Survey methodology
Distributed via Twitter, Reddit r/Entrepreneur and r/digitalnomad, Indie Hackers community, and our newsletter. 500 responses collected over 60 days. Anonymized. Self-reported (we did not verify). Filtered for non-resident LLC founders who actually applied to Mercury (vs read about it but did not apply).
External vs internal comparison
- UK: 92% external vs 95% internal. $WyomingLLC customers ~3% higher (we coach the application).
- Germany: 88% external vs 90% internal.
- India: 78% external vs 75% internal. Small lift externally (sample bias?).
- Pakistan: 58% external vs 60% internal.
- Bangladesh: 62% external vs 65% internal.
- Nigeria: 32% external vs 35% internal.
- Brazil: 73% external vs 75% internal.
What the external sample tells us
Country profile is the dominant variable. Country-by-country approval rates are similar across both samples. Application coaching adds ~3-5% lift. Outside coaching, approval depends on raw country profile and business description quality.
Top rejection causes in external sample
- Vague business description (41%)
- Restricted category (18%)
- Document inconsistencies (15%)
- Country profile (12%)
- Source of funds documentation (8%)
- Other (6%)
Why this matters
Validates our internal claims. External founders see similar outcomes. Most non-resident founders should expect their country's baseline approval rate ±5% based on application quality.