Is Stripe Available in Bosnia and Herzegovina?

If you’re a business owner in Bosnia and Herzegovina looking to expand your reach and accept payments from international customers, you may wonder if Stripe is available in your country.

Unfortunately, the answer is no.

Despite Stripe’s widespread popularity and global reach, it is not currently available for businesses in Bosnia and Herzegovina.

While this may be disappointing news for Bosnian entrepreneurs, you can still open a Stripe account in your country.

In this article, we’ll explore the current availability of Stripe in Bosnia and Herzegovina, the requirements for opening a Stripe account in the country, and the benefits of forming a US Limited Liability Company (LLC) for a Bosnian Stripe account.

Does Stripe Work in Bosnia and Herzegovina?

If you wonder whether Stripe is available in Bosnia and Herzegovina, the answer is no. Bosnia and Herzegovina is among the countries that don’t support Stripe in Europe.

Stripe is currently supported in 46 countries, and Bosnia and Herzegovina is not one of them.

You must meet several requirements to use Stripe in an unsupported country like Bosnia and Herzegovina. The two key requirements involve forming a US-based Limited Liability Company (LLC) and obtaining an Employer Identification Number (EIN).

You can open a Stripe account in Bosnia and Herzegovina by following these steps:

1. Create/form an LLC in the United States (use Northwest).
2. Visit the Stripe website and create an account.
3. Enter your business information, including your name, address, and phone number.
4. Provide your EIN (with the help of Northwest).
5. Provide your tax ID and government-issued ID.
6. Verify your email address and phone number.
7. Add a bank account where Stripe supports processing payments (Use Wise or Mercury).
8. Start accepting payments.

Requirements To Open A Stripe Account In Bosnia and Herzegovina For Your Business

To open a Stripe account in Bosnia and Herzegovina, you must meet certain requirements.

Requirement	Where To Get It
US-based LLC	Register with a registered agent (Northwest)
EIN/Tax ID	Apply through the IRS website or use a registered agent
US business address	Use a virtual mailbox service or a registered agent
US-based phone number	Use virtual phone number service
US-based bank account	Open a physical bank account in the US (Use Wise or Mercury)

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

To start, you must form a Limited Liability Company (LLC) in the United States.

You can register your LLC directly with the state government of your choice or use a registered agent service like Northwest Registered Agent, which specializes in expedited LLC formation and helps with legal documents.

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

Once your LLC is established, obtaining an Employer Identification Number (EIN) or Tax ID is essential. This identifier is necessary to activate your Stripe account.

Using registered agent services like Northwest Registered Agent, you can secure your EIN promptly, typically within 24 hours, simplifying the IRS process. However, the service costs $200.

3. A U.S. Business Address

Obtain a U.S. business address for LLC formation and your EIN or Tax ID.

Northwest Registered Agent offers services that include a U.S. address with mail forwarding, ensuring your business maintains a professional presence in the U.S.

A U.S Phone Number

Stripe requires a U.S. phone number to verify your account. You can simplify this requirement by using virtual phone services like Skype or Dingtone, which provide virtual U.S. numbers capable of receiving SMS messages.

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

Linking a U.S. bank account to your Stripe account is crucial for receiving payments. Stripe supports payouts only to bank accounts from supported countries.

As a non-U.S. resident, use virtual bank account services such as Wise or Mercury.

Wise offers a borderless account with U.S. routing and account numbers, facilitating payments from Stripe and other U.S.-based entities.

Alternatively, Mercury provides a dedicated U.S. bank account integrated smoothly with Stripe and various payment processors, ideal for startups and entrepreneurs.

What’s the Best State to Form Your LLC as a Foreigner in Bosnia and Herzegovina?

Choosing the right state is essential if you’re a foreigner looking to start an LLC in the United States.

As a Bosnian and Herzegovinian, here are the best states to form an LLC.

New Mexico

One of the main advantages of forming an LLC in New Mexico is that it’s easy on the wallet. For just $50, you can file your LLC with no pesky annual report fees. This makes it an affordable option for entrepreneurs who are just starting.

