Getting access to Stripe is one of the main reasons international entrepreneurs form US LLCs. Stripe is the world's best payment processor, but it's only available in select countries ā and if you're not in one of them, you're out of luck.
Unless you have a US LLC.
With a US LLC, EIN, and US bank account, you can set up Stripe regardless of where you live. This guide walks you through the complete process, from requirements to going live.
š Table of Contents
Why Stripe for International Businesses?
What Makes Stripe Special
Stripe has become the gold standard for online payments because:
- Best Rates: 2.9% + $0.30 per transaction (lowest in industry)
- Global Reach: Accept payments from 135+ currencies
- Developer-Friendly: Best API and documentation
- Fast Deposits: Money in your bank in 2 days
- Built-in Fraud Protection: Machine learning prevents chargebacks
- Subscriptions: Automatic recurring billing
- No Setup Fees: $0 monthly fees, only pay per transaction
Stripe vs Alternatives
| Processor | Transaction Fee | Monthly Fee | International |
|---|---|---|---|
| Stripe | 2.9% + $0.30 | $0 | ā Excellent |
| PayPal | 3.49% + $0.49 | $0 | ā ļø Higher fees |
| Square | 2.9% + $0.30 | $0 | ā ļø Limited |
| Authorize.net | 2.9% + $0.30 | $25 | ā Complex setup |
What You Need Before Starting
ā Requirements Checklist
- US LLC: Active LLC in any US state (Wyoming, Delaware, etc.)
- EIN: Your Employer Identification Number from the IRS
- US Bank Account: Mercury, Wise, or another US bank account
- Valid Passport: Government-issued ID from any country
- Business Website/App: Live website describing your business
- Phone Number: Can be your home country number
- Email Address: Business email (can be Gmail, etc.)
Don't Apply Without These
Stripe will reject your application if you're missing any requirements. Make sure you have your US LLC formed, EIN obtained, and US bank account opened before starting the Stripe application.
Complete Stripe Setup Process
1 Create Your Stripe Account
- Go to stripe.com
- Click "Start now" or "Sign up"
- Enter your email address
- Create a strong password
- Verify your email (check inbox for verification link)
2 Enter Business Information
Company Details:
- Business Type: Select "Limited Liability Company (LLC)"
- Business Name: Your LLC's legal name (exactly as on formation docs)
- Doing Business As: Your brand name (if different from legal name)
- Business Website: Your website URL (must be live and working)
- Industry: Select the category that best describes your business
- Product Description: Clearly describe what you sell (be specific)
Business Address:
- Use your registered agent address (required to be US address)
- Or use your virtual office address
- Never use a fake or PO Box address
Website Requirement
Stripe requires a functioning website. It doesn't need to be fancy, but it must:
- ā Clearly describe your business/products
- ā Include contact information
- ā Have terms of service and privacy policy
- ā Look professional (not spammy)
- ā Be accessible to the public
3 Enter Tax Information
Tax ID (EIN):
- Select "Employer Identification Number (EIN)"
- Enter your 9-digit EIN: XX-XXXXXXX
- Do NOT select SSN or ITIN
Tax Classification:
- Select "Single-member LLC" or "Multi-member LLC"
- This determines how Stripe reports to the IRS
4 Add Personal Information (Representative)
Stripe needs details about the LLC owner/representative:
- Full Legal Name: As appears on passport
- Date of Birth: MM/DD/YYYY format
- Home Address: Your actual residential address (can be outside US)
- Phone Number: Can be international number
- Email: Personal or business email
- Title: Usually "Owner" or "Member"
- Ownership Percentage: Your % ownership in the LLC
Identity Verification
5 Verify Your Identity
Stripe will ask you to verify your identity using your passport:
Verification Process:
- Select "Passport" as your ID type
- Upload a clear photo of your passport (data page)
- Take a selfie for identity confirmation
- Wait 1-24 hours for automated verification
Photo Requirements:
- ā Clear, well-lit photo
- ā All text must be readable
- ā No glare or shadows
- ā Full passport page visible
- ā No screenshots or photocopies
Verification Tips
- Use your phone camera (not a scanner)
- Natural lighting works best
- Make sure your selfie matches your passport photo
- Remove glasses if they create glare
- If rejected, try again with better photos
Linking Your US Bank Account
6 Connect Your Bank Account
This is where Stripe will deposit your earnings:
Bank Account Details:
- Routing Number: 9-digit bank routing number
- Account Number: Your checking account number
- Account Holder Name: Must match your LLC name exactly
Supported Banks:
- ā Mercury (most common)
- ā Wise Business (works great)
- ā Relay
- ā Traditional US banks (Bank of America, Chase, etc.)
Mercury + Stripe Integration
If you're using Mercury, they have a direct integration with Stripe that makes setup even easier. You can connect your Mercury account with one click from your Mercury dashboard.
7 Verify Bank Account
Stripe will send 2 small test deposits (usually $0.01 each) to your bank account:
- Wait 1-2 business days for deposits to arrive
- Check your bank statement for the exact amounts
- Return to Stripe and enter the two amounts
- Your bank account is now verified!
Alternative: Some banks (like Mercury) allow instant verification without test deposits.
