Is Stripe Available in Cameroon?

IS STRIPE AVAILABLE IN CAMEROON

If you’re a business owner in Cameroon looking to expand your online payment options, you may wonder if Stripe is available in your country.

Unfortunately, the answer is no. At this time, Stripe is not available in Cameroon.

While this may be disappointing news for some business owners, you can still open a Stripe account in Cameroon using a simple and legal process.

In this article, we’ll explore the requirements for opening a Stripe account in Cameroon.

Key Takeaways

  • Stripe is not currently available in Cameroon.
  • However, you can use Stripe in Cameroon by forming a US LLC and obtaining an Employer Identification Number (EIN), using a registered agent.
  • Use Northwest’s registered agent service for seamless setup.

âžś Click Here to Form Your LLC For as Low as $39

Does Stripe Work in Cameroon?

If you wonder whether Stripe works in Cameroon, the answer is no. Stripe is currently supported in 46 countries, and Cameroon isn’t one of them.

If you have a business in Cameroon, you can’t use Stripe to accept payments from customers in other countries.

Stripe available countries

Some African countries that support Stripe include Kenya, Nigeria, South Africa, and Ghana. If you have a business in any of these countries, you can use Stripe to accept payments from customers worldwide.

However, if you are an entrepreneur from Cameroon looking to open a Stripe account, you can easily open one 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.

Stripe serves as a flexible global payment solution that facilitates businesses in accepting payments across more than 135 currencies worldwide.

Requirements To Open A Stripe Account In Cameroon For Your Business

To set up a Stripe account in Cameroon, you must fulfill certain requirements.

RequirementWhere To Get It
US-based LLCRegister with a registered agent (Northwest)
EIN/Tax IDApply through the IRS website or use a registered agent
US business addressUse a virtual mailbox service or a registered agent
US-based phone numberUse virtual phone number service
US-based bank accountOpen a physical bank account in the US (Use Wise or Mercury)

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

The first step to opening a Stripe account in Cameroon is to form a US-based Limited Liability Company (LLC). This LLC will act as the official entity to open your Stripe account.

Forming an LLC involves registering it with the state government of your choice. You can handle this process directly or hire a registered agent.

Non-US Registered agent services such as Northwest Registered Agent can assist you in setting up your LLC efficiently. They offer a fast and easy way to form your LLC and provide a registered agent service to receive legal documents on your behalf.

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

Obtain an EIN or Tax ID by filling out an application with the Internal Revenue Service (IRS). You can do this online, by mail, by fax, or through a registered agent.

You’ll need to provide information such as your LLC’s name, address, and the name and social security number of your LLC’s responsible party.

Without an EIN, you can’t open a Stripe account.

Get EIN from Northwest

If you use a third-party service like Northwest Registered Agent, you can get an EIN swiftly, typically within 24 hours. This option offers a convenient and expedited way to obtain your EIN without the hassle of dealing directly with the IRS.

3. A U.S. Business Address

You’ll need a U.S. business address to form an LLC and obtain an EIN or Tax ID.

Use a registered agent service to provide a U.S. address for your LLC. Northwest provides a U.S. business address, mail forwarding, and legal document handling services.

Having a U.S. business address does not mean you must be physically present in the U.S. to use Stripe.

4. A U.S. Phone Number

You’ll need a U.S. phone number to verify your Stripe account.

You can use a virtual phone service like Skype and Dingtone to get a U.S. phone number. These platforms offer the ability to create a virtual U.S. phone number to receive SMS messages, making the verification process seamless.

Warning

Note that the phone number used to open your Stripe account must be a valid and active US-based phone number. But it doesn’t matter how you get as long as it can receive verification texts and calls.

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

Linking a U.S. bank account to your Stripe account for payouts is essential.

Stripe only supports payouts to bank accounts from supported countries. As a non-U.S. resident, use a virtual bank account service to get a U.S. bank account.

Two popular options are Wise (formerly TransferWise) and Mercury.

Wise offers a borderless account providing U.S. routing and account numbers, allowing you to receive payments from Stripe and other U.S.-based companies.

Mercury offers a dedicated U.S. bank account that integrates smoothly with Stripe and various payment processors, making it a great option for startups and entrepreneurs.

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

If you are a Cameroonian entrepreneur looking to form a US-based LLC, you have several states to choose from.

Here are the best states to form your LLC as a foreigner in Cameroon.

Wyoming

Wyoming is a great state for foreigners to form an LLC. It has no state income tax, franchise tax, or personal income tax, which can save you a lot of money in the long run.

Additionally, Wyoming has strong privacy protection laws that can help keep your personal information confidential.

Delaware

Delaware is a popular state for entrepreneurs to form an LLC, and for good reason.

Delaware has a well-established legal system that is favorable to business owners. Its low franchise tax will save you money in the long run.

New Mexico

New Mexico is one of the best states where foreigners can form an LLC. The filing fee is $50, and there are no annual report fees. This makes it a cost-effective option for entrepreneurs who want to form an LLC.

