[SkyAndSand]

While I generally agree I am wondering if this still applies if you have multiple founders in multiple countries.

Eg the founders are living in Germany, Australia and the US. The company is a German GmbH. You’d probably not automatically create PEs in Australia and the US just some of the founders living there?

[mishaker]

Yeah that would be yet more complicated. I think it depends on the tax treaties between these countries.