Another perk of forming an LLC in New Mexico is that they don’t require you to include the names of members or managers in your initial filing. This means that you can enjoy extra privacy right from the start.

Privacy is important for entrepreneurs who want to protect their personal information and keep their business affairs separate from their personal life.

Delaware

Delaware is another great state for LLC formation. It’s known for its business-friendly legal system, which makes it a popular choice for entrepreneurs.

One of the main advantages of forming an LLC in Delaware is the low franchise tax.

Another advantage of forming an LLC in Delaware is that it has a well-established legal system that is familiar to LLCs. This means that the process of creating an LLC is straightforward and efficient.

Wyoming

Wyoming is a tax-free paradise for LLCs. It has no state income tax, no franchise tax, and no personal income tax. This makes it highly attractive for entrepreneurs who want to keep more of their hard-earned money.

In addition to its tax advantages, Wyoming has robust privacy laws that protect the personal information of LLC owners.

The state has a streamlined process for LLC formation, and it’s known for its fast turnaround times. This means that you can get your LLC up and running quickly.

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

Here are the steps you need to follow to form your LLC and open a Stripe account.

Step 1. Sign up For Northwest Registered Agent

The first step in forming your LLC is to sign up for a registered agent service. I recommend Northwest Registered Agent. This registered agent can help you with the entire process of forming your LLC.

To sign up for their services, go to their website at:

https://www.northwestregisteredagent.com

Then click on the “LET’S GET YOU STARTED” button.

Step 2. Choose Your Business Entity and State

Choose your business entity and state once you’ve signed up for a registered agent service. This will determine the type of LLC you’ll be forming and the location.

The total amount will depend on your chosen state and the processing time. For instance, forming an LLC in Alabama costs $334, while New Mexico costs $98.

Step 3. Enter Your New/Existing Details

Enter your new or existing details after selecting your business entity and state. This includes your name, address, and other essential information.

You can choose the physical and mailing addresses you want for the business.

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

Step 4. Enter The Management For Your LLC

You’ll need to enter the management for your LLC. This includes the members or managers who will run your business.

If you’re a one-person show in your business, stick with one member and use your name.

Step 5. Fill in Your Contact Details

Next, you’ll need to fill in your contact details, including your email address, phone number, and other information.

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 toggle this on to add the Northwest Business Identity option for your LLC. It includes the following, free for 90 days:

• Domain name registration – 1 Free Year
• Website – hosted by us, owned by you
• Business email address
• Business phone

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’s pretty easy to get this on your own, but if you’d like to include it in your order, that’s also great!

Step 9. Checkout/Payment (Congratulations!)

Finally, you’ll need to check and make payment to complete the process of forming your LLC.

Congratulations! You can now open a Stripe account and start accepting payments.

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

To start accepting payments through Stripe, you must create a Stripe account. The process is straightforward and can be completed in a few simple steps.

Basic Requirements for Creating A Stripe Account

Before you start creating your Stripe account, ensure you have the following basic requirements ready:

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

Creating a Stripe Account in Bosnia and Herzegovina – Step-by-Step

To create a Stripe account in Bosnia and Herzegovina, follow these simple steps:

1. Go to the Stripe registration page at https://dashboard.stripe.com/register and click the “Sign Up” button.
2. Enter your email address and create a password.
3. Click on “Create your Stripe account” to proceed.
4. Fill in your business information, including your name, address, and phone number, and click “Continue”.
5. Enter your personal information, including your name and date of birth. Click on “Continue” to proceed.
6. Verify your email address by clicking on the link sent to your email.
7. Provide your government-issued ID for verification purposes.
8. Provide your EIN and LLC information.
9. Connect your bank account to your Stripe account to receive payments.

Once you have completed these steps, you can start accepting payments through Stripe.

Why You Should Prefer Northwest Registered Agent for Your LLC Formation?

Here are some reasons why you should choose Northwest Registered Agent for your LLC formation:

Transparent Pricing

Northwest Registered Agent offers clear and affordable pricing for their LLC formation packages, with no hidden fees or surprises.