Additionally, New Mexico does not require the member or manager’s name to be included in the filing of the certificate of formation.

California is not a good choice for foreigners to set up an LLC in because of high franchise tax and high filing fees, which can be expensive for entrepreneurs.

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.

Northwest registration

Step 2. Choose Your Business Entity and State

Once you’ve signed up for a registered agent service, choose your business entity and state. This will determine the type of LLC you’ll form and its location.

Northwest LLC Formation Order tab1

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.

Northwest LLC Formation Company tab1

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

Northwest LLC Formation Company tab2

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.

Northwest LLC Formation Management tab

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.

Northwest LLC Formation Contacttab
Tip

You don’t have to scramble for a U.S. contact detail to create your Northwest account. Your local details will work just fine as your 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.

Northwest LLC Formation Account tab

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
Northwest LLC Formation Business Identity tab

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!

Northwest LLC Formation EIN tax ID tab

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.

Northwest payment tab

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 Cameroon – Step-by-Step

Create a Stripe Account

To create a Stripe account in Cameroon, 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.

Note

Please ensure the country you selected where your business is incorporated, is the United States, not Cameroon.

Why I Prefer Northwest Registered Agent For My LLC Formation?

If you’re planning to set up a Limited Liability Company (LLC) in the United States, you’ll want to consider Northwest Registered Agent.

Here are some reasons Northwest is a great pick for setting up an LLC in the U.S.

Transparent Pricing

Northwest offers affordable pricing for its LLC formation packages, with no hidden fees or upsells.

You can see the exact price for each package on its website and customize your package to fit your specific needs.

With Northwest, you won’t have to worry about any surprise fees or charges.

Free One-Year Registered Agent

You get a free one-year registered agent service when you form an LLC with Northwest Registered Agent. This means that Northwest will act as your LLC’s registered agent, receiving legal documents and other important mail on your behalf.

After the first year, you can renew the service for an affordable fee. This is a great value that can save you time and money.

Free Operating Agreement

Northwest Registered Agent provides a free operating agreement when you form an LLC with them.

You won’t have to pay extra for this important document.

An operating agreement is a legal document that outlines the ownership and operating procedures of your LLC. This document protects your personal assets and ensures your LLC operates smoothly.

Tax Flexibility

Northwest Registered Agent offers tax flexibility for your LLC. You can choose the tax structure that best suits your business.

Your LLC can be taxed as a sole proprietorship, partnership, S corporation, or C corporation. This flexibility can help you save money on taxes and maximize your profits.

Related Post: How to Create a Stripe Account for Non-US Residents

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

If you are a Cameroonian business owner looking to use Stripe as your payment gateway, consider forming a US Limited Liability Company (LLC).

Here are some of the benefits of creating an LLC:

Limited Liability Protection

One of the main benefits of forming an LLC is that it offers limited liability protection to its owners. This means that your personal assets, such as your home, car, and personal bank accounts, are protected from business debts and obligations.

In case your business is sued or faces financial difficulties, only the assets of the LLC are at risk, not your personal assets.

Tax Benefits

LLCs are not taxed as separate entities, which means that the income and losses of the LLC are passed through to its owners and reported on their personal tax returns.

This can result in significant tax savings, especially if the LLC has multiple owners.

Flexibility

LLCs offer a great deal of flexibility regarding management and ownership structure. The owners, known as members, can manage the LLC themselves or hire a manager to run the day-to-day operations.

LLCs can have unlimited members, such as individuals, corporations, or other LLCs.

Credibility and Professionalism

Forming an LLC can increase the credibility of your business, especially if you plan to do business with US-based companies or customers.

Many US-based companies prefer to do business with LLCs because they offer limited liability protection and are seen as more established and professional.

Easier Access to Funding

LLCs can also have an easier time accessing funding because they are viewed as more credible and professional.

Banks and other financial institutions are more likely to lend money to LLCs because they offer limited liability protection to their owners and are seen as more established and reliable.

Frequently Asked Questions

Is Stripe available in Cameroon?

No, Stripe is not available in Cameroon. Stripe is available in 46 countries, and Cameroon is not one of them.

What are the supported African countries for Stripe services?

Stripe is available in some African countries, including Nigeria, South Africa, Ghana, and Kenya. However, the availability of Stripe services may vary depending on the country.

Which currencies does Stripe support for international transactions?

Stripe supports many currencies for international transactions, including US dollars, euros, British pounds, Japanese yen, Australian dollars, and Canadian dollars. However, the availability of currencies may vary depending on the country.

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

There are several alternatives to Stripe for payment processing in Cameroon, including PayPal, Payoneer, and Skrill.

Are there any countries where Stripe’s services are restricted or blacklisted?

Yes, there are some countries where Stripe’s services are restricted or blacklisted. These include countries that are subject to US sanctions, such as Iran, North Korea, and Syria.

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