Is Stripe Available in Guatemala?

If you’re an entrepreneur in Guatemala looking to collect international payments for your online business, you may wonder if Stripe is available there.

Unfortunately, Stripe is not yet supported in Guatemala. However, as a Guatemalan, you can still create an account by forming a business in a Stripe-supported country.

“How do I do that?” you ask.

That is what this guide is all about.

Does Stripe Work in Guatemala?

Stripe’s global availability is expanding, and they are constantly adding new countries to their list of supported countries.

However, Guatemala is not yet one of them. There is hope that Guatemala may be added as a supported country, but there is no timeline for when that might happen.

Some popular payment processing platforms that are available in Guatemala include:

• 2Checkout.
• IBEX PAY Bitcoin Payments
• Pay with Xumm (XRPL)
• QPayPro

These processors offer similar features to Stripe, such as easy integration with your website and support for multiple payment methods.

However, you can still open a Stripe account in Guatemala 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 in Myanmar where Stripe supports processing payments.
8. Start accepting payments.

Requirements To Open A Stripe Account In Guatemala For Your Business

Here are the requirements and where to get them:

Requirement	Where to Get
Business Formation (LLC)	Through a Registered Agent
Employer Identification Number (EIN) or Tax ID	Through the IRS
U.S. Business Address	Use Your Registered Agent’s
U.S. Phone Number	Through a Virtual Phone Service
U.S. Bank Account (To Be Linked To Stripe For Payouts)	Use Wise or Mercury

Lets dive in deeper into each of these requirements and why they matter.

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

One of the main benefits of forming an LLC is that it separates your assets from your business assets. This means that if your business is sued, your assets are protected.

A few options exist for creating an LLC, including doing it yourself or hiring a registered agent.

If you choose to do it yourself, you must file the necessary paperwork with the state where you want to form your LLC. This can be time-consuming and confusing, especially if you are unfamiliar with the process.

A registered agent (like Northwest) is a professional service that can help you form your LLC and provide ongoing support, such as handling legal documents and maintaining your business records.

With Northwest, you can be confident that your LLC is formed correctly and that you have ongoing support to keep your business compliant.

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

An EIN for your LLC is necessary because it helps establish your business’s legal identity. This is important because it allows you to separate your personal and business finances.

There are several best ways to obtain an EIN after forming your LLC.

One way is to apply online through the IRS website. This is a free service that allows you to get your EIN immediately. Another way is to fill out Form SS-4 and mail or fax it to the IRS. This process can take up to four weeks to receive your EIN.

If you are uncomfortable with these options, hire a registered agent to help you obtain your EIN.

A registered agent is a professional service that can help you with the entire process of forming your LLC and obtaining an EIN. They can also act as your point of contact with the IRS and help you stay compliant with tax laws.

3. U.S Business Address

As a non-resident business owner based in Guatemala, I know having a U.S. business address is necessary to open a Stripe account. Stripe requires businesses to have a physical address in the country where they operate to verify their legitimacy.

You can obtain a U.S. business address through a mail forwarding service or a virtual office provider. Mail forwarding services allow you to receive mail and packages at a U.S. address, which can then be forwarded to your address in Guatemala.

Virtual office providers offer a physical address, mail handling, and other services such as phone answering and meeting room rental.

Once you have obtained a U.S. business address, you can register your business with Stripe and accept payments from customers worldwide.

4. A U.S Phone Number

You will need a U.S. phone number when creating or verifying a Stripe account in Guatemala. Stripe requires a phone number with a U.S. country code to be linked to your account for verification purposes.

Having a U.S phone number is necessary to ensure that Stripe can contact you if there are any issues with your account or transactions.

Fortunately, obtaining a U.S phone number is relatively easy using apps and services like Dingtone and Skype. These apps allow you to create a virtual U.S phone number that can be used for verification purposes.

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

There are several ways to obtain a U.S bank account to link to your Stripe account.

One method is Wise, which allows you to open a U.S. bank account remotely and receive a debit card for online purchases and ATM withdrawals.

Another option is Payoneer, which provides a virtual bank account in the U.S. for receiving payments from Stripe and other platforms.

Lastly, Mercury is another option for obtaining a U.S bank account. Mercury offers a full-service digital bank account with a U.S bank account number and routing number, a debit card, and other features.

Regardless of your chosen method, it is important to ensure that the bank account you link to your Stripe account is in your name and can receive ACH transfers. Once you have linked your U.S bank account to your Stripe account, you can receive payouts from Stripe in USD.

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

When forming an LLC as a foreigner in Guatemala, it is important to choose the right state to register your business.

New Mexico, Delaware, and Wyoming are the three most popular states to consider.