Common Issues & Solutions
Issue: "We can't verify your identity"
Solutions:
- Retake passport photo with better lighting
- Make sure passport hasn't expired
- Try uploading from a different device
- Contact Stripe support with your passport and LLC docs
Issue: "We need an SSN"
Solution:
- Select "I don't have an SSN"
- Choose "EIN" instead as your tax identifier
- If system still requires SSN, contact Stripe support explaining you're a foreign LLC owner
Issue: "Your business address must be in the US"
Solution:
- Use your registered agent address for business address
- Use your real foreign address for personal address
- These are two different fields - don't confuse them
Issue: "We need more information about your business"
Solution:
- Provide a clear description of what you sell
- Share screenshots of your product/service
- Explain your business model in detail
- Show proof of legitimate business operations
Issue: "Your website doesn't meet our requirements"
Solution:
- Add detailed product/service descriptions
- Include clear contact information
- Add terms of service and privacy policy pages
- Make sure website is fully functional (no "under construction")
- Remove any spammy or low-quality content
Account Holds
Stripe may place a hold on your account if:
- High-risk industry (crypto, gambling, adult content)
- Sudden spike in transaction volume
- High chargeback rate
- Suspicious activity patterns
Prevention: Be transparent, start with small volumes, maintain low chargebacks, respond quickly to Stripe inquiries.
Going Live & Testing
Test Mode vs Live Mode
Stripe has two modes:
Test Mode:
- No real money processed
- Use test card numbers (4242 4242 4242 4242)
- Perfect for development and testing
- Unlimited test transactions
Live Mode:
- Real money is processed
- Real customer credit cards
- Money deposited to your bank account
- You're charged the 2.9% + $0.30 fee
Activating Your Account
Once you complete all steps:
- Stripe reviews your application (usually 24-48 hours)
- You receive email notification of approval
- Your account is automatically activated for live payments
- You can now accept real customer payments!
Testing Your Setup
Test Payment Checklist
- Switch to Test Mode (toggle in Stripe dashboard)
- Create a test payment link or use your website
- Use test card: 4242 4242 4242 4242
- Expiry: Any future date (e.g., 12/26)
- CVC: Any 3 digits (e.g., 123)
- Verify payment appears in Stripe dashboard
- Test refund functionality
- Check webhook notifications (if using)
- Switch to Live Mode when ready
Your First Real Payment
What happens when a customer pays:
- Customer enters card details on your site
- Stripe processes payment (2-3 seconds)
- You see the payment immediately in Stripe dashboard
- Stripe holds funds for 2 days (fraud protection)
- Money automatically transfers to your bank account
- You receive email confirmation
Stripe Fees Breakdown
| Transaction Type | Fee | Example (on $100) |
|---|---|---|
| Standard Card Payment | 2.9% + $0.30 | $3.20 fee, you receive $96.80 |
| International Card | +1% extra | $4.20 fee, you receive $95.80 |
| Currency Conversion | +1% extra | $4.20 fee, you receive $95.80 |
| Refunds | Fees refunded | Full $100 returned to customer |
| Chargebacks | $15 fee | $15 + loss of sale |
Stripe Dashboard Overview
Key Dashboard Features:
- Home: Overview of payments, balance, and activity
- Payments: List of all transactions
- Customers: Manage customer database
- Subscriptions: Recurring billing management
- Products: Your products/services catalog
- Payouts: Bank transfer history
- Disputes: Handle chargebacks
- Developers: API keys, webhooks, testing
Best Practices
Tips for Success
- Clear Product Descriptions: Help Stripe understand your business
- Responsive Customer Support: Answer customer questions quickly
- Accurate Shipping Times: Set realistic expectations
- Clear Refund Policy: Display prominently on your site
- Monitor Dashboard Daily: Stay on top of transactions
- Keep Contact Info Updated: So Stripe can reach you
- Enable 2FA: Protect your account security
- Save API Keys Securely: Never expose them publicly
Preventing Chargebacks
- Use Stripe Radar (built-in fraud detection)
- Require CVV and postal code verification
- Send clear confirmation emails
- Provide tracking numbers for physical products
- Respond quickly to customer service inquiries
- Use clear billing descriptor (shows on customer's statement)
Timeline Summary
Expected Timeline
- Account Creation: 15-20 minutes
- Identity Verification: 1-24 hours
- Bank Account Verification: 1-2 days
- Application Review: 24-48 hours
- First Payout: 7-14 days after first payment
- Standard Payouts After: 2 days (rolling basis)
Frequently Asked Questions
Can I use Stripe without an SSN?
Yes. Use your LLC's EIN instead. Select "EIN" when asked for tax identification.
What if I don't have a website yet?
You need a live website to apply. Create a simple landing page with your business description, contact info, and terms before applying.
How long until I receive my first payout?
Your first payout takes 7-14 days. After that, payouts are automatic every 2 days.
Can I accept payments in multiple currencies?
Yes! Stripe supports 135+ currencies. Enable them in your dashboard settings.
What's the minimum/maximum payment?
Minimum: $0.50
Maximum: $999,999.99 per transaction
Is there a monthly fee?
No. Stripe charges $0 monthly fees. You only pay the 2.9% + $0.30 per transaction.
The Bottom Line
Setting up Stripe as a non-US resident with a US LLC is straightforward:
- ā Form your US LLC and get EIN
- ā Open US bank account (Mercury recommended)
- ā Create Stripe account with LLC details
- ā Verify identity with passport
- ā Link bank account
- ā Wait for approval (24-48 hours)
- ā Start accepting payments!
Timeline: 1-2 weeks from LLC formation to accepting payments
Cost: $0 setup fees, only 2.9% + $0.30 per transaction
Get Stripe-Ready in 7 Days
We help you set up everything needed for Stripe:
- ā US LLC formation (Wyoming or Delaware)
- ā EIN application assistance
- ā US bank account setup (Mercury)
- ā Stripe application guidance
- ā Complete compliance support
From formation to accepting payments in under 2 weeks.