To make it “official” and further the community takeover of Force, the core developing team members made their way to Switzerland with a particular focus on the town of Zug, the world renowned home of the “Crypto Valley”.

Why Choose Zug?

Because Zug is a small quaint city in Switzerland with nearby quiet lakes… truly, but as mentioned, the reason is for the focus on Zug and its famous Crypto Valley.

What is Crypto Valley?

It is a geographical area located within the city of Zug where many cryptocurrencies or blockchain companies, including Ethereum, Shapeshift, Lykke and others, coexist with each other. The vicinity facilitates the sharing of knowledge, labor mobility and lowers average operating costs, making it a very attractive place to establish a blockchain company, such as Force.

After contacting Crypto Valley Association (CVA) officials to clarify the conditions to establish, we were informed of the favorable climate for companies like Force, solidifying our decision to make it our future home.

First, the CVA representatives advised us to create a legal entity for Force, which requires us to have at least one board member residing in Switzerland. Second, Force will secure offices in Zug to setup official operations after the creation of the legal entity.

The team also had an opportunity to visit Zurich, which is a bustling city, situated merely 20 minutes from Zug by train. The city is home to Google’s largest engineering office in Europe, which demonstrates how attractive Switzerland is concerning taxes for large corporations.

Google Office Zurich, All Rights Reserved © Force United

Meeting with Counsel

During our stay in Switzerland, the team had a chance to meet with legal counsel who were recommended by CVA officials. After meeting and speaking with the recommended lawyers, they informed us that the most effective method to make Force a legal entity would be to incorporate (AG), which would require an initial seed capital of 100,000 CHF.

Zurich, All Rights Reserved © Force United

Subsequently, we were also informed that the Force board of directors would require at least 3 active members, a business plan, and a whitepaper. Once established in Zug, these requirements will quickly be fulfilled to finalize the legal entity for Force.

Summary

To complete the task of bringing Force Network into the crypto space as a legal entity, and to allow for increased transparency in our ongoing operations, it will be necessary to secure seed capital of 100,000 CHF to create the corporation.

Additionally, several current team members are in the process of relocating to Switzerland to complete the residential requirements for incorporation. We will setup head offices in the Crypto Valley, amongst many other crypto-industry leaders, and finally Force will be a legal entity ready for the next phase in our road map to develop a decentralized Internet network.

Get more info & explore Force:

Website| Twitter| Discord | Telegram| Github | ANN | CMC | Reddit