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Max Marty, Blueseed CEO & co-founder, on the Blueseed Project and launching startups in international waters.
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-- not because of the Silicon Valley it is not a cruise ship it is an entire community.
Of start up tech companies since the US only gives out so many work -- -- says.
A lot orders with start ups are sent packing -- -- is an enormous ship and it will be can.
We floating in international waters.
Set -- foreigners can launch their companies without having to worry about those pesky work -- joining me now out of Fox Business exclusive is bluesy CEO co-founder.
Max Martin -- I gotta say I salute you this is a genius idea.
Do you get around -- -- -- problem what does.
Well entrepreneurs had pretty serious -- a problem which is that there is no Visa that allows them to to be here and to create a start up a high tech company.
So by being twelve miles out just outside of the US is international -- -- -- in the US is international waters.
We don't we don't have to deal with the US -- Visa restrictions.
It eats genius.
And it's -- have to leave out there I mean how exactly do you get around the -- I know public companies that have their meetings and international waters.
So they don't have to pay US tax I mean this is.
It's a new idea in terms of startups and they do they live on the -- Yeah yes so when your twelve miles off the coast you are the law says that you can.
Do whatever you need to do out there in terms of running a company you're starting up etc.
you don't need that these so you would live on the boat and work on the start up.
And then come in and out of the country on a travel -- are such an order to be able to.
Talk to people and to meet with people here in Silicon Valley since you have to pay to US tax like hearing -- Yes if you are a US citizen.
You have to pay tax no matter where you generate that income anywhere in the world.
And if you're US company.
You also have to of course abide by the tax regulations of the United States.
So what you do this instead of being like just over the border in Canada.
Or being in Bermuda on the other coast I mean it does seem liked -- it's genius but it's a little bit inconvenient.
Right so being in Silicon Valley is incredibly important for high tech startups in particular.
This is a great place to sort of clincher roots as a high tech company.
And be able to grow into the next Facebook's in -- -- Create all those jobs all that innovation -- -- technology this is where you wanna do it there really is no place in the world like Silicon Valley.
If you have that dream and aspiration.
-- and so we are.
Creating this place right near Silicon Valley so that people have the ability to come in and out and and -- -- a lot of the magic that helps those companies to grow.
And once -- large enough to everything we can to help them to make the transition on to land.
So is it already floating and what's -- -- like.
So we're not in the water yet we're still in the fund raising stages.
But so far we have about 300 companies that are looking to come on board from 58 different countries all around the world.
And they're looking to be on boards about two or three founders are company in about 300 of those.
And then of course there and their ultimate goal is to.
Grow large enough become substantial enough that they can get the properties has to move into the country what's the cost.
-- 16100 dollars per person per month and that gets you office space and residential.
Living space.
But the more interesting part is that we take a small portion of equity and all of the companies that locate on or around six and a half percent.
So that sort of alliance are incentives with there is our goal is to help them to scale and succeed.
And that help them to make the transition on land because if they do that they'll eventually have some sort of liquidity event etc.
-- we make money as well.
Very clever you have to keep us posted any company that is innovative enough to legally stick it to the government I love that so keep us posted thanks so much for coming on.
Thanks thanks for --
