This is a guide that you can find answers to any kind of question that you may have. Let’s start our journey to creating and verifying an account on Stripe, the most preferred payment gateway.
Deal alert! Our favorite company, Northwest, is forming LLCs for $39 (60% off!)
Every entrepreneur needs a payment gateway like Stripe to start an e-commerce business. However, the countries that are supported by Stripe are limited. The solution is possible if you can meet every condition required by Stripe
How does Stripe accept when an account is created from an unsupported country?
To make this possible, looking at the FAQ documents is enough. They explain their needs clearly. Stripe says;
Everything is clear above. To create a Stripe account, the country should support Stripe. Since the USA is on the list of supported countries, if you start a LLC there, the problem will be solved.
To start an LLC in the USA for a reasonable price, the first thing you need to do is incorporate Northwest into the state of New Mexico. Otherwise, Stripe may suspend your account. The safest way to set up an LLC is to hire a Registered Agent based in the USA.
With the special discount we got from Northwest, you can form an LLC for very cheap by paying $39 + state fee.
You should meet the requirements below after form your LLC
The Requirements to Create an Account from a Different Country
- The Tax ID in the country that you want to establish your company (EIN can be gotten from IRS after incorporation of the company.)
- A physical place address in that country that you can receive mail. (They accept Northwest’s free mailind address)
- An ID, passport, or driver’s license that given by the government
- A website that completed, and complies with the terms and conditions of Stripe
- The currency that is used in that country and a physical bank account. Mercury or Wise Business is accepted.
1. Form an LLC in the USA
To open a verified Stripe account, you must first create an LLC. The best US state for this is New Mexico. With Northwest you can form one LLC for $39 + $50 NM state fee, for a total of $89.
2. LLC Articles of Organization (New Mexico LLC)
After forming an LLC in the state of New Mexico with the Northwest Registered Agent, download your Articles Of Organization from the Northwest client portal
3. Get Your EIN
After your LLC is formed, you need to apply for an EIN. Complete your SS4 form and obtain an EIN for your LLC from the IRS. Here is a guide on how to do it.
4. A Website That is Completed, and Complies with the Terms and Conditions
Create a website that complies with Stripe’s terms and conditions. All content should be complete and look very corporate. About us page, refund conditions page and contact page must be complete.
5. A US Bank Account
Creating a Stripe Account
Go to dashboard.stripe.com/register and fill out the form.
Choose the country where your company is located.
Write down your company e-mail address, name, and surname. Select the United States and create a password. Create your account by agreeing on the terms.
Complete your e-mail activation.
Now, you can create your business account.
In order to do it, click on New Account from the top left, and write your company name
After creating a new account for your company, click on the “Activate Your Account” on the left side.
After choosing the registered business address and business structure, continue.
You can enter the free mailing address provided by Northwest in the address section. There’s nothing wrong with that.
In this step, you have to be sure that you are giving the right and full information.
You can continue to the next step after writing your legal business name, EIN, industry, business website, and a brief product description.
Fill out every form from the left side.
You can fill out the bank account information part with your Mercury Bank or Wise Business information.
After everything is done, you will have a verified Stripe account.
You can see the tax information is verified in the screenshot below.
Please test it before on the test mode. Then go to live mode and get the API and secret key and complete the integration process of your website.
You can ask your questions about opening a Stripe account and forming an LLC in the comments section.