Legal, Tax, and Accounting August 31, 2020

What Stripe Atlas alternative can I use to register my company and accept payments with Stripe?

DapoAscend

Hi folks,

I’ve always wanted to be able to receive payments for my services by using Stripe, because of this I incorporated my company in Delaware, USA by using Stripe Atlas. I initiated the process and incorporated 3 months ago, since then I have not been able to receive the EIN which has to be used to set up the Stripe Account.

The feedback from Stripe Atlas is that IRS is not processing the EIN of founders who do not have Social Security Number (SSN). I don’t live in USA and have no SSN. Also I’m the only founder in my company hence I don’t have a co-founder with SSN. Not having Stripe payment is making it hard for me to receive payments from some of my clients.

I don’t have access to Stripe or Paypal in my country and I want to open a Stripe account in a country different than my primary business country.
My question: In which country can I register my business apart from the USA, that will enable my business have a Tax Id, open a bank account and register with Stripe?

The factors I’m looking at

  1. Low Taxes
  2. Affordable Cost of registration
  3. Ability to have a remote physical address for business

TL:DR - Which country or business registration services will you recommend to enable me register my business and have access to Stripe for receiving payments?

I will appreciate your contributions. Thanks.

  1. 1

    Hey @DapoAscend, sorry about this. COVID has made a mess of how IRS normally processes EINs. We're working with them to fix this (and expediting the initial EIN application flow). Could you send me an email at [email protected] and I can help get this sorted?

  2. 1

    Checkout dunster, the founder @jesse_ac is an indie hacker and will be able help you.

    Btw, which country are you from? If there are no payment gateways, then that itself would be a promising problem to solve. Also YC most certainly takes in 'Stripe like' startups from developing economies e.g. Razorpay (IN), Safepay (PK) etc.

    1. 1

      Thanks @Abishek_Muthian for keeping me in the loop. Yes, we can assist obtaining your EIN in 24 to 48 hours, even if you don't have an SSN and living outside the US. We have a direct partnership with IRS specialists. @DapoAscend

  3. 0

    You can use Clerky. Or just google delaware corp registration and you will find plenty of offerings. You don't need a SSN to start a US based corp. However state laws may be different.

    1. 1

      Thanks, I want to call IRS first based on @jmstfv's advice, afterwards I will proceed with the next course of action.

  4. 0

    I initiated the process and incorporated 3 months ago, since then I have not been able to receive the EIN which has to be used to set up the Stripe Account.

    Have you called IRS? I had the same problem back in February/March 2019 (during the government shutdown), so I had to give them a call. The IRS is currently backlogged, but they will eventually get you your EIN. Some folks on the Stripe Atlas forum managed to get their EINs recently (you have to be logged-in to access the thread).

    Incorporating with another service will only exacerbate your problem. You've already started the incorporation process, so at the very least you're liable for the Delaware Franchise Tax, Registered Agent fee, and Federal Tax Reports (Form 1120 and 5472, at the very least). Check the sister topic for more information.

    1. 1

      Thanks, I'm checking out the links now. I will reach out to the IRS.

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