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It is the secret desire of any small or large business owner to be able to take his/her business brand globally at one major point in time.
Taking your business global have been seen as a very daunting task and process in the past years which has led major business ideas never to reach the global audience.
However the process of taking your business globally have been eased with the advent of the information age alongside the Internet.
Online services like Stripe Atlas have been created to do the heavy lifting for you and take care of the stress of taking your business to the global audience.
Benefits of Having a US registered Business.
Setting up a company in the US is the first step in creating a global brand.
Famous companies like Google, Apple, Facebook, Twitter, Uber, AirBNB and so many others were formed in America and expanded globally. Other companies started overseas, like Uniqlo, then became global brands after becoming successful in the US.
1. The favorable economic environment.
America is offering opportunities for foreign investors to purchase U.S. assets, including real estate, at lower prices than in their home country.
There are over 320 million wealthy people in the US making them the highest wealthy population after china.
There is maximum guarantee of success when doing business in the US than any part of the world.
2. Incentives offered by federal, state and local governments.
The U.S. government offers a myriad of assistance to U.S. businesses that will be available to you when you set up your U.S. business.
Incentives Like Business grants and acceleration programs are offered to businesses in the shores of the united states.
You can get access to such incentives when your business is registered in the US.
3. Your U.S. non-resident owned business gives you the same advantages and responsibilities as a resident owned business.
All businesses in the U.S. are treated the same, whether foreign or domestically owned.
This gives you the benefit of all the laws relevant to acquiring a business or transferring capital.
4. U.S. non-resident owned business gives you the same advantages and responsibilities as a resident owned business
All businesses in the U.S. are treated the same, whether foreign or domestically owned. This gives you the benefit of all the laws relevant to acquiring a business or transferring capital.
5. Protection of intellectual property.
The U.S. patent office receives approximately one million applications for patent or trademark protection.
6. Access to new markets.
The U.S. has trade agreements with 20 countries which provides a marketing advantage to U.S. based manufacturing companies.
This increases your market by 425 million people.
7. Technological advancements.
Starting a business in the U.S gives you access to various forms of technological innovation that any part of the world.
Many foreign investors are starting companies in the U.S Just to have access to the advanced technological innovations which will enhance their business production and world-wide communication.
8. Freedom Of stay.
Owning a business in the U.S allows you to stay as long as you might like.
Your chances of visa denial is very low or no chances at all.
If you dream of migrating to the U.S in a more easier and stressfull manner then you should consider starting a business in the U.S.
9. Access To Investors.
Also, if you’re really serious and ambitious about your business You should , having an American company can be a big advantage if you want to raise money with a top US investor at some point.
Investors are generally not looking for reasons to invest in your business, but for reasons not to invest in your business.
For an American investor, not being an American company (and especially not a Delaware one) can be a very good reason to eliminate you without even looking at what you’re doing.
What is Stripe Atlas ?
As a reminder, Stripe Atlas is a service that helps you start a global business from absolutely anywhere on the planet.
For only $500, and in timely fashion, they incorporate your company in the USA (Delaware, for obvious reasons), they help you open a Silicon Valley Bank account and the Stripe account linked to it.
Other perks include $15,000 of AWS Promotional Credits (via AWS Activate) and free (but limited) advising from Orrick and PwC.
Stripe Atlas is a powerful, safe, and easy-to-use platform for forming a company.
By removing lengthy paperwork, bank visits, legal complexity, and numerous fees, Stripe Atlas helps you launch your startup from anywhere in the world in the U.S which gibes you access to do business in all part of the world.
Stripe Atlas helps you:
1. Form a C Corporation in Delaware
2. Issue stock to founders of a C Corporation.
3. Obtain a U.S. Employer Identification Number (EIN) for tax purposes.
4. Open a U.S. business bank account.
5. Create a U.S. Stripe account to accept payments from around the world.
6. Connect to legal and tax experts.
Stripe Atlas Business Registration Requirements
There are requirements to get your business registered in the US and a very few important one s are.
