Is Stripe Available in Tanzania? (Account Opening Guide)

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

Stripe is unavailable in Tanzania. However, the platform is constantly expanding its global reach so that it may become available. However, Tanzanian businesses can use Stripe to accept payments online if they follow the right procedure.

In this article, we’ll explore whether Stripe is available in Tanzania and what you need to know to get started with the platform.

Does Stripe Work in Tanzania?

Unfortunately, Stripe is not supported in Tanzania. Stripe is only supported in 46 countries, and Tanzania is not one of them.

This means that if you are a business owner in Tanzania, you can’t use Stripe as a payment gateway for online transactions.

However, there is a legal way to use Stripe in Tanzania. You can open a Stripe account in Tanzania 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
5. Provide your tax ID and government-issued ID.
6. Verify your email address and phone number.
7. Add a bank account in Tanzania where Stripe supports processing payments (Use Wise or Mercury).
8. Start accepting payments.

Requirements To Open A Stripe Account In Tanzania For Your Business

You must meet certain requirements to start accepting payments through Stripe in Tanzania.

Requirement	Where To Get It
US-based LLC	Register with a registered agent (Northwest)
EIN/Tax ID	Apply online through the IRS website
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)

The first step to opening a Stripe account in Tanzania is to form a US-based Limited Liability Company (LLC) and register it with the state government of your choice.

You can either handle this process directly or hire a registered agent.

Northwest Registered Agent is a reliable service that can assist you in setting up your LLC efficiently. They offer LLC formation services in all 50 states.

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

You need to fill out an application with the IRS to obtain an EIN or Tax ID. 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.

Using a third-party service like Northwest Registered Agent can swiftly get an EIN, typically within 24 hours.

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. You can use a registered agent service to provide a U.S. address for your LLC.

Northwest Registered Agent provides a U.S. business address with mail forwarding and legal document handling services.

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 allow you to create a virtual U.S. phone number to receive SMS messages, making the verification process seamless.

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

You must link a U.S. bank account to your Stripe account for payouts.

You can use a virtual bank account service to get a U.S. bank account as a non-U.S. resident.

Two reliable virtual bank account services that integrate smoothly with Stripe are Wise (formerly TransferWise) and Mercury.

Wise offers a borderless account and provides U.S. routing and account numbers, while Mercury offers a dedicated U.S. bank account that integrates smoothly with Stripe and various payment processors.

Related Post: Mercury Review Guide (My Personal Experience)

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

If you are a foreign entrepreneur looking to form a US-based LLC, you may wonder which states are the best places to set up your business.

While many factors must be considered, including taxes, privacy, and legal protections, a few states stand out as top choices for foreigners.

Wyoming

Wyoming is popular with foreign entrepreneurs because of its low taxes and strong privacy protections. It has no state income tax, franchise tax, or personal property tax.

Wyoming has strong privacy laws that allow LLC members to remain anonymous. This can be particularly beneficial for foreign entrepreneurs who are concerned about privacy and security.

New Mexico

New Mexico is great for foreign entrepreneurs looking to form a US-based LLC. The state has a relatively low cost of living and a strong business climate.

New Mexico has no annual report fees, making it a cost-effective choice for LLC formation.

Delaware

Delaware is another popular choice for foreign entrepreneurs. This is largely due to the state’s well-established legal system and business-friendly laws. More than half of all US publicly traded companies are incorporated in Delaware.

Delaware has no state sales tax, inventory tax, or intangible property tax, which makes it attractive for foreign entrepreneurs looking to minimize their tax burden.

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

Here are the steps 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 signing up with Northwest Registered Agent. Northwest Registered Agent is a company that will help you create 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

Choosing your business entity and state is an important step in forming your LLC. 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’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.

You can choose the physical and mailing addresses you want 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 use 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.

If you’re the only one/single-man business, leave it at one member and enter your name.

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 Tanzania address, phone number, etc.

Step 6. Setup Your Account with Northwest Registered Agent

After entering all your information, 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 and create a viable Stripe account.

You’ll need an EIN as a foreigner or non-resident.

It’s pretty easy (and cheaper) to get this without the help of registered agents, but it’s also great if you’d like to include it in your order!

However, the Northwest Registered Agent will obtain your EIN or Tax ID for a fee of $200. This is particularly beneficial if you lack a Social Security Number (SSN) or are a foreign entity.

