Guys I’m currently based in the Middle East which has no stripe support and I need to accept payments via stripe and PayPal for my info product business.
Currently I have the option of setting up with stripe atlas in the US or someone also mentioned getting a e-residency in Estonia. Both of these options allow me to set up a bank account those respective countries without having to visit them.
Are these the best options out there? Am I missing something?
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Hey, Sam,
I have a company in Estonia as well as Stripe account there.
Estonia would be a fairly easy route IMO. Just make sure you add as much as possible of legitimacy to your business, IE have a good website, open an actual bank account (although not required), so you can get approved without an issue. I also recommend (at least for the first time) using a firm like Xolo which would add (a bit) to your legitimacy in front of the banks and Stripe.
Just remember, Stripe in Estonia doesn’t support US ACH transfers.
Also, Estonian services are generally cheaper (lawyers, accounting, etc) and a bit easier to do online (due to e-residency). I’ve never had personal experience with Atlas, but it seems like this is only half of the deal, and you’d need to take care of accounting as well.
End of the day, in regards to Estonia vs US, I think it depends on which countries are you actually looking to serve.
Good luck!
It is very dependent on the volume you have from different regions. UK is also good and cheap jurisdiction for setting up a company, as well to integrate to Stripe (no certified docs require. moreover, more reputable jurisdiction.
With a UK entity, you can also get a US account with a routing number so you can have one entity, 2 accounts to cover all of your business need.
Your best option would be a US LLC, you could easily get Stripe and Paypal with a US LLC and most important of all, 90% of the time, you could design the US LLC to be tax-free in the US so you only pay taxes at your home country.
3 points to add to this: 1) Xolo have a package of EUR119 p.m. which includes accounting services and Stripe & Paypal accounts. 2) Corporate tax in Estonia is on dividends drawn from the company. If profits are re-invested in the business, they are not taxed. 3) Salary is not taxed in Estonia, but in the country that you are tax-resident in. (If UAE, no tax)
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