Is Stripe Available in Turkey? Yes, Here’s What You Need to Know

Is Stripe available in Turkey?

Well, Stripe is currently supported in 46 countries worldwide, but unfortunately, Turkey is not one of them. If you’re based in Turkey, you won’t be able to use Stripe to accept payments from customers online.

However, alternative payment solutions are available that you can explore to accept payments from customers in Turkey and around the world.

Does Stripe Work In Turkey?

Stripe does not offer its services directly in Turkey for standard account onboarding. If you are based in Turkey and looking to use Stripe for your business, you would typically need to consider alternative methods that comply with Stripe’s policies and local regulations.

One common workaround is establishing a business entity in a country where Stripe is available, such as the United Kingdom or the United States.

This involves registering a company in that country, obtaining any necessary tax identification numbers (like an EIN in the U.S.), and opening a Stripe account associated with that foreign entity. This process allows you to access Stripe’s payment platform and accept international payments, including USD transactions.

In a nutshell, here’s the process to follow:

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 the Philippines where Stripe supports processing payments.
8. Start accepting payments.

Requirements To Open A Stripe Account In Turkey For Your Business

Here are the requirements that you need to fulfill:

Requirement	Where to Get
Business Formation/LLC	Through a registered agent in the US
Employer Identification Number (EIN) or Tax ID	Internal Revenue Service (IRS) in the US
US Business Address	Through a virtual mailbox or registered agent in the US
US Phone Number	Through a virtual phone service provider
US Bank Account	Use Wise or Mercury

Lets dive deeper.

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

As you might know, a limited liability company (LLC) is one of the most popular business structures in the U.S. An LLC is a hybrid entity that combines the benefits of a corporation and a partnership. It provides personal liability protection for its owners while also offering flexibility in terms of management and taxation.

There are several benefits of forming an LLC for your Stripe account.

First and foremost, it establishes your business as a legal entity in the U.S., a requirement for creating a Stripe account. An LLC provides limited liability protection for its owners, meaning that their assets are protected in case of any legal or financial issues that may arise.

This is especially important for entrepreneurs who are just starting out and may not have many assets to fall back on.

When it comes to setting up an LLC, there are several options available. You can do it yourself, hire an attorney, or use a registered agent service like Northwest. While setting up an LLC yourself may seem cost-effective, it can be complicated and time-consuming.

Hiring an attorney can be expensive and unnecessary for a simple LLC formation. That’s where a registered agent service comes in.

A registered agent is a third-party service authorized to receive legal and tax documents on behalf of your LLC. They can also help you with the formation process, including filing the necessary paperwork and obtaining the required licenses and permits.

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

Secondly, you must obtain an Employer Identification Number (EIN) or Tax ID. The IRS assigns this unique nine-digit number, necessary for paying taxes, opening a business bank account, and applying for loans.

As an LLC owner, obtaining an EIN is crucial to establishing your business’s legal identity. It’s like a Social Security number for your business. If you don’t have an EIN, you must provide your Social Security Number (SSN) for every US Stripe account you create.

Obtaining an EIN for your LLC has several benefits. First, it separates your personal and business finances, which can help you keep track of your business expenses and taxes.

3. U.S Business Address

As a non-resident business owner based in Turkey, you may wonder why a U.S. business address is necessary to open a Stripe account. This requirement is because Stripe is a U.S.-based company, and having a U.S. business address is a way to verify your business’s legitimacy.

Fortunately, getting a U.S. business address as a non-resident is not as difficult as it may seem.

One option is to use a virtual mailbox service that provides a U.S. address for your business.

These services typically receive your mail and packages, scan or forward them to you, and provide a physical address that you can use for business purposes.

Another option is to use a registered agent service. A registered agent is a person or company authorized to receive legal documents on behalf of your business. Many registered agent services also offer a U.S. business address as part of their package.

4. A U.S Phone Number

Having a U.S. phone number is one of the requirements for creating a Stripe account in Turkey. Stripe uses phone numbers to verify the identity of the account holder. A U.S. phone number is preferred because it is easier for Stripe to verify and more likely to be accepted.

To obtain a U.S. phone number, you can use apps and services such as Dingtone and Skype.

These apps allow you to get a U.S. phone number for free or for a small fee. Once you have obtained a U.S. phone number, you can use it to complete the verification process and create your Stripe account.

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

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

One way is to use a service like Wise, which allows you to open a U.S. bank account remotely and receive payments in USD. Another option is to use Payoneer, which provides a U.S. virtual bank account that can be linked to Stripe for payouts.

Lastly, you can use Mercury, which offers free business bank accounts for startups and small businesses in the United States.

Once you have obtained a U.S. bank account, you can easily link it to your Stripe account through the Settings > Payouts menu in the Stripe Dashboard. Stripe will then be able to transfer funds to your linked bank account regularly.

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

Three popular states to consider include New Mexico, Delaware, and Wyoming. Each state has unique advantages for different types of companies.