New Mexico

New Mexico is an attractive state for forming an LLC due to its low filing fees and no annual report fees. Additionally, New Mexico doesn’t require the member or manager’s name to be included in the certificate of formation filing. This level of privacy can be a significant advantage for some companies.

Delaware

Delaware is popular for forming an LLC due to its well-established legal system and business-friendly environment.

It offers low taxes and minimal reporting requirements, making it an excellent choice for businesses of all sizes. However, if you don’t reside in or operate your business solely in Delaware, it may not be the best state to form your LLC.

Wyoming

Wyoming is another popular state for forming an LLC due to its low taxes and high level of privacy.

It also offers a simple registration process and minimal reporting requirements, making it an excellent choice for non-US residents. Wyoming is considered one of the best states for LLCs, and it’s my preferred state for forming an LLC as a foreigner.

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

To use Stripe in Guatemala, you must first form a Limited Liability Company (LLC) in the United States.

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

To form your LLC, you must sign up with a registered agent. Northwest Registered Agent is an excellent option for this.

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 sign up with Northwest Registered Agent, you can choose your business entity and state.

You can choose from various business entities, including LLCs, corporations, and 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 have chosen your business entity and state, you will 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:

The good thing about Northwest Registered Agents is that they offer the convenience of using their address as your business address, eliminating the need for a separate US address for your company.

Similarly, you can utilize their mailing services if you lack a mailing address option. If you require physical documents, you can include a US mailing address.

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. They can include your local Guatemala address, phone numbers, etc.

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.

It would be best to have an EIN as a foreigner or non-resident. It’s pretty easy to get this (and cheaper) without the help of registered agents. But if you’d like to include it in your order, that’s also great!

However, 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)

Basic Requirements

Before you can create a Stripe account, you’ll need to have the following information on hand:

• Business Name: Make sure the name of your business matches the name on your government-issued ID.
• Email Address: You’ll need a valid email address to create your Stripe account.
• Government-Issued ID: You must provide a government-issued ID, such as a passport or driver’s license.
• EIN: You’ll need your Employer Identification Number (EIN) to verify your business.

Creating a Stripe Account Step-by-Step

Once you have all of the necessary information, follow these steps to create your Stripe account:

1. Go to the Stripe website/registration page (https://dashboard.stripe.com/register) and click the “Sign Up” button.
2. Enter your email address and create a password for your account.
3. Provide your business information, including your business name and EIN.
4. Verify your identity by uploading a government-issued ID.
5. Connect your bank account to Stripe to receive payments.
6. Set up payment processing options, such as credit and debit card payments.

It’s important to note that Stripe may require additional information or documentation to verify your account, depending on your business type and location.

Why I Prefer Northwest Registered Agent For My LLC Formation?

I highly recommend Northwest Registered Agent if you’re looking for a reliable and trustworthy registered agent for your LLC formation. As someone who has been using them since 2020 to create my Florida LLC, I can attest to their excellent service and transparent pricing.

One of the things I appreciate most about Northwest Registered Agent is their pricing.

Unlike other registered agents that charge over $1000 to get started, Northwest only charges $39. This makes it much more affordable for small business owners.

Another great feature of Northwest Registered Agent is their free one-year registered agent service. This means they will be your registered agent for free for the first year of your LLC formation. They also provide a free operating agreement, essential for any LLC.

Northwest Registered Agent also allows you to use one of their local offices as your business address. This is especially helpful if you don’t have a physical office space yet or work from home and don’t want to use your home address as your business address.

One thing I appreciate about Northwest Registered Agent is its transparent pricing. There are no annoying upsells or recurring monthly fees; everything is optional. This means you only pay for the services you need and won’t be surprised by hidden fees or charges.

Privacy is also a top priority for Northwest Registered Agent.

By default, they keep your address off the public record, which is a huge relief for many small business owners who value their privacy.

Finally, Northwest Registered Agent offers a free domain, website, email, and business phone. This is a great perk for small business owners who are just starting and need to establish an online presence.

Final Thoughts on Stripe Account Set Up in Guatemala

In conclusion, Stripe is available in Guatemala, but setting up an account can be a bit tricky.

You will need a US bank account to create a Stripe account in Guatemala. Services like Wise and Payoneer can assist you in obtaining an individual US bank account, which will be required during the Stripe account setup process.

Once you have your US bank account, you must provide a legal entity, tax ID, physical location, phone number, government-issued ID, working website, and physical bank account in Guatemala, where Stripe supports processing payments.

It is important to note that Stripe is currently supported in 46 countries, including Guatemala. However, double-checking if your country is supported before setting up an account is always a good idea.

Frequently Asked Questions