Hello everyone,
I have a Catch 22 situation.
In South Africa, equity funding (which ICO's would be considered as) can only be accepted through a PTY compmany.
On the other hand, the project we are working on should be seen as a Non Profit Company for two reasons.
1. As an NPC, we will gain more trust if we are seen as a Non Profit.
2. As an NPC, we will be able to accept grants, but not equity money through the ICO.
For this reason, we have to register both but here is where it gets a little tricky again. The PTY will be a For Profit business (the profits however will be moved to the NPC to do more good with) and my concern then is that once we launch the ICO, people will see the For Profit entity as a problem.
I don't know if this is unique to South Africa but if there are other people who have come across this situation, I would love your insight and how you overcame it.
I have posted about it here. https://leaderless.co/blog/2018/02/02/funding-leaderless-pty-vs-non-profit-vs-icos/
Many thanks,
James
Topic: ICO Equity funding for PTY vs Non Profit (Read 126 times)
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