EU Inc - Make distinction between executive board members and non-executive.

If you are a EU startup with 2 founders and you raise 3 rounds with 3 US-based investors from outside your base country then you have a majority of board members outside your home country.

In theory, this means that decisions are taken in the US and it forces them to get on a plane to have the board meeting in person.

This can easily be avoided by restricting the “mind and management” rule to only executive board members.