Is Stripe Available in Russia?

If you’re a business owner in Russia looking to use Stripe, you might wonder if the payment processing platform is available in your country.

Unfortunately, the answer is no. Stripe is currently not supported in Russia, Ukraine, or Belarus. You can’t use Stripe to accept customer payments if you’re based in Russia.

Although Stripe is not available in Russia, you can open a Stripe account if you are a Russian citizen living in Russia or anywhere by forming a US-based LLC and meeting other essential requirements.

This article explores the essential requirements and how to open a Stripe account in Russia.

Does Stripe Work in Russia?

Unfortunately, Stripe is unavailable in Russia.

According to the Stripe website, the company does not support users in Russia, Ukraine, and Belarus.

This is due to the impact of sanctions on cross-border commerce, as all major credit card networks have announced that they are no longer providing services to Russian financial institutions.

Additionally, you can’t process transactions involving sanctioned Russian financial institutions if you’re a Stripe user in a supported country.

Stripe is currently supported in 46 countries, and Russia is not one of them. Some European countries that support Stripe include the United Kingdom, Austria, Belgium, France, and Bulgaria.

However, if you are looking to open a Stripe account in Russia, follow 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 Russia For Your Business

If you want to open a Stripe account in Russia, you must fulfill 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 open a Stripe account in Russia, you must form a US-based LLC. This entity will serve as the official structure under which your Stripe account operates.

You can manage this process directly through the state government or enlist the services of a registered agent like Northwest Registered Agent to expedite the setup process and handle legal document receipt on your behalf.

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

An EIN is essential for opening your Stripe account.

You can apply for an EIN online, by mail, fax, or through a registered agent. This number identifies your LLC for tax purposes and facilitates business transactions.

Registered agent services like Northwest can streamline this process, typically providing an EIN within 24 hours.

3. A U.S. Business Address

A US-based business address is necessary for LLC registration and obtaining an EIN.

Northwest can provide a virtual US address with mail forwarding and legal document handling services without requiring physical presence in the US.

4. A U.S Phone Number

A US phone number is required to verify your Stripe account.

Virtual phone services such as Skype or Dingtone offer the flexibility to create and manage a virtual US phone number, enabling seamless account verification through SMS.

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

To receive payouts from Stripe, linking a US bank account is crucial.

Since Stripe supports payouts to bank accounts in supported countries, non-US residents can opt for virtual bank account services like Wise or Mercury.

Wise provides a borderless account with US routing and account numbers, facilitating the receipt of payments from Stripe and other US-based entities.

Mercury offers a dedicated US bank account that is seamlessly integrated with Stripe and various payment processors, ideal for startups and entrepreneurs.

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

For Russian entrepreneurs looking to expand their business horizons, forming a US Limited Liability Company (LLC) can be a strategic move.

Here are the best states to form your LLC as a foreigner in Russia:

Wyoming

Wyoming offers a haven for cost-conscious entrepreneurs. Formation and maintenance fees are some of the lowest in the nation, making it a budget-friendly option.

Additionally, Wyoming boasts efficient processing times, minimizing delays in getting your LLC up and running. The state fosters a business-friendly environment, welcoming foreign entrepreneurs with open arms.

Wyoming prioritizes privacy, with strong legal protections to shield your personal information.

New Mexico

New Mexico is a rising star for foreign-owned LLCs, particularly those in their early stages. Attractive tax breaks designed for startups can significantly benefit new businesses, providing a financial boost during a critical growth period.

Compared to Delaware, New Mexico offers a more affordable option, keeping formation and maintenance costs manageable.

The state’s central location within the US can be advantageous, potentially reducing travel time if physical presence in the US becomes necessary.

Delaware

Delaware reigns supreme regarding legal expertise and support for foreign-owned LLCs.

The state boasts a well-established legal system specifically geared towards business needs. This translates to reliable support and guidance throughout the LLC formation process.

The renowned Court of Chancery also offers a robust framework for resolving business disputes, providing stability for entrepreneurs venturing into unfamiliar legal territory.

Delaware streamlines the paperwork for foreign-owned businesses, ensuring a smoother LLC formation experience.

While formation and maintenance fees might be higher than those of other options, Delaware’s legal expertise and established system can be invaluable for long-term business success.

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

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.

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 it’s also great if you’d like to include it in your order!

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 Russia – Step-by-Step

To create a Stripe account in Russia, 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 virtual bank account to your Stripe account to receive payments.

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

Why I Prefer Northwest Registered Agent For My LLC Formation?

Launching a US LLC is exciting, but navigating the legal complexities can be daunting.

Here’s why I prefer Northwest Registered Agent for my LLC:

Transparent Pricing

Northwest Registered Agent offers upfront pricing with no hidden fees, clarifying costs from the start.

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

Professional Business Address

Northwest allows you to use its address for your business.

Their professional business address solution ensures your business has a separate address, safeguarding your home address and ensuring secure mail delivery.

Complimentary First-Year Service

Forming your LLC with Northwest includes a complimentary first year of registered agent service. This means they handle all legal documents and important mail, saving you time and reducing stress.

After the first year, you can continue this invaluable service at a competitive rate.

Free Operating Agreement

Northwest understands the importance of a well-defined operating agreement. They provide this crucial document free of charge when you establish your LLC, outlining your business structure to protect personal assets and ensure smooth operations.

Tax Efficiency Options

Empowering you to choose the most tax-efficient structure for your business, Northwest offers options like sole proprietorship, partnership, S corporation, or C corporation. This flexibility helps maximize profits while meeting your business goals.

Budget-Friendly Packages

Starting at just $39, Northwest’s service packages are budget-friendly compared to other registered agent services.

This affordability makes them accessible to entrepreneurs and small businesses looking to establish a strong foundation.

Comprehensive Business Tools

When you form your LLC with Northwest, you also receive a complimentary domain name, website, email address, and business phone number.

This comprehensive package is crucial for establishing a professional online presence from the outset of your business.

Privacy Protection

Northwest prioritizes your privacy by ensuring your personal information remains confidential and excluded from public records. This commitment lets you focus on building your business empire with peace of mind, knowing your privacy is safeguarded.

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

Frequently Asked Questions

Is Stripe available in Russia?

Stripe does not support users located in Russia, Ukraine, and Belarus due to the impact of sanctions on cross-border commerce. All major credit card networks have announced that they no longer providing services to Russian financial institutions.

Which currencies can be handled through Stripe’s payment gateway?

Stripe’s payment gateway supports transactions in over 135 currencies, including USD, EUR, GBP, JPY, AUD, and CAD. However, some currencies may be subject to additional fees and may not be available in certain countries.

In what countries is Strip Atlas available?

Stripe Atlas is available to businesses in over 120 countries, including the United States, Canada, the United Kingdom, and many European countries. However, certain countries do not offer Stripe Atlas due to regulatory or compliance reasons.

Are there any alternative payment platforms for users in Russia to Stripe?

There are several alternative payment platforms available to users in Russia. These include Yandex. Money, WebMoney, and Qiwi Wallet.

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