Is Stripe Available in Armenia? Here’s How to Create an Account

If you’re an entrepreneur in Armenia looking to expand your business globally, you may wonder if Stripe is available in your country. Stripe is a popular payment gateway that allows companies to accept payments from customers worldwide.

However, it’s not available in every country, including Armenia.

In this article, I’ll explore how to open and create a Stripe account for your business and what entails as a non-US resident in Armenia.

In the following sections, we’ll explore the requirements to open a Stripe account in Armenia, including forming a U.S.-based LLC, obtaining an EIN or Tax ID, and more.

Does Stripe Work In Armenia?

The answer is no; Stripe is not currently available in Armenia. However, there are ways to use Stripe for non-supported countries, and this is a legal way.

One option is to register or incorporate your business in the US, which gives you a unique Tax ID for US business. This will allow you to use Stripe and receive payments from your customers in any currency, depending on your audience’s preferences.

To open a Stripe account in Armenia, several requirements must be met, including forming a US-based Limited Liability Company (LLC) and obtaining an Employer Identification Number (EIN) or Tax ID. Northwest is an excellent resource for entrepreneurs looking to incorporate their business in the US and gain access to Stripe.

Northwest Registered Agent is a powerful platform that provides entrepreneurs with the resources they need to start and grow their businesses. It offers comprehensive tools and services, including incorporation, banking, tax, and legal support, to help you get your business up and running.

Requirements To Open A Stripe Account In Armenia For Your Business

Here are the key requirements and where to get them:

Requirement	Where to Get
Business Formation/LLC	Through a registered agent (Northwest)
Employer Identification Number (EIN) or Tax ID	Apply online through the IRS website
US Business Address	Through a virtual mailbox service
US Phone Number	Through a virtual phone service
US Bank Account (To Be Linked To Stripe For Payouts)	Use Wise or Mercury

Lets dive deeper.

1. A Business Formation In The U.S (LLC)

One of the most popular business structures in the U.S. is the Limited Liability Company (LLC). An LLC is a type of business structure that provides personal liability protection for its owners while still offering the flexibility and tax benefits of a partnership.

Forming an LLC is relatively straightforward and can be done online in most states.

The process typically involves choosing a name for your LLC, filing the necessary paperwork with the state, and obtaining an Employer Identification Number (EIN) from the IRS. Once your LLC is formed, you can then use it to create a Stripe account and start accepting payments.

There are several benefits to forming an LLC when creating a Stripe account in Armenia.

One of the main benefits is personal liability protection. As an LLC owner, your assets are separate from the business’s assets. If the LLC is sued or incurs debt, your assets are generally protected from seizure.

Another benefit of forming an LLC is the tax flexibility it provides. Depending on their needs, LLCs can choose to be taxed as either a partnership or a corporation. This allows LLC owners to take advantage of certain tax benefits and deductions that may not be available to other business structures.

When forming an LLC, you can choose to use a registered agent service, such as Northwest, to help with the formation process.

Using a registered agent service like Northwest can be beneficial for several reasons.

First, it can help ensure that your LLC is formed correctly and in compliance with state laws. Second, it can provide an extra layer of privacy, as the registered agent’s address is used in place of your own on public documents.

Finally, it can provide a physical presence where your LLC is formed, which can be helpful if you ever need to appear in court or conduct business in that state.

2. Obtaining An Employer Identification Number (EIN) Or Tax ID

You will also need to obtain an Employer Identification Number (EIN) or Tax ID.

An EIN is a unique nine-digit number the IRS assigns to identify your business for tax purposes. It is similar to a Social Security number for individuals.

Having an EIN is necessary for your LLC because the IRS requires it for tax purposes. Your EIN will be used to file your business taxes, open a business bank account, apply for loans, and perform other business-related activities.

Having an EIN to set up a Stripe account is also necessary.

To get an EIN, you can apply online through the IRS website, mail, fax, or by phone. You must provide your business name, address, and other relevant information to complete the application. The IRS will then assign you an EIN, which you can use to set up your Stripe account.

There are many benefits to having an EIN for your business. It helps to establish your business’s legal identity and makes it easier to file your taxes. It also allows you to open a business bank account and apply for loans, which can help you to grow your business.

3. U.S Business Address

As a non-resident and a business owner based in Armenia, I know that having a U.S. business address is necessary to open a Stripe account. Stripe requires a physical address in the United States to verify your business entity.

There are several options available to obtain a U.S. business address.

One option is to use a virtual mailbox service that provides a U.S. street address for your business. This service receives your mail and packages and forwards them to your address in Armenia. Some popular virtual mailbox services include ipostal1, VirtualPostMail, Anytime Mailbox, and Earth Class Mail.

4. A U.S Phone Number

When creating or verifying a Stripe account in Armenia, you must provide a U.S. phone number.

