You want to know how to use Stripe in Nigeria?
Stripe is an online payment processing for internet businesses. It builds the most powerful and flexible tools for internet commerce.
Whether you’re creating a subscription service, an on demand marketplace, an e-commerce store, or a crowdfunding platform etc stripe helps you accept payment without stress.
Stripe payment gateway is unfortunately unavailable to Nigerians, and it has become a pain to anyone running an online business and wishes to use stripe to accept payments.
Stripe is easy to setup with seamless integration, with attractive features and prices. No activation or setup fees, just a 2.9% + 0.30 cents per successful card charge.
In this guide, you’ll learn how to open a stripe account in Nigeria (verified stripe account ) and you can then integrate into your ecommerce store/business website and start accepting payments in different manners.
If you need a verified stripe account to accept payments online, maybe on your shopify store or anywhere, read along.
As for Nigerians, I keep getting the question:
- Can I use stripe in Nigeria?
- How to set up verified stripe account in Nigeria?
- How to use stripe in Nigeria.
- … and lot’s more.
Whatever is your country, India, Nigeria, Pakistan and non-us citizens, you’re welcomed to follow the guide on this blog to setup a verified stripe account.
Over the years, I have been able to help hundreds of people start accepting international payments using Stripe, and below were few of them.
I will be revealing this exact method which you can use to comfortably setup your Stripe account irrespective of your country and start accepting payment right away!
The information is FREE, it’s like the other similar blog posts I often make, right now I’m creating authority, trying to let you know I’m in the right position to teach and guide you how you can achieve this without breaking the bank or selling your soul.
With over 7 years of experience, and having helped hundreds and reached thousands of people, you have to believe this strategy.
How to Create a Stripe Account in Nigeria
To create a stripe account in Nigeria legally and start accepting payments, you will need the following requirements:
- LLC/US Company Formation
- EIN Number
- US Phone Number
- US Address
- US Bank Account
Getting Started: Register a US Company
At the time of making this post, Stripe currently accepts over 54 countries and as someone that’s NOT from any of the supported countries, to have access to Stripe you need to form a company in any of 54 Countries.
Since you’re not from any of those countries based on citizenship, you can have access to the countries based on “Business Mode“, and this is legally accepted by stripe.
While signing up on Stripe, they will ask if you’re signing up as an Individual (Citizenship) or as a Company (Business).
United States, been one of the most popular and most sorted after by many businesses and having been accompanied by loads of benefits, it’s recommended to Form a US Company, in other to setup your US Business stripe account successfully.
The US Company can be your store, website or business name, or any generic and unique name you’ve come up with.
The most exciting part of this is, you don’t need to change your IP ADDRESS by using a VPN.
Forming a US Company is the ONLY option as a non-us citizen if you want to have access to Stripe LEGALLY.
Forming a US Company can be expensive depending on the formation company you used, and can spend over $600 – $1,400 to form your US Company and acquire your EIN Number.
However, you don’t need to spend that FORTUNE, as it’s a bit ridiculous especially for a beginner.
You will discover how you will be able to get all the requirements from A-Z with less than $100, you don’t need to break the bank or sell your soul or go over your budget.
To form your US Company, you have to choose a state among the 54 states in United States of America and we recommend the following:
- Missouri ($51 one-time filing fee and $0 annual/yearly fee)
- Kentucky ($40 one-time filing fee and $15 annual/yearly fee)
An example of an expensive state is California that charges $70 filing fee and $800 annual/yearly fee and you wouldn’t like to go through that route.
If you formed your LLC in Delaware, you’ll pay $300 annual tax fee with an expensive filling state fee to form the LLC?
As a non-us citizen, you should probably go for the affordable state for peace of mind.
However, to form your LLC and get your EIN Number to setup shopify payments with less than $100, we will be using IncAuthority, they’re the best in the industry, and with them, you will get the most affordable services.
We’re going to recommend an affordable way to form your LLC and EIN to setup your Shopify Payments with less than $100. and you can’t find this offer anywhere except here.
How To Form a US Company Using IncAuthority
If you’ve decided to start your LLC and most especially with less than $100, then you can go ahead and form your LLC as soon as you can before it’s too late.
At Inc Authority, you’re going to form your LLC and get your EIN/TAX ID. Follow the simple guidelines below to complete the signup. It’s easy and takes just a few minutes. All you have to do is choose your state, enter your business name, and form your LLC!
