Embarking on the journey of establishing a crypto hedge fund in the United States has been a long-standing aspiration of mine. Back in 2012, I contemplated incorporating in Delaware, aiming to launch the next big startup. However, due to a lack of experience and clear direction, that endeavor didn't materialize. Despite this, the lessons learned during that period were invaluable and set the foundation for my future ventures.
A few years later, I took a significant step by traveling to the U.S. and opening a personal bank account at Wells Fargo. This experience not only familiarized me with the U.S. financial system but also reinforced my ambition to establish a business presence there.
Currently, as the CEO and Founder of Terramatris, a decentralized finance (DeFi) crypto hedge fund, I'm exploring the possibility of incorporating an LLC in Wyoming to manage and expand my crypto trading activities, including the integration of our TerraM token. While it's important to note that forming an LLC doesn't provide a direct pathway to permanent residency in the U.S., it serves as a strategic starting point for business growth and establishing a foothold in the U.S. market.
At present, our crypto hedge fund manages assets totaling approximately $6,000. My plan is to initiate the incorporation process once our assets reach the $7,000 threshold, with a vision to scale up to $50,000 before pursuing more substantial business developments.
In my research, I've identified Firstbase as a viable partner for this endeavor. They offer comprehensive services to launch an LLC in Wyoming or Delaware for a one-time fee of $399, a process that can be completed entirely online. This package includes company formation, obtaining an Employer Identification Number (EIN), and access to essential legal documents, among other benefits.
Pros of Using Firstbase:
- Cost-Effective Formation: The $399 fee encompasses all necessary services for incorporation, including state filing fees, which is competitive compared to other service providers.
- Comprehensive Support: Firstbase offers lifetime expert support, ensuring continuous assistance throughout the business lifecycle.
- Exclusive Rewards: Access to a vast network of partners and rewards valued at over $350,000 can provide significant advantages for a growing business.
Cons to Consider:
- Registered Agent Fees: While the initial formation fee is economical, maintaining compliance requires a registered agent, which Firstbase offers starting at $99 per year.
- Mailroom Services: For businesses needing a physical U.S. address, Firstbase provides a mailroom service at an additional $35 per month.
Reflecting on my journey—from the initial plans in 2012, through personal financial integration into the U.S. system, to now leading Terramatris—I've gained a nuanced understanding of the U.S. market. This experience positions me well to navigate the complexities of incorporating a crypto hedge fund in Wyoming, leveraging services like Firstbase to establish a robust and compliant business entity.