How a Russian SaaS business bypassed their local bureaucracy and incorporated a Wyoming LLC

March 10, 2021

Using Firstbase, Storista.io was able to quickly and affordably incorporate their new business in the United States. Incorporating allowed Storista.io to access US tax benefits for foreign-owned founders, accept payments with online payment processors, sign US contracts, bypass their local country bureaucracy while building trust with US customers.

About Storista.io

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Challenge

Since Storista.io is based in Russia, the local bureaucracy and laws make it very difficult to create a global business and get access to payment processors and other tools for building a SaaS business. Storista.io also needed a US business bank account which was difficult to set up without incorporation in the US.

Solution

With the help of Firstbase, Storista.io was able to quickly set up a Wyoming LLC in the United States and obtain an EIN (Tax ID). By incorporating in the United States, Storista.io was able to get these additional benefits:

  • Set up and accept online payments through a payment processor
  • Sign contracts and sell services to US-based customers
  • Start a business bank account with Mercury, Firstbase’s partner bank
  • Get tax benefits only available to US-based founders and corporations
  • Build trust with US customers

Additional Benefits of Firstbase

Along with incorporating, Storista.io was also able to take advantage of Firstbase’s Network discounts on services such as JustCall, Brex, and G Suite. They plan to use free tax & legal consultations along with other Firstbase Network benefits in the near future.

Quote:

“Very easy and very smooth. I didn’t spend a lot of time providing documents. It took me about 10 minutes. Their customer support team was always in touch with me during the process.” Irek Khasyanov, Founder of Storista.io

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