This is because Stripe requires a phone number to receive SMS messages for verification purposes. A U.S. phone number is preferred because Stripe is a U.S.-based company, and it is easier for them to verify a U.S. phone number.

If you do not have a U.S. phone number, you can easily obtain one using apps and services such as Dingtone and Skype.

These services allow you to obtain a U.S. phone number for free or for a small fee. Once you have obtained a U.S. phone number, you can use it to create and verify your Stripe account in Armenia.

It is important to note that using a fake or non-existent phone number is not recommended, as it can result in your account being suspended or terminated. Providing accurate and verifiable information is crucial for the security and legitimacy of your Stripe account.

5. U.S Bank Account (To Be Linked To Stripe For Payouts)

A U.S. bank account is required to receive payouts from Stripe. Stripe is based in the United States and uses the Automated Clearing House (ACH) system to transfer funds to your bank account.

There are different ways to get a U.S. bank account.

One way is through Wise, a digital banking platform that allows you to open a U.S. bank account remotely.

Another option is Payoneer, which provides a global payment service that enables you to receive payments from companies worldwide.

Lastly, Mercury is a U.S. bank specializing in serving startups and small businesses.

Once you have a U.S. bank account, you can link it to your Stripe account for payouts. To do so, log in to your Stripe dashboard and navigate to the “Payouts” section. You can add your bank account information and set your payout schedule from there.

What’s the Best State to Form Your LLC as a Foreigner in Armenia?

While you can technically choose any state to form your LLC, three popular options are worth considering: Delaware, New Mexico, and Wyoming.

Delaware

Delaware is a popular option for those who plan to raise money from investors in the future. Around 80% of US public companies choose to incorporate in Delaware.

One of the most significant advantages of incorporating in Delaware is the state’s well-established legal system, which is considered business-friendly. However, the major downside of incorporating in Delaware is the higher cost of filing and maintaining the company.

New Mexico

New Mexico is another attractive option for foreign LLCs because of its low filing costs and lack of annual report requirements.

In addition, New Mexico is one of the few US states that doesn’t require the name of the member or manager to be included in the certificate of formation filing. This fact alone makes New Mexico attractive for those who value privacy.

Wyoming

Wyoming is a popular option for those looking for a low-cost and low-maintenance option. Filing an LLC in Wyoming only costs around $150, and there are no taxes at the corporate level. However, you will still need to pay federal taxes. Wyoming is also known for its strong privacy laws, which can be a major advantage for some foreign LLCs.

Why to Avoid California

It’s worth noting that some states, like California, have high franchise tax fees, which can be a significant burden for foreign LLCs. For this reason, it’s generally best to avoid incorporating in California if possible.

Steps On How To Form Your LLC & Open A Stripe Account

Once you’ve confirmed that Stripe is available in Armenia, the next step is to form your LLC and open a Stripe account.

Here are the steps to follow:

Step 1. Sign up For Northwest Registered Agent

The first step in forming your LLC is to sign up with Northwest Registered Agent.

Northwest Registered Agent provides services that help you form your LLC and provide you with a registered agent, which is required by law.

You can sign up for their services on their website.

Go to https://www.northwestregisteredagent.com/

You’ll be directed to the page below. Click on the button – “LET’S GET YOU STARTED.”

Step 2. Choose Your Business Entity and State

Once you’ve clicked the “LET’S GET YOU STARTED” button, you’ll be redirected to a page where you can choose your business entity and state.

You can choose from various business entities, including:

• LLCs
• Corporations
• Partnerships

You’ll also need to select the state where you want to form your LLC.

The state you choose and the processing time (Standard and Expedited) would determine the total amount.

For instance, below is that of Alabama ($334):

Here’s that of New Mexico ($98):

Step 3. Enter Your New/Existing Details

After you’ve chosen your business entity and state, you’ll need to enter your new or existing details. This includes your company name, address, and other relevant information.

Choose the physical and mailing addresses you would like to use for the business:

Northwest Registered Agents offers the convenience of using their address as your business address, eliminating the need for a separate US address for your company.

Step 4. Enter The Management For Your LLC

Next, you’ll need to enter the management information for your LLC. This includes the names and addresses of your managers and their roles in the company.

Step 5. Fill in Your Contact Details

This is where you fill in your contact details. These details will serve as your primary means of contact with Northwest. You can use your local/current details as a point of contact with Northwest.

Step 6. Setup Your Account with Northwest Registered Agent

After entering all your information, you must set up your account with Northwest Registered Agent – using your email and preferred password.

This will allow you to access their services and complete the following steps to form your LLC.

Step 7. Get Your Business Identity (optional)

You can add the Northwest Business Identity option for your LLC.

It includes domain name registration, a website hosted by them but owned by you, a business email address, and a business phone. These are all free for 90 days.

