Paul GrahamVerified account

It does, but it varies from country to country. Relatively straightforward in the UK, more complex elsewhere in Europe.

Thanks Jeff Would a safe be eis compliant? And any important reason to choose safe over ASA?

As you see from the comments it’s not straight forward but of course there is a way. The idea is to use a SAFE with very standard adjustments depending on country and maybe translation. I need to do more homework ...

In Denmark, we have a "Danish equivalent" called a Hatch document, I've used it both to fundraise and to invest with.

A common solution is to flip to a delaware topco and just use a vanilla SAFE (most of the growth funds at Series B+ will favour this kind of structure in any-case and it makes hiring US employees easier)

Good point re hiring in the US. It’s nice to be able to solve for that early on. I have had a nightmare with US options in the past.

We ported the SAFE in Italy at the beginning of 2015. But the italian rules do not allow to fund a company without saying the equity value in case of bankruptcy, which is one of the goal of SAFE: not evaluate a startup at the beginning of its lifecycle.