Crowd Funding Site For UK & US?

[jamesbrad]

Hello,

I am currently building a crowd funding website, but was wondering if I have to limit the site for UK users only?

Or can I also allow US users?

 

[Cromulent]

Hello,

I am currently building a crowd funding website, but was wondering if I have to limit the site for UK users only?

Or can I also allow US users?

It's your website. Allow users from where ever you like. If you want to allow US visitors then its fine. There is no law stopping you from allowing US people to donate to a crowd funding programme.

 

[Major_Grooves]

There may well be laws that prevent you launching the business in either the US or the UK depending on what you are planning to do.

You need to talk to a lawyer about this.

 

[Granulr]

As above, I would get in touch with a lawyer before doing anything like this - all it would take is someone using the money that was crowd funded for something bad (or fraud) and it will take you and the website down.

There will need to be some strong professional T's and C's written up for the site.

 

[toastking]

There are very different laws for the two sets which is why the majority tend to stick to one or the other and then only hit both either a) when they've grown enough or b) if they've got a big financial backing.

I would recommend finding someone who speaks legalese (there are members here) and having a quick chat as they'll probably know even anecdotally, a lot more than people in general. I would personally go and speak to a few already doing crowdfunding (under a guise of research) to determine why people stick to UK or USA. Failing that I'd go and speak to organisations that love startups as they will be able to tell you everything as its their business to know i.e.

3 beards, Escape The City, Startacus, Crowdcube - there are loads but they tend to have a stronger london focus. I also know of 1-2 around Bournemouth and Southampton due to family roots.