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9 Reviews5.0/5
With Stripe Atlas, entrepreneurs can easily incorporate a U.S. company, set up a U.S. bank account, and start accepting payments with Stripe.
Upvote (61)Share
@leanux_bala this is awesome - i know so many companies in the UK that wonder whether incorporating in the US will help them raise capital so this seems like this will help spur the startup industry in other places and help even out all the venture density from the US to other parts of the world! great going Stripe!
@leanux_bala This is pretty awesome. I run my company from Australia and as modern as our banking system is, there are some real challenges in being an AU company targeting US customers and suppliers: - With this, I will no longer need to convert $US sales into $AU for my bank account before I put it back into $US to pay my suppliers - With this, I won't get charged the extra 1.25% when a purchase is made using a non-Australian card (ie, 90% of my customers) - (Edit: Looks like I'll still be paying 2.9% + 30c per transaction. This is odd, as with Stripe AU it's 1.75% + 30c for domestic cards) - With this, I could potentially run my next Kickstarter in USD rather than AUD (which is a real problem with our currency disparity) These three things make a huge difference to my business. I've looked at registering a US entity before, but there's no turnkey way to do it.. until now.
Upvote (15)Share
@leanux_bala I cannot tell you how stocked I am, after reading about Stripe Atlas. It just might be the solution to every f***ing payment problem my team have been dealing with for past five years (being in a 3rd world country). We are huge fans of Stripe! It's integration the user experience and overall simplicity.
@leanux_bala Game changer
This looks awsome, but i have a question: I'm from Spain (terrible place for entrepreneurs, lot of taxes only for accept payments, make invoices etc), if I use Stripe Atlas, is this tax evasion? Thanks!
Upvote (21)Share
@ricardpanades Nope, you'll still need to pay taxes locally wherever applicable. I don't have much advice on the specifics for Spain, but we partnered with PwC who can assist from a U.S. perspective and introduce you to the cross-border tax considerations when setting up with Atlas. This should help make sure you stay compliant with local laws.
Upvote (18)Share
@ricardpanades I am from Spain too. No it is not.
@ricardpanades While using Stripe Atlas to incorporate in the US isn't tax evasion, the company would still need to report to the tax authorities in Spain (and the US) and pay tax there. Failing to do so would be tax evasion. While I understand this can be very useful to process payments, you need to understand the Pandora's box of international tax complexities you are opening by running a US incorporated entity from Spain (or any other country). After all, Stripe is already available in Spain, so why bother. You will not pay less tax (you might even pay more), but instead increase your cost of tax compliance by an order of magnitude. Not to mention all the extra work. I'm not saying Atlas isn't suitable for anyone. For high-growth, VC-funded startups, having a US presence might make sense (investors like investing in Delaware C-corps). The same for someone from a third world country lacking access to decent payment processing, etc. But in the latter case it might be better to look at other jurisdictions than the US, for example Estonia. But most small to decent-sized businesses in reasonably developed countries should think at least twice (i.e. talk it over with a qualified international tax professional in your home country) before signing up for Atlas or otherwise incorporating in the US. If you think your own tax code is bad/complex/insane, you haven't seen the US one.
This is incredible. Take my upvote you magnificent wizards
Upvote (14)Share
This is hugely exciting. They're helping abstract the boring stuff. (Accounting, incorporation) @blaurenceclark and I cofounded @linktexting and @growamp by using Stripe first. We bootstrapped to pay the incorporation fees and routed the initial cash into his bank account and tracked everything accordingly. We bootstrapped from zero to x using Stripe first. Our major issue with silicon valley bank is that they pass plain text passwords in the forgot password user-flow. We're huge fans of stripe and their integrations though. Check them out here: https://stripe.com/docs/integrat... If you're using Stripe and doing SAAS, I highly recommend @profitwell. We used @clerky to incorporate. While useful, I always feel I'm being stolen from in the C-corp incorporation timeline. Also 83B form filings are the worst, anachronistic. By US law most government organizations can accept digital forms, but many of them haven't adapted to this law. Not a lawyer, just pointing out the anachronism.
Upvote (11)Share
Thanks for the shoutout @datarade. We don't quite have the ProfitWell twitter handle, so find us at @priceintel. Love what Stripe is doing here, continuing to be revolutionary in the world.
Can't wait for it to become widely available