Step 9. Checkout (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)

Follow the step-by-step guide below to create your Stripe account and accept payments in USD.

Basic Requirements for Creating A Stripe Account

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

• Business name (LLC)
• Email address
• Government-issued ID
• EIN

Creating a Stripe Account in Tanzania (Step-by-Step)

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. Select Tanzania as the country where your business is located and enter your business name.
4. Enter your EIN in the Tax ID field.
5. Provide your personal information, including your name and government-issued ID.
6. Agree to the Stripe terms of service and click “Authorize access to this account”.
7. Verify your email address by clicking on the link in the email that Stripe sends you.
8. Provide additional information about your business, including your website and business type.
9. Connect your bank account to your Stripe account to receive payments.

Congratulations! You have successfully created your Stripe account and can now accept payments in USD.

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 may 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

One of the things that sets Northwest Registered Agent apart from other LLC formation services is its transparent pricing.

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

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 especially helpful if you don’t have a physical office or want to keep your home address private.

Northwest will receive your mail and forward it to you, so you don’t have to worry about missing important documents.

Free One-Year Registered Agent

When you form an LLC with Northwest Registered Agent, you get a free one-year registered agent service.

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.

Free Operating Agreement

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

An operating agreement is a legal document that outlines your LLC’s ownership and operating procedures. It is essential for protecting your personal assets and ensuring that your LLC operates smoothly.

Affordable Pricing

Northwest Registered Agent offers affordable pricing for its LLC formation packages. Depending on your needs and budget, you can choose from several different packages.

Northwest Registered Agent offers a low starting fee of $39, unlike other registered agents that charge over $1000.

Free Domain, Website, Email & Business Phone

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 a professional online presence.

Privacy by Default

Northwest Registered Agent offers privacy by default. This means your personal information is kept private and is not listed on public records.

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 Tanzanian Stripe Account?

If you are a Tanzanian entrepreneur looking to expand your business to the United States, forming a US Limited Liability Company (LLC) can offer several benefits for your Tanzanian Stripe account.

Here are some of the benefits of forming a US LLC:

Limited Liability Protection

One of the main benefits of forming a US LLC is that it provides limited liability protection to its owners. This means that the owners’ personal assets, such as homes, cars, and bank accounts, are protected from business debts and obligations.

This is particularly important for Tanzanian entrepreneurs who want to protect their assets while doing business in the United States.

Tax Benefits

Another benefit of forming a US LLC is that it offers tax flexibility.

By default, an LLC is a pass-through entity, which means that the business’s profits and losses are passed through to the owners and reported on their personal tax returns. This can result in lower taxes for the owners than other business structures.

Also, LLCs can elect to be taxed as a corporation, offering additional tax benefits.

Credibility and Professionalism

Forming a US LLC can also add credibility and professionalism to your Tanzanian Stripe account.

A US-based business entity can facilitate business with US-based customers and partners and help establish trust and legitimacy with potential customers and investors.

Easier Access to Funding

Forming a US LLC makes accessing funding from US-based investors and lenders easier.

Many investors and lenders prefer to work with US-based companies, and having a US LLC can make your business more attractive to them.

Frequently Asked Questions

Is Stripe available in Tanzania?

No, Stripe is currently not available in Tanzania. However, Tanzanian individuals or businesses can use Stripe for non-Tanzanian transactions if they register or incorporate their business in a country where Stripe is available.

Can Tanzanian individuals or businesses open a Stripe account?

Tanzanian individuals or businesses can use Stripe for non-Tanzanian transactions if they register or incorporate their business in a country where Stripe is available. However, they cannot open a Stripe account solely with a Tanzanian business registration.

What payment methods does Africa support Stripe?

Stripe supports various payment methods in Africa, including credit and debit cards, mobile money, and bank transfers. The availability of payment methods may vary by country.

Which African countries are currently supported by Stripe?

Stripe is currently supported in several African countries, including South Africa, Nigeria, Ghana, and Kenya.

In which countries is Stripe’s global availability still expanding?

Stripe constantly expands its global availability and is currently supported in 46 countries. If you reside in a country where Stripe is not yet supported, you may need to register your company in a country where Stripe is available to open a Stripe account.

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