Starting a one-person LLC options

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I have a personal project that's doing pretty well (over 370k downloads), but with no monetizing solution so far. Before I go in for monetization, I'm trying to browse the different options out there that would allow me to create a brand name/business for this product and a few others.

I eventually came across E-Residency in Estonia, applied for it, got my card then started the process with LeapIn. Everything was going smooth until I learned there's no guarantee Paypal would approve my business, to then learn that I have no right to enter an email address with my business domain name in the Estonian Business Registry, it had to be an @leapin.eu address that I had no access to, which sounded too odd and intrusive to me so I canceled the entire process and got a refund.

I'm rather a technical person (software engineer), with very shallow knowledge when it comes to taxes, accounting and the legal aspects of starting a business, so I'm seeking advice.

To summarize my situation, I'm currently working as a software engineer in France, I have a resident card which expires in November 2020 (status is renewable), and I'm looking for the best alternatives to start my business while keeping my salarial activity in parallel.

Ideally the business would be location independent, similarly to what the E-residency program in Estonia offers. The goal being to quit my day job and become a digital nomad should the business do well.

The key factors for my choice would be driven by:

Ease of company creation (in the form of a one-person LLC)
Lower taxes
Unique remote physical address for the company (The program in Estonia uses the same physical address for hundreds/thousands of applicants, which is I'm guessing the major reason for Paypal denying them access to their service)
No intrusive policies from the physical address provider/contact person
Lower fees for accounting, tax filing, and company creation.
Any hints/recommendations would be appreciated.
#oneperson #options #starting
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  • Profile picture of the author DWolfe
    First off welcome to the forum very informative first post. Wish more were like this. However with this said you have to realize that tax and legal advice in this forum. Will not be the best place to find it. You really need to see a actual accountant for setting up your business and taxes.

    Very few people here have actual knowledge of International business laws and accounting practices . Any they thing say here that is wrong and you go thru with it will be your fault. Kind of a humbling welcome, but the truth is better than getting in trouble.
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    • Profile picture of the author Nifty Thoughts
      Thanks DWolfe for the warm welcome. In fact I reached out to 2 lawyers so far, the first asked for 8k euros to drive a "deep research" targeting my very specific case, obviously I didn't even bother replying.

      The second charged me 60 euros for a quick phone conversation, she gave me general information that did not sound accurate, and suggested an in person appointment for 250 euros through which she would go into further details. She did not sound genuine/confident so I let go.

      I feel I need more of legal advice rather than accounting which is why I reached out to lawyers. That said I understand and assume the risk of potential misleading information in the forum, I've my ways to dig in and filter out wrong information.
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