What You Need to Know About Creating a Crowdfunding Campaign on Kickstarter

The article outlines useful information for those planning to develop their crowdfunding project using the Kickstarter platform.

The reality is that launching a crowdfunding campaign on Kickstarter is quite challenging for residents of the CIS countries. According to the platform's rules, only individuals residing in the US, UK, Canada, Australia, New Zealand, Netherlands, Denmark, Ireland, Norway, Sweden, and Germany are permitted to create their own projects. Additionally, there are several other criteria that must be met:

- The owner of the company must be 18 years or older;

- Must have a permanent residence in the country where the project is created;

- Must have a registered address in the country where the project is created;

- Must possess a passport from the country where the project is planned to be created or a European Union passport;

- Must have a credit (or debit) card.

However, it would be premature to assume that merely having a company in one of the aforementioned jurisdictions guarantees smooth sailing for launching a project on Kickstarter. For instance, founders of various forms of ownership who initiate the creation of a crowdfunding company must meet the same requirements as individuals (as described above).

How to Create a Crowdfunding Company Abroad

1. Find a Business Partner: Look for a business partner living in one of the previously listed countries who is willing to open a company under their name. While negotiating with an individual or company might be straightforward, securing legal assurances of fair play can be trickier. To avoid becoming a victim of fraud, seek professional assistance right away.

2. Choose a Mediation Service: Select a mediation service through which your projects will be published. Thoroughly examine all documents beforehand to ensure that deceit is ruled out. Unfortunately, many creators' experiences show a wide range of scams, often shielded within legal frameworks. Promised top rankings or social media promotions might end up being just as virtual as online interactions.

3. Relocate to Another Country: Consider moving to another country and obtaining residency status there. Weigh all pros and cons carefully, especially focusing on the financial aspect.

4. Explore Other Platforms: If your project is promising and attracts a broad audience, perhaps it’s worth exploring alternatives to Kickstarter. Consider platforms like Indiegogo, for example.

Ultimately, keep searching, and the solution might turn out to be simpler than initially anticipated. For further information on this topic, reach out to the lawyers at Law&Trust International.