you shouldn’t create a legal entity before you have built up a business in a certain area.

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