How To Create A Stripe Account For Non US Residents Without SSN [2024 Updated]

In this article, we’re going to show you how to set up a Stripe account if you’re not from the United States. Stripe is a popular and trusted payment gateway used by businesses worldwide.

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Many businesses, big and small, use Stripe to handle payments from all over the world. No matter what kind of business you have, having a Stripe account is crucial if you want to accept payments from customers internationally.

Before we get into the steps to create a US Stripe account for non-US residents, let’s tackle some common questions about this process.

What Is A US Stripe Account?

A US Stripe account is one that’s officially registered in the United States. To get this kind of account, you must be a US citizen or resident, and your account needs a valid Employer Identification Number (EIN) or a similar tax ID. You’ll also need a bank account based in the US.

Having a US Stripe account has its advantages. First, it lets you easily accept payments from customers in the US and globally. Second, you get access to Stripe’s useful features like fraud protection and analytics tools. Third, it helps you follow US regulations.

So, if you’re a US citizen or resident looking to accept payments from US customers, consider getting a US Stripe account.

Advantages Of Having A US Stripe Account

1. Accept Payments from US Customers: With a US Stripe account, you can accept payments from customers in the United States and from other countries using various methods, including credit cards, debit cards, and PayPal.

2. Access to Stripe’s Features: Stripe offers many tools to help businesses grow, such as fraud protection, advanced analytics, and customizable checkout pages. You get full access to these features with a US Stripe account.

3. Compliance with US Regulations: Stripe is a secure payment processor that complies with PCI DSS standards, ensuring the safety of your customers’ data. It also helps you follow other important US regulations, such as tax and anti-money laundering requirements.

If you’re interested in getting a US Stripe account, keep reading. This article will guide non-US residents through the process of opening one.

Can Non-US Citizens Use Stripe?

Yes, non-US citizens can use Stripe, but they need to meet certain requirements:

1. Incorporate Your Business in a Supported Country: To use Stripe as a non-US citizen, you must have a business legally incorporated in the country where Stripe operates.
2. Have a Valid EIN or Equivalent Tax ID: You’ll need an Employer Identification Number (EIN) or a similar tax ID from your country’s tax authority.
3. Maintain a Local Bank Account: It’s essential to have a bank account in the country where your business is registered for processing transactions with Stripe.
4. Documentation Verification: Stripe might ask for documents to verify your business and its owners to meet their security and regulatory standards.

Once you’ve met these prerequisites, non-US citizens can create a Stripe account and start accepting payments from customers worldwide. If you’re a non-US resident interested in using Stripe, keep reading this article for a comprehensive guide.

How To Get A US Stripe Account?

To get a US Stripe account, you must meet specific requirements, including:

1. Get a Valid EIN (Employer Identification Number) or Equivalent Tax ID: Stripe requires all US accounts to have a valid EIN or a similar tax identification number.
2. Maintain a US Bank Account: You must have an active US-based bank account as part of Stripe’s US account requirements.
3. Provide Identity and Business Verification Documents: Stripe will ask for documentation to verify your identity and business, such as copies of your driver’s license, passport, or relevant business registration paperwork.

Once you’ve fulfilled these requirements, you can proceed to create a US Stripe account and start accepting payments from US customers. This article will walk you through the process step by step, so make sure to read it all for detailed guidance.

How To Create A Stripe Account For Non-US Residents

Requirements for Using a US Stripe Account as a Non-Resident

To set up and use a Stripe account as a non-US citizen, you need to establish a US-based company, specifically an LLC (Limited Liability Company).

You might wonder why you can’t use a company registered in your own country. The reason is that the necessary documents for creating a Stripe account usually aren’t available or applicable in your country.

Forming an LLC in the US is a relatively simple process with minimal paperwork. Key requirements include obtaining an EIN (Employer Identification Number) or Tax ID, having a US physical address, getting a US phone number, and setting up a US bank account.

Acquiring these essentials isn’t too complicated. In the following steps, we’ll guide you on how to obtain them easily so you can use Stripe as a non-US resident.

Before you start the LLC formation process, you’ll need these prerequisites in place: a US physical address, a US phone number, and a US bank account.

