What should I do if Stripe is not available in my country?

Why Stripe and in which countries is it available?

Reasons for choosing Stripe

1. Comprehensive payment options Stripe accepts a variety of payment methods including credit and debit cards (worldwide), Apple Pay, Google Pay and more. This diversity allows businesses to offer their customers a convenient and flexible payment experience.
2. International presence
   Stripe is available in over 40 countries, including the US, Canada, the UK, Germany, Australia and many more. This global presence allows companies to expand across borders and reach customers worldwide.
3. User-friendly integration Stripe offers a user-friendly API and numerous plugins for e-commerce platforms such as Shopify, WooCommerce and Magento. This facilitates the seamless integration of Stripe into existing websites and online stores.
4. Attractive pricing Stripe is characterized by fair and transparent pricing. There are no monthly fees or set-up costs. Instead, a small transaction fee of around 2.9% plus a small fixed fee per successful payment is charged.
5. Solid security measures Stripe attaches great importance to security and Data protection. It meets the strictest industry standards such as PCI compliance and uses advanced fraud detection systems to prevent fraud.

What should I do if Stripe is not available in my own country?

Step 1: Establishing a US company with a registered agent

By forming an LLC (Limited Liability Company) in states such as Wyoming, New Mexico, Nevada or Delaware foreign entrepreneurs can obtain access to US banking services. A registered agent serves as the official address for the company.

Step 2: Obtaining an EIN (Employer Identification Number)

Once the US company is incorporated, you can apply for an EIN with the Internal Revenue Service (IRS). The EIN serves as Tax number for your company.

Step 3: Opening a US bank account

With the EIN, you can open a US bank account with an online bank. This will provide you with a US bank account, which is required to create a Stripe account.

Step 4: Register with Stripe

Once you have a US bank account and an EIN, you can easily sign up with Stripe and use the payment processor's services to accept payments from customers worldwide.

Exceptions

There are some countries whose citizens are not allowed to use a Founding a company in the USA and register. Here is a list of countries that are subject to these restrictions:

• Cuba
• Iran
• North Korea
• Syria
• Russia (since 2022 due to sanctions in connection with the war in Ukraine)
• Sudan
• Crimean territory of Ukraine

It is extremely difficult or even impossible for citizens of these countries to open a company registration or a bank account in the USA. The reasons for this are mainly sanctions and embargo regulations imposed by the US government on these countries.

There may be a few additional countries with similar restrictions, but the above are the main countries to which restrictions apply. For nationals of all other countries, it is generally possible to obtain a Companies in the USA as long as the necessary steps are carried out correctly.

Advantages of this solution

By taking these steps, foreign entrepreneurs can gain access to Stripe's cost-effective and user-friendly services despite the restrictions in their own countries. At the same time, they benefit from several attractive tax advantages of a US corporate structure:

1. No corporate and business tax for foreign companies and company founders in states like Wyoming, New MexicoNevada etc.
2. No state income taxes as a rule.
3. No reporting obligations on the use of company funds.
4. Exemption from the payment of VAT, as the USA does not participate in the Automatic Exchange of Information (AEOI) of the OECD. This makes financial management easier.
5. Liberal regulation for foreign companies in these states.
6. Very low Annual costs of less than 200 - 350 USD for annual financial statements, etc.

Due to the non-participation of the USA in the common reporting standard (AEOI) of the OECD eliminates the need to pay VAT. This greatly simplifies financial administration and reporting for foreign companies. Together with the lack of corporate, business and income tax in certain states and business-friendly regulation at minimal cost, entrepreneurs can optimally expand their business to international markets.