Wyoming, Delaware or New Mexico, please tell me what's your choice?

[JohnLocke]

If you don't depend on Stripe nor PayPal a US entity will do very well for the most of us, it works together with Transferwise in most cases and depending on the owner of the US entity.

 

[Marzio]

If you don't depend on Stripe nor PayPal

That's what i said. If you don't use those merchants then good for you. I only pointed out that you can't use anymore a US LLC to process payments using Stripe or PayPal and don't pay taxes.

 

[exprtadvisrdev]

Can I ask, what EMI do you use for this company or is it a real bank ?

I'm using Mercury with the debit card most of the time to pay for services and TW if I need to do an international transfer. I didn't try to open an account with a street bank since I knew it will be almost imposible to open one without going to the US

 

[JustAnotherNomad]

That's what i said. If you don't use those merchants then good for you. I only pointed out that you can't use anymore a US LLC to process payments using Stripe or PayPal and don't pay taxes.

There was recently a thread about using a c-Corp for banking and a disregarded entity LLC to suck out the profits from the c-Corp.
But I’m not sure if transfer pricing restrictions could be an issue.

 

[JohnLocke]

I'm using Mercury with the debit card most of the time to pay for services and TW if I need to do an international transfer. I didn't try to open an account with a street bank since I knew it will be almost imposible to open one without going to the US

Why Mercury, just as an second EMI or is there any particular reason for it?

 

[exprtadvisrdev]

Why Mercury, just as an second EMI or is there any particular reason for it?

The only reason is to save money, most of my clients have businesses accounts in the USA and they prefer to send money to a "bank" in the USA because that way they don't need to pay an extra. But to be honest I'm using it mostly because it was the only option I found with a debit card which is important to me since I need to pay cloud and computing services every month.

 

[sdip]

That's what i said. If you don't use those merchants then good for you. I only pointed out that you can't use anymore a US LLC to process payments using Stripe or PayPal and don't pay taxes.

I created an LLC at the end of July to use in stripe, I am a foreigner, non-resident, I obtained the EIN and I am receiving payments in stripe without problems, I make the transfers to payonner and use my mastercard wherever I want. It is not to confront, I just want to clarify that what you are saying is wrong from my position. regards

 

[Marzio]

I just want to clarify that what you are saying is wrong from my position

That's awesome! Have you also tried opening PayPal?

 

[JustAnotherNomad]

I created an LLC at the end of July to use in stripe, I am a foreigner, non-resident, I obtained the EIN and I am receiving payments in stripe without problems, I make the transfers to payonner and use my mastercard wherever I want. It is not to confront, I just want to clarify that what you are saying is wrong from my position. regards

In which state did you form your LLC?

 

[sdip]

In which state did you form your LLC?
[/CITAR]
I have created the LLC in New Mexico and the immediate use of stripe in just 1 week with an incredibly low cost, I have only paid the tax of llc conformation $ 50 and the registered agent (they are excellent) $ 35 then I have made a call , they attended me in Spanish and they immediately gave me the EIN number (approximately 10 days later I received the document written in my registered agent and they uploaded it to my documents), immediately after having the EIN I created the account in stripe and so far everything It has worked 100% the receipt of payments and the transfer to my payonner account. I hope this helps others

 

[Marzio]

it is also possible to use paypal 100% with my llc

From what i know PayPal requires SSN to open a business PayPal account. Happy to be proved wrong again

 

[sdip]

From what i know PayPal requires SSN to open a business PayPal account. Happy to be proved wrong again

I have not deepened with PayPal due to lack of interest, the commissions are higher and the limitation to charge only in dollars, (in my country Argentina my clients cannot pay me with PayPal, I have already tried and no card worked) but I think I have I spoke to the support via chat and it is feasible to use the business paypal account with the LLC, but ... personally, for a lower commission and direct use of the credit card, I see stripe as the best option.

 

[Spinat]

I created an LLC at the end of July to use in stripe, I am a foreigner, non-resident, I obtained the EIN and I am receiving payments in stripe without problems, I make the transfers to payonner and use my mastercard wherever I want. It is not to confront, I just want to clarify that what you are saying is wrong from my position. regards

do you live in the USA or what kind of wonder agent have you been using to get a US bank account for your US company?

 

[sdip]

do you live in the USA or what kind of wonder agent have you been using to get a US bank account for your US company?

I do not live in the United States, I do not have a US account, I am using the payonner bank account
NEW MEXICO REGISTERED AGENT | $35 A YEAR

 

[Marzio]

get a US bank account

He is using Payoneer

 

[drspak]

things don't come back to me:
1) $ 35 is only the agent service without company incorporation.
2) non-residents can request EIN only by fax.
With the covid situation, EIN assignments are delayed by about 2 months.

 

[Spinat]

He is using Payoneer

so actually you could also use a Transferwise account, that would work the same way.

 

[sdip]

things don't come back to me:
1) $ 35 is only the agent service without company incorporation.
2) non-residents can request EIN only by fax.
With the covid situation, EIN assignments are delayed by about 2 months.

there are three methods
1: fax, takes about 2 months
2: Post mail takes about 1 month
3: calling the IRS at the number provided for foreigners, this is immediate.

For the process of the LLC in addition to the registered agent there are sites that do the management for free

 

[sdip]

so actually you could also use a Transferwise account, that would work the same way.

payonner charges me a 1% commission to receive the money to my account, the advantage is that I have my mastercard card to be able to use it in an emergency, if I have the money in a US bank, it may not be so fast have the money, that is the reason .. for now I am like this, but as soon as I have time I will see to open a bank account pro and cons of this for me

 

[John Andrews]

things don't come back to me:
1) $ 35 is only the agent service without company incorporation.
2) non-residents can request EIN only by fax.
With the covid situation, EIN assignments are delayed by about 2 months.

3. PayPal will close your account when you reach a certain turnover; Stripe will too unless you use Stripe Atlas.