Legal, Tax, & Accounting January 21, 2020

Stripe Atlas alternatives?

Ding Yu @felixding

Stripe Atlas looks really nice but it has a few drawbacks in our case:

  1. We want to incorporate as a LLC in Delaware. But Stripe Atlas can only do C Corporation for us, as we are not US citizens and nor do we live in the US.
  2. Stripe Atlas can't open a bank account and do not offer their payments products to us, because we want to start with our domestic market first whereas Stripe "are currently restricted to supporting businesses that primarily serve US, and not local, customers" (from their support).

They kindly suggested that they could do the incorporation part and recommended some other companies for bank accounts and payments. It's a nice move for them but then why should I go with Stripe Atlas at all? I had previously incorporated an offshore company and found the hardest part is to open a bank account. I wished Stripe Atlas could be a one-stop solution.

How did you incorporate your business in Delaware as a non US citizen and residence? Any advice?

  1. 2

    Hi Ding!

    Check out Https://blook.io/stripe-atlas-alternative for some of the differences :)

    1. 1

      Thanks. Looks nice. Any difference from Firstbsae?

      1. 1

        Yes, mainly less expensive and a more personal experience

  2. 2

    You can look https://firstbase.io or https://blook.io as an Atlas alternatives

    1. 2

      Thanks! Have you used any of them? How are they?

      1. 2

        I'm currently evaluating firstbase

  3. 1

    Why are you incorporating in the US?

  4. 1

    I'm curious why you want to incorporate in the US if you're primarily going to be focusing on your home market first. It seems like it might be extra work and cost if you're not going to be targeting the US at this point.

    1. 1

      We don't live in our home country, which makes incorporating and running the company in our home country much harder.

      Doesn't have to be the US. It's just incorporating and banking looks easier in the US with services like Stripe Atlas.