Wyoming

A Wyoming LLC is a popular low-cost option, as it only costs around $150 to file an LLC and an annual report. Wyoming does not have taxes at the corporate level, but you will still need to pay federal taxes.

If you are looking for a relatively low-cost and low-maintenance option, Wyoming could be a solid option.

Delaware

Delaware is a popular option if you think you will raise money from investors in the future. Nearly 80% of US public companies choose to incorporate in Delaware. The major downside is the higher cost of filing and maintaining the company.

New Mexico

New Mexico is another attractive option because the filing costs are low, and you do not have to file an annual report. Additionally, New Mexico is one of the few US states that doesn’t require the member or manager’s name to be included in the filing of the certificate of formation.

A $50 filing fee is required to register an LLC in New Mexico; however, no annual report fees are required. This fact alone makes New Mexico an attractive state for non-US residents.

In the end, Wyoming is a preferred state for forming an LLC as a foreigner in Turkey. It is a low-cost and low-maintenance option that does not have taxes at the corporate level.

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 to sign up with Northwest Registered Agent. This company will help you form 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

Once you click the button, you’ll be redirected to a page where 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’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.

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 Turkey 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, website (hosted by us, owned by you), business email address, and 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.

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!

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 start accepting payments with Stripe in Turkey, you must ensure you have a few things in order.

First, you’ll need a business name and email address, as well as a government-issued ID. You’ll also need an EIN (Employer Identification Number) for your LLC. If you don’t already have one, you can apply for one through the IRS website.

Creating a Stripe Account Step-by-Step

Once you have all of your basic requirements in order, you can start creating your Stripe account.

Here’s a step-by-step guide to help you through the process:

1. Go to the Stripe website and click the “Sign Up” button.
2. Fill out the registration form with your business name, email address, and password.
3. Verify your email address by clicking the link in the confirmation email that Stripe sends you.
4. Provide your EIN and LLC information to verify your business.
5. Add any additional information that Stripe requires, such as your bank account information.
6. Start accepting payments!

It’s important to note that while Stripe is available in Turkey, some restrictions or limitations may exist based on your business type or industry. Review Stripe’s terms and conditions to ensure your business is eligible to use the platform.

Why I Prefer Northwest Registered Agent For My LLC Formation?

When forming an LLC, there are several registered agents to choose from. Talk about services like Tailorbrands, Zenbusiness, LegalZoom, etc.

However, I’ve been using Northwest Registered Agent since 2020 to create my Florida LLC, and I’ve been delighted with their services.

Here are some reasons why I prefer Northwest Registered Agent:

Transparent Pricing

One of the things I appreciate about Northwest Registered Agent is their transparent pricing with clients over the years.

There are no annoying upsells or recurring monthly fees; everything is optional. The company charges a flat fee of $39 to get started, much lower than other registered agents that charge over $1000.

Free One-Year Registered Agent

Northwest Registered Agent offers a free one-year registered agent service with LLC formation, which is a huge plus. After the first year, the registered agent service costs $125 annually, but it’s a small price to pay for peace of mind with a registered agent.

Free Operating Agreement

Northwest Registered Agent provides a free operating agreement with LLC formation, another great perk. An operating agreement is a legal document that outlines the ownership and operating procedures of an LLC. It’s an essential document that every LLC needs, and Northwest Registered Agent provides it for free.

Local Offices as Business Address

Another reason I prefer Northwest Registered Agent is because they allow you to use one of their local offices as your business address. This is helpful if you don’t have a physical address for your business or if you want to keep your address private.

Privacy by Default

Northwest Registered Agent keeps your address off the public record, a huge plus for privacy-minded individuals. Your address won’t be listed on the state’s public records, which can help protect you from unwanted solicitation or other privacy concerns.

Free Domain, Website, Email & Business Phone

Finally, Northwest Registered Agent offers a free domain, website, email, and business phone with LLC formation. This great value-add can save you time and money when setting up your business.

Frequently Asked Questions

How can I sign up for Stripe if I am based in Turkey?

Suppose you are based in Turkey and want to use Stripe. In that case, you can register a US-based Limited Liability Company (LLC) and obtain an Employer Identification Number (EIN) or Tax ID. Once you have an LLC and EIN, you can sign up for Stripe using your US-based business information.

Are there any restrictions on using Stripe services in Turkey?

Yes, Stripe is not available in Turkey. However, you can use Stripe if you register or incorporate your business in the US.

What alternatives to Stripe are available in Turkey?

Several alternatives to Stripe, including PayPal, 2Checkout, and PayU, are available for use in Turkey.

How can I obtain an Employer Identification Number (EIN) as a Turkey resident?

You can obtain an EIN by registering a US-based LLC as a Turkey resident. You can do this by working with a company formation service or an attorney specializing in business formation.

Can I Get A U.S.-based Address For My Business?

Yes, Northwest is a company that provides registered agent and business formation services in the US. They can help you obtain a US-based address for your business.