How To Get A US Physical Address

Getting a US physical address is straightforward and can be done for free without needing local connections or someone else’s address. Go to Shipito.com to begin the process of getting a US address. During this process, you’ll be provided with an address in California (CA).

How To Get A US Phone Number

Getting a US phone number usually isn’t free unless you have a trusted contact in the United States. However, there are convenient methods to obtain one. Download the Dingtone app from your app store. This app lets you create a working US phone number, providing a reliable solution. Alternatively, you can also use Skype as another option.

How To Get A US Bank Account

Payoneer is a financial services company that provides businesses and freelancers with payment solutions, including US bank accounts. To create a US bank account with Payoneer, sign up for an account and verify your identity.

Once verified, you can open a US bank account in minutes. Your US bank account will have a unique account number and routing number, just like any other US bank account.

Once you have a US address, phone number, and bank account, you can move on to the next step, which involves forming your LLC.

It’s important to note that LLC formation comes with some expenses. Just like registering a business name or company in your home country, forming an LLC incurs costs.

If you were to hire a lawyer to help with LLC registration, it could cost around $1000. However, in this guide, we’ll show you the most cost-effective and straightforward method to establish your LLC.

Before we dive into the LLC formation process, we’ll explain briefly what an LLC is, so you can better understand this business structure and make informed decisions about your investment.

What Is An LLC?

An LLC, which stands for “limited liability company,” is sometimes called a “limited liability partnership.”

An LLC is a specific type of business structure that provides the unique advantage of limited legal liability for its owners. This means that individuals who own or operate an LLC are protected from personal liability concerning the company’s actions and debts.

Choosing an LLC can be an excellent decision if you want to start your own business while keeping a clear separation between your personal assets and your business’s assets.

While the main purpose of forming an LLC in this context is to enable the opening of a Stripe account for non-US residents, it’s essential to understand that an LLC offers additional benefits for your business.

We mentioned earlier that getting an EIN (Employer Identification Number) is one of the prerequisites for using a US Stripe account in foreign countries. This component plays a significant role in ensuring your LLC functions properly for this purpose.

What Is EIN?

EIN, or Employer Identification Number, is a unique nine-digit identifier crucial for your business operations.

In practical terms, an EIN serves a similar purpose to an SSN (Social Security Number) for individuals. However, the EIN is specifically used by the Internal Revenue Service (IRS) to monitor and track your business’s tax-related activities.

It’s important to clarify that obtaining an EIN shouldn’t be a cause for concern about heavy tax obligations. You can reduce your tax burdens by registering your LLC in a state that offers tax advantages.

Certain states within the US provide the opportunity to establish an LLC at a low cost and without imposing annual tax fees, making it more cost-effective to run your business.

The Cheapest States For Establishing An LLC

If you’re interested in finding out which states offer budget-friendly options for forming an LLC, here are some states known for their low state filing fees and minimal annual tax obligations.

1. Mississippi
   Filing fee: $50
   Annual tax fee: $0
2. Missouri
   Filing fee: $50
   Annual tax fee: $0
3. New Mexico
   Filing fee: $50
   Annual tax fee: $0

The state filing fee is a one-time charge imposed by the state for creating a new business entity. In contrast, the annual tax fee represents an ongoing tax obligation that must be paid to the state government each year.

The specific amount you pay in annual tax fees varies depending on your business entity type, and for LLCs, it’s typically determined by factors like the number of members and company profits.

Understanding these terms helps you appreciate what you’re paying for and why these expenses are necessary for LLC formation, whether you’re doing it independently or with professional assistance.

If you want to minimize your annual tax liabilities, you might consider selecting a state like Mississippi, Missouri, or New Mexico. Keep in mind that regulations can change over time, so it’s a good idea to check the most current information when you proceed with your LLC registration.

Now that you have all the requirements in place, including a US phone number and address, you’re ready to start the process of registering your LLC.

Forming an LLC can be quite costly. If you do it on your own or hire an accountant, it could set you back as much as $1,000 or even more. There’s a more affordable and dependable option — you can do it for less than $500, and in some states with lower fees, it might even be under $300.

The quickest and most efficient way to set up a US LLC from your home country is by using an LLC formation service. In this guide, we’ll be recommending a reliable and trusted provider for this service, which is Bizee (formerly Incfile). It’s very cost-effective to form your LLC with Bizee.

