Ownership and Legal Structure - genesisdotre/IslandDAO.github.io GitHub Wiki
Optimized plan
- 1️⃣ Land ownership and real-estate
- 2️⃣ Real-estate maintenance (local company that employs local people generating jobs)
- 3️⃣3️⃣3️⃣3️⃣3️⃣ Events, seminars, conferences, activities, day to day customer service
There could be multiple 3️⃣3️⃣3️⃣3️⃣3️⃣operating companies
1️⃣ Will be the most boring, most stable, set-up and forget. It doesn't have to be EU... It will simply hold the assets.
2️⃣ Will be 🇪🇪 Estonian company as it will employ mostly local people
Since 1 January 2020 the minimum hourly wage rate is 3,48 euros per hour.
As a matter of policy, the minimal wage is double the minimal wage. I do not know the exact condition of the labour market in that region of Estonia, but double the minimal wage for simple jobs feels acceptable.
I'd also like to suggest part of the salary to include equity in 1️⃣ to encourage employee ownership.
3️⃣3️⃣3️⃣3️⃣3️⃣ Can be DAO, can be an independent company, can be anything and everything.
Initial plan
1️⃣ Holding company 2️⃣ Operating company
Once the 1️⃣ purchase is done, let's talk to the bank to release cash and reinvest in 2️⃣.
Service providers for incorporation
99% all the legal vehicles will be incorporated in Estonia, it simply makes sense.
- https://www.xolo.io/ (formerly LeapIN)
- https://korporatio.com/
- https://twitter.com/lex_DAO
- STO: https://polymath.network/ + https://harbor.com/
- https://www.openfinance.io/
- https://republic.co/
Inspiration
Ability to structure the deal: https://youtu.be/J_k_rqMfOOw
A lease purchase option - https://en.wikipedia.org/wiki/Lease-option - is possible but adds complexity.
In a lease-option, a property owner and tenant agree that, at the end of a specified rental period for a given property, the renter has the option of purchasing the property.
These guys are even putting it on the homepage!