1. A new or existing business.
Whether be it a new or an existing business, you can get a fully registered business in the US.You should also know that stripe Atlas has a certain limited amount of businesses that can be sign up via their platform and a very few number of them that are not accepted are.
1 . Securities brokers; mortgage consulting or debt reduction services; credit counseling or repair; investment services; real estate opportunities; lending instruments.
2. Financial institutions, money transmitters and money services businesses, check cashing, wire transfers, money orders; currency exchanges or dealers; bill-pay services; crowdfunding; insurance; bail bonds; collections agencies; law firms collecting funds for any purpose other than to pay fees owed to the firm for services provided by the firm (e.g., firms cannot use Stripe to hold client funds, collection or settlement amounts, disputed funds, etc.).
3. Virtual currency that can be monetized, resold, or converted to physical or digital products and services or otherwise exit the virtual world (e.g., Bitcoin); cryptocurrency mining equipment; initial coin offerings; digital wallets, sale of stored value or credits maintained, accepted and issued by anyone other than the seller.
4. Sales, distribution, or access to counterfeit music, movies, software, or other licensed materials without the appropriate authorization from the rights holder.
any product or service that directly infringes or facilitates infringement upon the trademark, patent, copyright, trade secrets, or proprietary or privacy rights of any third party.
use of Stripe intellectual property without prior written consent from Stripe; use of the Stripe name or logo including use of Stripe trade or service marks inconsistent with the Stripe Marks Usage Agreement, or in a manner that otherwise harms Stripe or the Stripe brand; any action that implies an untrue endorsement by or affiliation with Stripe.
5. Counterfeit goods; unauthorized sale or resale of brand name or designer products or services; sale of goods or services that are illegally imported or exported.
6. Lotteries; bidding fee auctions; sports forecasting or odds making for a monetary or material prize; fantasy sports leagues with cash prizes; internet gaming; contests;
sweepstakes; games of chance including legal or illegal forms of gambling, internet gambling, sweepstakes and contests with a buy-in or cash prize; charity sweepstakes and raffles for the explicit purpose of fundraising.
7. Cannabis dispensaries and related businesses.
sale of tobacco, e-cigarettes, and e-liquid; online pharmacies; prescription-only products including card-not-present pharmaceuticals.
peptides and research chemicals; fake references or ID-providing services; age restricted goods or services; weapons and munitions.
Gunpowder and other explosives, fireworks and related goods; toxic, flammable, and radioactive materials; products and services with varying legal status on a state-by-state basis; goods or services, the sale of which is illegal under applicable law in the jurisdictions to which your business is targeted or directed.
8. Pornography and other obscene materials (including literature, imagery and other media) depicting nudity or explicitly sexual acts; sites offering any sexually-related services such as prostitution, escorts, pay-per view, adult live chat features.
Sexually oriented items (e.g., adult toys); adult video stores and sexually oriented massage parlors; gentleman’s clubs, topless bars, and strip clubs; sexually oriented dating services.
9. Investment opportunities or other services that promise high rewards.
10. Sale or resale of a service without added benefit to the buyer; resale of government offerings without authorization or added value; sites that we determine in our sole discretion to be unfair, deceptive, or predatory towards consumers.
11. Pyramid schemes and multi-level marketing.
12. Sale of Twitter followers, Facebook likes, YouTube views, and other forms of social media activity and online traffic.
13. Sale of in-game currency unless the merchant is the operator of the virtual world.
2. A website/ Landing Page.
Come to think of it, Strip Atlas has no way of verifying the validity of your business, therefore the only way this can be done is the use of website.
Your website should actually tell about your business, what you do and details of how you intend to operate.
You can check out my article on Blogging.
3. A Government issued document.
This can be a national identity card or an international passport.
You will be prompted to fill in this details.
stripe atlas llc
4. A Co – Founder.
A Co – Founder is needed to complete your business details with stripe Atlas.
You would be asked to state out the percentage share while filling your stripe atlas form.