You can customize your package to suit your specific needs directly on their website, making it easier to budget and plan for your business expenses.

Free One-Year Registered Agent

When you form your LLC with Northwest, you receive a complimentary one-year registered agent service. This means that they handle legal documents and important mail on behalf of your LLC.

After the first year, you can renew the service at an affordable rate.

Free Operating Agreement

Northwest Registered Agent provides a free operating agreement with your LLC formation, a crucial legal document outlining ownership and operational procedures.

This means you don’t have to incur extra costs to ensure that your LLC is legally compliant.

Tax Flexibility

Northwest Registered Agent provides flexibility in tax structure for your LLC.

You can choose sole proprietorship, partnership, S corporation, or C corporation taxation. You can pick the tax structure that best suits your business needs without any additional hassle.

Affordable Pricing

Starting at just $39, Northwest Registered Agent offers cost-effective LLC formation packages.

This affordability makes it an ideal choice for small business owners looking to save on startup expenses compared to other agents charging over $1000. You can rest assured that you’re getting the best value for your money.

Free Domain, Website, Email & Business Phone

Northwest Registered Agent offers complimentary services including a domain, website setup, email, and business phone when you choose their LLC formation package.

This benefit means you can skip the hassle of setting up your online presence and focus on other aspects of your business.

Privacy by Default

Northwest Registered Agent prioritizes your security and ensures that your personal information remains private and not in public records.

This means you can establish your LLC with peace of mind, knowing your information is safe and secure.

What Are The Benefits Of Forming A US Limited Liability Company (LLC) For a Bosnian Stripe Account?

Here are some of the advantages of forming an LLC for your Bosnian Stripe account:

Limited Liability Protection

One of the main benefits of forming an LLC is the limited liability protection it offers.

This means that the personal assets of the LLC’s owners are protected in the event of any legal action taken against the business. This is particularly important for small business owners who may not have the resources to fight legal battles.

Tax Benefits

Another advantage of forming an LLC is the flexibility it offers in terms of taxation.

LLCs are pass-through entities, which means that profits and losses are passed through to the owners’ personal tax returns. This can result in significant tax savings, especially for businesses just starting.

Privacy By Default

Privacy is a major concern for many business owners, and forming an LLC can help to protect your personal information.

When you form an LLC, your personal information is kept off public records, which can help to prevent identity theft and other forms of fraud.

Credibility and Professionalism

Forming an LLC can help to establish credibility and professionalism for your business. This is because LLCs are recognized as a legitimate business structure in the US, helping build trust with customers and partners.

Ease of Formation

Finally, forming an LLC is a relatively straightforward process.

With the help of a registered agent like Northwest Registered Agent, you can form your LLC quickly and easily.

Frequently Asked Questions

Is Stripe available in Bosnia and Herzegovina?

Stripe is not yet available in Bosnia and Herzegovina. However, you can still open a Stripe account in Bosnia and Herzegovina by establishing a U.S-based LLC and obtaining an EIN.

Can Bosnian individuals or businesses open a Stripe account?

Bosnian individuals or businesses cannot directly open a Stripe account because Stripe is not yet available in Bosnia and Herzegovina. However, there are ways for businesses in Bosnia and Herzegovina to use Stripe for payment processing, such as forming a business entity in the US using Northwest Registered Agent.

What countries are currently supported by Stripe for payment processing?

Stripe currently supports payment processing in 46 countries, including the United States, Canada, Australia, and many countries in Europe and Asia. The full list of supported countries can be found on the Stripe website.

How can businesses in Europe integrate Stripe for their transactions?

Businesses in Europe can integrate Stripe for their transactions by creating a Stripe account and following the integration instructions. Stripe offers integration options, including API, mobile SDKs, and plugins for popular eCommerce platforms like Shopify and WooCommerce.

Are there alternatives to Stripe for online payment processing in unsupported countries?

Yes, there are alternative payment processors that businesses in unsupported countries can use for online payment processing. Some popular alternatives to Stripe include PayPal, Braintree, and Authorize.net.

Read Our Other Stripe-Related Posts