The company used to be known as Incfile just in case you want to check Google or YouTube for reviews. They have over 17,000 reviews on Trustpilot with a 4.7-star rating. This is a very good indication that the company is very reliable.

With this, let’s proceed to show you how to form an LLC from your home country. We have blocked all personal information in this guide such as names, home address, phone number, personal email, and LLC name. Add your accurate information accordingly.

Follow These Steps To Form Your LLC

Step 1. Visit the Bizee website. Click on Form your LLC now.

Step 2. Select an entity and state.

Select LLC and choose New Mexico if you want a cheap state. Choose the Gold package.

Step 3. Fill in your contact information. This is the US address gotten from Shipito. You should add a working US phone number from dingtone or anywhere else.

Step 4. Confirm your address. Choose use entered.

Step 5. Choose the state filing time.

Step 6. Fill in the company information.

Step 7. You can skip the premium service package.

Step 8. Provide members information. Choose individual

Step 9. Choose Bizee as your registered agent.

Step 10. Indicate that you’re not a citizen of the United States.

Step 11. Indicate that you’re a foreigner and do not have a social security number.

Step 12. If you don’t need this, you can skip it. Click on Ask Me Later.

Step 13. Since the tax strategy/free consultation is free, you can choose it.

Step 14. For the business licenses and permits, choose no, I’ll do the work myself.

Step 15. Review your order. Make sure all information is correct.

Step 16. Make your payment. You can use a debit or PayPal.

As you can see, the process is far cheaper than Stripe Atlas which costs $500 to set up a Stripe account. With this procedure, you’re only spending $278.

By following these steps, non-US residents can easily initiate the process of opening a Stripe account.

You’re one step done in opening a US Stripe account but you cannot proceed at this moment to create the account.

Your details will be processed, and within a few weeks, you’ll receive your EIN, a crucial requirement for creating a Stripe account.

You are now on the verge of setting up a verified Stripe account as a non-US resident. However, before proceeding, it’s essential to open your U.S. bank account.

Let’s assume, that you’ve gotten the EIN, then you can proceed to the next step which is to create your Stripe account in an unsupported country.

Steps To Create A Stripe Account For Non-US Residents

Follow these steps closely. All the personal details have been blocked. You should add your own details.

Step 1. https://dashboard.stripe.com/register. Enter your email, and full name, and select the United States as your country. Click on Create Account.

Step 2. Check your email. Click on verify email address.

Step 3. Click on activate payments.

Step 4. The business location should be the United States. The type of business should be a company and the business structure should be a Single-member LLC. Click on continue.

Step 5. Under tell us about your business, you should fill in your legal business name should be your LLC name. Enter your EIN. Your Registered business address should be your Registered business address from Bizee. Add your industry, business website, and product description.

Step 6. Under verify your personal details, enter your real name (used in your LLC details), email address, and date of birth. Choose your home country and add all your location address and phone number. The phone number should be your home country phone number. Click choose to provide a government-issued ID number. Enter your ID number from the government. Click on continue.

Step 7. Under describe how you fulfill your orders, choose any duration. Make sure it is something feasible.

Step 8. Under the add public details for customers, the statement descriptor is the text that appears on your customer’s bank statements. It’s important to make it clear and concise so that your customers know what the charge is for. You can include your business name and legal structure in the statement descriptor, but you may want to shorten it for the shortened descriptor.

Step 9. You should add your bank account. If you search and can’t find your bank account, then you should add it manually. You can only add a US bank account.

Step 10. Stripe requires that you add 2-factor authentication to your account so you have to choose any of the three options.

You can use an authenticator app like Authy.

Click on continue

Step 11. Under automate sales tax calculations, you can click no thanks.

Step 12. Under show customers climate commitment, you can click on no thanks.

Step 13. Review and finish up is the final stage. Cross-check that you have entered all the correct details in each of the sections. If you’re very sure that the details are correct, you can click on agree & submit.

Stripe may need to verify your identity or business information. If they are unable to do so automatically, they will send you an email asking for proof of certain details. Please check your email regularly and respond to any requests from Stripe promptly.

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