Step 8. Getting Your Tax ID or EIN – optional

If you want your LLC’s tax ID (EIN), you can do so through Northwest Registered Agent. They will help you complete and submit the necessary forms to the IRS.

It would be best if you had an EIN as a foreigner or non-resident. If you’d like to include it in your order, that’s also great! For a fee of $200, Northwest Registered Agent will obtain your EIN or Tax ID. This is particularly beneficial if you lack a Social Security Number (SSN) or are a foreign entity.

Step 9. Checkout/Payment (Congratulations!)

Once you’ve completed the previous steps, you can check and finalize your LLC formation. Enter your valid card information, then click Done!

Congratulations—you’ve formed your LLC and are ready to open a Stripe account!

Finally, Create Your Stripe Account (With Your EIN & LLC Information)

If you have followed the previous steps and have successfully registered your business in Armenia, the next step is to create a Stripe account.

Basic Requirements

Before you create a Stripe account, you will need to have the following information ready:

• Your business name and email address
• A government-issued ID
• Your EIN (Employer Identification Number) or ITIN (Individual Taxpayer Identification Number)
• Your LLC (Limited Liability Company) information

Creating a Stripe Account Step-by-Step

1. Go to the Stripe website and click the “Sign Up” button.
2. Fill out the registration form with your business name, email address, and password.
3. Verify your email address by clicking on the link in the confirmation email that Stripe sends you.
4. Provide your government-issued ID to verify your identity.
5. Enter your LLC information, including your EIN or ITIN.
6. Connect your bank account to your Stripe account to receive payments.

Once you have completed these steps, your Stripe account will be ready. You can start accepting payments from customers all over the world. Stripe also offers a range of features and tools to help you manage your business, such as invoicing, subscriptions, and fraud detection.

Why I Prefer Northwest Registered Agent For My LLC Formation?

When it comes to forming an LLC, there are many options. Legalzoom, Zenbusiness, Tailorbrands and lots of them.

However, I have been using Northwest Registered Agent since 2020 to create my Florida LLC, and I confidently recommend them to you.

Here’s why:

Free One-Year Registered Agent

Northwest Registered Agent offers a free one-year registered agent service when you hire them to form your LLC. This service is usually priced at $125 per year, so this is a great deal. A registered agent is required by law in most states, so this is an essential service for forming your LLC.

Free Operating Agreement

Northwest Registered Agent also provides a free operating agreement when you hire them to form your LLC. An operating agreement is a legal document that outlines your LLC’s ownership and operating procedures. It is essential to have one, and it can cost hundreds of dollars to have an attorney draft one for you.

$39 To Get Started

Unlike other registered agents that charge over $1000 to form your LLC, Northwest Registered Agent charges only $39 to get started. This is of great value, including the free one-year registered agent service and the free operating agreement.

Allows You To Use One Of Its Local Offices As Your Business Address

Northwest Registered Agent allows you to use one of its local offices as your business address. This is a great service if you do not have a physical address for your business. It can also help you maintain privacy by keeping your home address off the public record.

Transparent Pricing

Northwest Registered Agent has transparent pricing, which means there are no annoying upsells or recurring monthly charges. Everything is optional, and you only pay for what you need. This makes it easy to budget for your LLC formation and avoid surprises.

Privacy By Default

Northwest Registered Agent keeps your address off the public record by default. This is a great feature to maintain your privacy and avoid receiving unwanted mail and solicitations.

Free Domain, Website, Email & Business Phone

Northwest Registered Agent also provides a free domain, website, email, and business phone when you hire them to form your LLC. This is a great way to get your business up and running quickly and professionally.

Frequently Asked Questions

How Do I Use Stripe In Armenia?

As Stripe is not currently supported in Armenia, the best option is to form an LLC in the United States, allowing you to open a Stripe account. This process can be completed online, and many services are available to help you through it. Once you have formed an LLC, you can use your new U.S. business address and EIN to set up a Stripe account.

How can I obtain an Employer Identification Number (EIN) as an Armenian resident?

To obtain an EIN as an Armenian resident, you must apply to the Internal Revenue Service (IRS) in the United States. You can do this by completing an online application form provided by Northwest here.

What are the alternatives to Stripe for payment processing in Armenia?

A few of the popular alternatives are PayPal, Skrill and Wise. You could also consider using a local payment gateway, such as Idram or Arca.

What do I need to set up a Stripe account from a non-supported country?

You can use a service such as Northwest Registered Agent to help you form your LLC and obtain your EIN. Once you have your EIN, you can use it to set up your Stripe account.

Can I Get A U.S.-based Address For My Business?

Yes, you can get a U.S.-based address for your business by using a service such as Northwest Registered Agent. They offer a virtual mailbox service that allows you to receive mail and packages at a U.S. address.