OCV starts our companies and provide support from core systems setup to advising founders during office hours.

We do not charge companies any fees.

During the formation stage, OCV may incur certain startup expenses on the Company’s behalf. There could be certain expense reimbursement (at cost) during the company launch phase, but amounts should be minimal unless a special domain purchase was required. Once the Company’s finance systems are set up, all expenses will be billed to the Company directly. OCV will invoice companies for reimbursement for actual costs incurred.

Company Formation Process

Company formation process generally takes 6 weeks from the date we receive signed indicative offer letter.

  1. Legal incorporation process: 2-3 weeks
    1. Founders will need to sign an engagement letter with legal counsel.
    2. Typical timeline is 2 weeks for draft legal documents, OCV review in 1-2 business days, revise draft (if needed), then DE filing (24-hour turn).
    3. Even with an expedited 24-hour processing time, EIN can take 2-3 business days to arrive.
  2. Concurrently with Step 1, transfer existing domain names to the company (if applicable)
  3. Bank account setup and funding: 1-2 weeks
    1. EIN is required for bank account set up.
    2. Founders may be required to complete KYC steps for bank account application.
    3. Founders and OCV to complete common share purchase before OCV SAFE funding.
    4. Founders to send in their 83b Election to the IRS and confirmation with the Legal Team within 30 days of common share purchase.
  4. Corporate credit card & EOR setup (after the bank account is funded): 1-2 weeks
    1. Founders to sign the EOR contract and complete founder onboarding in the EOR system.
    2. Founders may be required to complete KYC steps for corporate credit card.
  5. Other core business systems setup / purchase founder equipment, etc.: 1 week