Opening N26 & Stripe Account in Germany - But not really a resident?

banking
germany
malta
(Hipply Heep) #1

Hey guys!

I have a question regarding opening a N26 bank account and Stripe account in Germany.

So my friend lives in Germany, and allowed me to use his address to open a N26 bank account. I am a EU citizen (Polish) so everything is fine. I am currently residing in Malta.
Got my card, and my account is verified and everything is well.

I needed to open a Stripe account in EU currency (to charge my clients for services easily) but it was unavailable in Poland & Malta yet to do so, so I opened one in Germany, and used my friend’s address as well, and verified my ‘residence’ with the N26 bank statement.

All is good, and I have set up Stripe to send the funds which I collect from my clients to my N26 account. I am trying a payment now for the amount of 100 euros to see how it goes. It’s still on hold, which I guess is normal since it’s the first transaction, so hoping all will go smoothly!

I am just worried about this setup, because it seems like my Stripe account is locked to Germany now and I cannot change the country of ‘residence’, without contacting Stripe and asking them. I am scared to do so, because this seems like the only way for me to easily setup payments for my clients!

More-over, if they actually had the country of residence which I am in (Malta, or Poland) I would switch it, but alas they do not!

Is there anything bad about how I set everything up? Will Stripe close my account or ask me anything when tax season comes? I actually have NO TIES to Germany at all, so I am just scared to start operating in this manner and then get into trouble. I also don’t want to get my friend who’s address I used into trouble.

Anyone have any similar experience? Or any advice?

Most of my clients are in Canada and others in the EU and Dubai if that helps. I want to start charging everyone Euro directly in Stripe and then just get the money to me through a bank account :slight_smile: The less I have to pay in fees and conversions - the better!

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(keu) #2

Same wondering about setting a business in EU without be resident there…
I guess a safer option - not to have your account closed at anytime would be to open a legal business in Germany with all the Doc that it implies + EU Tax next…
On the other hand reading about lowest Tax business in the World I think Dubai is among the lowest ones, so why not register a business there and see how you could link a payment solution for Euros, etc… from this country ?
my 2 cents…but probably what I will investigate further to beable to work with EU clients/Neo Banks too…if possible

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