Stripe Atlas Review

JackobyJenkins · Feb 27, 2020

Hello,
I just started a Stripe Atlas, they accepted my registration, and I already signed the documents for them.
I would be interested if any of you already did Stripe Atlas, if it is as good as it looks like?!
The payout period is 2 days or 7 days? Do they play the same way with Atlas users than normal registered stripe users? I mean when back in 2018 I used stripe, randomly they either put me on a 90days hold, or sent me the email that I'm too risky, and the refunded to all my costumers.
Already two years passed, and still, I have worries regarding this.

Thank you,

royserpa · Feb 29, 2020

Stripe is always risky, man.
Atlas makes you look legit, but as always, it comes down to what you sell on your site.
2 days after they verify your site, earlier than that is 7 days.

JackobyJenkins · Mar 1, 2020

royserpa said:
Stripe is always risky, man.
Atlas makes you look legit, but as always, it comes down to what you sell on your site.
2 days after they verify your site, earlier than that is 7 days.

I tought, if they accept me after checking my website, and they make me a company, that's already enough for the 2 day payout schedule.

iki · Mar 14, 2020

Hi, how is it going mate is your company ready? Im also thinking to make new company through Stripe Atlas, however I worry about taxes, I dont understand everything very well. For example what if you have clients within the USA do you have to pay sales tax to each state where purchase is made from? I know there is minimum threshold for each state and if you go over the limit you have to pay it, but also each state can change something anytime and its hard to monitor all this. Also, if you sell to any other international market with Delaware LLC do you have to collect VAT (for the EU countries) GST (Australia) and then pay it to tax government from where the purchase is made of your service, product. If you know about this please let me know.

JackobyJenkins · Mar 17, 2020

luc1fer said:
know there is minimum threshold for each state and if you go over the limit you have to pay it, but also each state can change something anytime and its hard to monitor all this. Also, if you sell to any other international market with Delaware LLC do

Yesterday i received my EIN for the company, and I'm ready to use it!
Regarding the Payout schedule, I don't know anything, as soon ill start using it, i will update the post, and write an honest review.

Impressor · Apr 23, 2020

luc1fer said:
Hi, how is it going mate is your company ready? Im also thinking to make new company through Stripe Atlas, however I worry about taxes, I dont understand everything very well. For example what if you have clients within the USA do you have to pay sales tax to each state where purchase is made from? I know there is minimum threshold for each state and if you go over the limit you have to pay it, but also each state can change something anytime and its hard to monitor all this. Also, if you sell to any other international market with Delaware LLC do you have to collect VAT (for the EU countries) GST (Australia) and then pay it to tax government from where the purchase is made of your service, product. If you know about this please let me know.

I have a similar concern about the sales tax (or VAT, GST) implications on every invoice I generate, whether for a US client or elsewhere.

I have an Indian based company (I'm Indian too) and I wish to register an LLC (or C Corp) in my name (or my Indian company's subsidiary). This is basically so that I can receive money in my bank account without any conversion charges. By my calculations, whether I use stripe India, or any Indian payment processor (like razorpay, CCavenue, citruspay, etc) I'll effectively lose atleast 5% extra in currency conversion charges and lower INR exchange rate quoted by these organisations. This 5-6% is beyond the min 2-3% they would charge for Credit and Debit Card payments.

Yeah, so basically, apart from other possible benefits of registering an offshore company (in Delaware, Wyoming, etc), I want to open up a bank account and have an EIN. I have Mercury bank in mind, as they clearly boast on their website their doors are open to all Non-US residents who can open an account remotely.

If you have any clue about it, please let me know. You can PM me if it's now much.

Thanks.

iki · Apr 23, 2020

Stripe Atlas allows only C Corp registration for non-US residents, no LLC. I decided to go with company in my own country you not get all benefits like US based company, can’t work with Stripe but there are other payment gateways too, and at least I know what I must deal with. You have to collect sales tax in every country where your customer is based if you sell digital goods or services and then pay the tax to that country, ofc if you want to do all legit. Maybe you can get away and not pay if you are under the radar, but I would not do this because if you are caught one day they could ask you to pay taxes for many years back. So if you sell in EU no matter where your company is based you must charge VAT from the first sale and use MOSS to report it. I think USA and Australia have minimum thresholds but you better check all with some professional tax advisor.

cladproxy · Apr 28, 2020

JackobyJenkins said:
Yesterday i received my EIN for the company, and I'm ready to use it!
Regarding the Payout schedule, I don't know anything, as soon ill start using it, i will update the post, and write an honest review.

what is your company about? what did you shown to stripe as website to get your atlast account approved?

thanks

jonathan169 · Nov 16, 2021

Impressor said:
I have a similar concern about the sales tax (or VAT, GST) implications on every invoice I generate, whether for a US client or elsewhere.

I have an Indian based company (I'm Indian too) and I wish to register an LLC (or C Corp) in my name (or my Indian company's subsidiary). This is basically so that I can receive money in my bank account without any conversion charges. By my calculations, whether I use stripe India, or any Indian payment processor (like razorpay, CCavenue, citruspay, etc) I'll effectively lose atleast 5% extra in currency conversion charges and lower INR exchange rate quoted by these organisations. This 5-6% is beyond the min 2-3% they would charge for Credit and Debit Card payments.

Yeah, so basically, apart from other possible benefits of registering an offshore company (in Delaware, Wyoming, etc), I want to open up a bank account and have an EIN. I have Mercury bank in mind, as they clearly boast on their website their doors are open to all Non-US residents who can open an account remotely.

If you have any clue about it, please let me know. You can PM me if it's now much.

Thanks.

I know this is 4 years ago, but how did this work out, I looked at Mercury yesterday (15/11/21) and they needed a ITIN not just an EIN so I was really confused, and oops another application????. I am also interested in a WY LLC, but it seems very diff to get a Business Bank now w/o actually turning up at the branch, which atm with covid problems is a no brainer for me never mind the cost. Any advice based on your experience, I would be grateful.

APinkPanther · Oct 23, 2023

So does anybody else have any experiences with forming LLC in US from outside using Stripe Atlas or any other provider and opening bank accounts etc?

I’m in the same boat but not sure if opening LLC would be worth it.

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