5. Little Cash.
stripe atlas fees
Stripe Atlas has a one-time $500 (USD) fee for all successful applications. We’ll take your payment details with your application submission, but will not charge you until your company is fully established.
How To Register Your Business Using Stripe Atlas.
Here is a walk through process on how to actually get started with your Strip Atlas business registration.
1. Login to Stripe.com.
You can login Via desktop or mobile. I prefer the undergoing the process via desktop
2. Sign Up for a Stripe Account.
All you would be prompted for is your Full Name, Email and Password.
You also would be asked to verify your email address.
Make sure to use a very strong password when initially creating an account.
3. visit the Atlas section of stripe.
Stripe has many subsidiaries and one of them is Atlas.
4.Fill In your Company details
This section would walk you on creating your Business.
You would be prompted to fill in your business details like .
- Tell Us About Your Business.
- Tell Us About Your Company.
Frequently Asked Question About Stripe Atlas.
Here are Some very few questions you might want to ask about the Strip Atlas program.
1. Who should use Stripe Atlas ?.
We designed Stripe Atlas for founders of startups. Thousands of entrepreneurs from more than 140 countries already use Stripe Atlas. We’ve found it to be particularly suited to founders planning on:
- Raising venture capital
- Offering employee stock options
- Building products for a global customer base
- Expanding operations in the U.S. (for non-U.S. companies).
2 Who cannot Use stripe Atlas.
Due to government and financial-partner restrictions, Stripe Atlas is currently unavailable to businesses with operations in certain countries, including.
- Central African Republic
- DR Congo
- North Korea
- South Sudan
3. What kind of company can i build with stripe atlas ?
Stripe Atlas supports these options for forming a U.S. company in Delaware:
- C Corporation
- Limited Liability Company (LLC).
4. How Do i choose the best company Type ? .
Stripe Atlas is available to entrepreneurs around the world, and founders from more than 140 countries have started a company with Atlas. There can be significant legal complexity, and there are additional tax considerations, for members of an LLC who live outside the U.S. or who are not U.S. citizens or companies. Thus, LLCs are typically not chosen by non-U.S. founders or startups thinking about raising money.
For example, forming an LLC might create U.S. personal income-tax obligations for a non-U.S. owner. This can get complicated fast, so we recommend speaking with an accounting or legal advisor to determine what is best for your business.
5. How much does Stripe Atlas cost ?.
Establishing and running any business has both initial and ongoing costs. Stripe Atlas has a one-time fee of $500 (all prices are in USD) that covers:
- Forming your company in Delaware
- Delaware state filing fees
- Signed documents to establish company rules and protect intellectual property
- Tool to issue stock to founders of C Corporations within 90 days of incorporation
- Opening your business bank account (at Silicon Valley Bank, or through Azlo), if you choose to do so
- Registering your company with the U.S. Internal Revenue Service (IRS)
- Your first year of Delaware registered agent services
- Access to the Stripe Atlas Community
- Free templates for post-formation legal needs.
6. How much Do i have to Pay on a yearly or monthly basis.
After getting set up, you pay ongoing fees associated with the Stripe Atlas services. These include: standard U.S. Stripe fees on applicable Stripe activity, such as accepting payments; maintenance fees for your business bank account (if you choose to open an account at Silicon Valley Bank when incorporating a C Corporation); and yearly fees to maintain your registered-agent services.
Running a business in the U.S. comes with significant obligations, which might include:
- Complying with applicable laws
- Paying U.S. state and federal taxes each calendar year your company is active
- Maintaining a Delaware registered agent (currently available to Stripe Atlas users at a cost of $100 per year)
- Filing annual reports with the State of Delaware (required for C Corporations)
- Ongoing registration, reporting, and/or tax-paying requirements of the locations in which your business operates
Upon completing the Stripe Atlas application, you’ll have a new U.S. Stripe account that you can use for test transactions. This allows you to start working on your integration while your account progresses.
Once you create your business bank account whether using Stripe Atlas or on your own, you can start processing live payments