Launching a new company typically takes 6 weeks at a minimum.
To launch a new company:
- Founder(s) sign indicative offer letter (official launch kick-off, see Founder Offer Letter)
- Legal / incorporation process: 2-3 weeks
- Founders will need to sign an engagement letter with legal counsel
- Bank account setup and funding (after regulatory filings): 1 week
- Founders may be required to complete KYC steps for bank application
- Founders to complete common share purchase prior to OCV SAFE funding
- Founders to send in their 83b Election to the IRS and confirmation with Legal Team
- Corporate credit card & EOR setup (after bank account is funded): 1 week
- Founders to sign EOR contract and complete founder onboarding in EOR system
- Founders may be required to complete KYC steps for corporate credit card
- Other core business systems setup / purchase founder equipment, etc.
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