Step 1: Go to IncAuthority.com
When you arrive at IncAuthority.com, click on the “start now for free” tab.
Step 2: Select Entity Type and Filling State.
In your entity type, select Limited Liability Company (LLC) and in the Formation State, select Kentucky or Missouri.
Click on Save & Continue.
Step 3: Enter Your Personal Details
In this step, enter your First and last name, email, and contact phone number.
You’ll need a US Phone number, download DingTone from the play store or app store and buy a US Phone Number.
Also, below the form, you can add extra partners if you’re more than 1 person who owns the business.
Click on save and continue.
In the next section, they will ask you little questions about your business, you can select Yes or No in all of them, and they will ask the type of business you do, then you can select your category from the dropdown.
Step 4: Enter Your Business Details
Enter your choice or Business Name and business description (if you have a clothing online store, say you have an online and you sell clothing and apparel).
A brief description of your company, a sentence or two describing your business.
Select your business benefit and click save & continue.
Step 5: Business Address
You need a US Address to continue in this step, go to Shipito.com.
You’ll get a US address instantly, use it, and continue your signup. Takes just 1 minute.
In the next section, you can continue as a guest or create an account with them.
Step 6: Registered Agent Service
Select the registered agent service and proceed to the next step. This option will give you a registered address which you can use for your business and online applications.
Step 7: EIN/Federal TAX ID
As a non-us citizen, your EIN (Employer Identification Number) will serve as your SSN (Social Security Number).
If you form a US Company, your EIN Number will basically serve as your SSN. Even without being a US Citizen, you’re enjoying the benefits. EIN is one of the requirements Stripe will request for when signing up. This is more like your IDENTIFICATION!
The interesting part about Inc Authority is they get an EIN for you at $49, which is considered as the cheapest place to get one. Others charge from $95 and above.
You need to include the EIN/Federal Tax ID which is very important!
Click save and continue.
Step 8: Addons
The next pages contain Addons and they include the following:
- Operating Agreement – $89
- Legal Document Package – $89
- Minutes and Resolution – $89
- 24 Hour-Express Processing/Express Delivery –
$49FREE (you can select this option if it’s free at the time of forming your company, but if it’s not free, you don’t have to add it because, it’s not cost effective and you need your LLC + EIN to be available before you setup Stripe or Shopify Payments) Normally, your LLC will take 4-5 days to be formed.
- Online Business Presence – $9
- INC Success Advisor – $177
- US Business Bank Account – FREE (you can add this or not, but they always require a deposit before using the bank account) there are other free options you can use e.g Mercury.com
So you can skip the PAID ones, until you get to the payment stage.
Step 9: Make Final Payments
In the end, you’ll only be paying for State Filing Fee (fee paid to the state government to form your LLC) and EIN.
Other formation companies charge a lot for offering this service but IncAuthority Charges $0 Service fee.
Now you need to make payment using either Debit/Credit Card or PayPal.
For the Delivery Option, you can select $0 free delivery (Electronic Delivery) and they will be delivered to your email.
How long does it take to form your LLC + EIN?
Answer: It takes less than 7 days for your LLC Formation to be ready and it takes 90 days for your EIN/TAX ID to be ready via FAX from the IRS (for foreigners/non-us citizens).
How to Get a US Business Bank Account Using Your LLC
You need a US Bank account where Shopify will deposit your earnings to, and you can also withdraw these funds from your US bank to your local bank account.
Luckily, in this post, you will discover how to do this at the comfort of your home and without living your country, and you don’t need to pay someone to do it for you.
How to Setup Stripe The Right Way Using Your US Company and EIN
Now, you’ve successfully gotten the requirements and it’s time to setup your stripe account the right way using your LLC + EIN Number.
I have prepared a free video tutorial on to set it up, it’s completely free, click here to download it.
In this video I discussed the following;
- Setting up Stripe the Right Way
- Registered Agent Address (address to signup on Stripe)
- How to Fill the SS-4 Form (Applying For EIN Number)
After following the guides on this post, you should be able to form your LLC, get your EIN and setup your stripe account for your business.
Here’s the summary:
- Form your LLC and EIN at IncAuthority.
- Get the free video tutorial on setting up stripe using your LLC + EIN here.
- Start using Stripe for your business!
If you have any questions and confused at any process, do let us know by dropping it at the comment box.
Don’t forget to share! It’s quite a helpful guide on how to open a stripe account in Nigeria (for non-US citizens or residents (Non-Supported countries) !