UK Stripe with UK LTD in non-supported country.

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eveningshot2

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Aug 22, 2020
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Hi guys,

I am currently living in a country in which Stripe does not support payment processing after I did the research I've set up a UK limited company for my store and a business registered address that can help scan and email forwarding the documents sent from the government.
And now I am going to apply for stripe also link my Shopify store to stripe, I was wondering do I need to have a VPN in the UK for verifying and processing transactions in the future if I am not based in the UK?
I am a little confused as some forming agency said ti will require one, some people that have been successfully using Stripe via UK limited said there's no need to use VPN.
Can you guys share some insights or experience on dealing with UK stripe, UK limited company in a non-supported country? thank you!
 
Dont need a VPN. People can of course work from other places than the country of incorporation. Only important thing for Stripe is that the company is a UK company, which is a country that is included in Stripes licenses. They just want to be compliant.
 
Dandyline said:
Dandyline said:
Dont need a VPN. People can of course work from other places than the country of incorporation. Only important thing for Stripe is that the company is a UK company, which is a country that is included in Stripes licenses. They just want to be compliant.
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Thank you for your helpful reply!! as when I linked my stripe account to shopify, it said
"Stripe is activated
You're now compliant with European PSD2 payment regulations."
Does it mean I can start using stripe and it will start paying out once has transactions or do I need to wait for a reviewing process? Thanks again!

Last edited: Aug 22, 2020
 
I am not sure, but I have heard that Stripe requires the director of the company to reside in the country of incorporation. Maybe someone else has some experience with that?
 
JustAnotherNomad said:
JustAnotherNomad said:
I am not sure, but I have heard that Stripe requires the director of the company to reside in the country of incorporation. Maybe someone else has some experience with that?
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Stripe are funny they make the rules up as they go along. The Director is required to have a EU residential address. Now having a company registered in one country and residential address in another can be a problem if the check. If all in the EU it can work. If residential address is outside of the EU they could reject you.

I would suggest getting a UK residential address as soon as possible just so it all tallies up. The other way you could have problems is the account you are using to receive the funds. Is that an EU bank?

marzio said:
marzio said:
This isn't the case as there are plenty of UK LLP with members not residing in UK. Probably you heard something about e-residents that need to reside in one of the Stripe supported countries.
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Yes but the responsible person of the account has to be in the EU. The other members can live on the moon.

I'm sure a few have gotten through and work just fine.
 
CaptK said:
CaptK said:
The Director is required to have a EU residential address
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This is not true.

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marzio said:
marzio said:
This is not true.

5IKyvu.jpg

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"A supported bank account"

"It would be possible"

Famous last words..........

Support and compliance are 2 different departments. Think of it as good cop, bad cop, it will save you the headache.
 
I understand that support and compliance are 2 different departments but how can you be compliant if nobody tells you that a director is required to live in EU? I personally know 2 guys who have a UK LLP, process payments with Stripe and live in Panama. Do you have personal direct experience with Stripe accounts closed because the owner wasn't resident in the country where the business was incorporated?
 
CaptK said:
CaptK said:
Stripe are funny they make the rules up as they go along. The Director is required to have a EU residential address. Now having a company registered in one country and residential address in another can be a problem if the check. If all in the EU it can work. If residential address is outside of the EU they could reject you.

I would suggest getting a UK residential address as soon as possible just so it all tallies up. The other way you could have problems is the account you are using to receive the funds. Is that an EU bank?
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hi! thanks for your reply! yes, I do have a UK bank account and business registered address to receive docs etc.
 
eveningshot2 said:
eveningshot2 said:
hi! thanks for your reply! yes, I do have a UK bank account and business registered address to receive docs etc.
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What residential address does companies house have on file for you. Not your business address.

JustAnotherNomad said:
JustAnotherNomad said:
What is their citizenship? Maybe that's what they look at...
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Not really its more where do they reside. Whats on file at companies house and proof of such.

marzio said:
marzio said:
I understand that support and compliance are 2 different departments but how can you be compliant if nobody tells you that a director is required to live in EU? I personally know 2 guys who have a UK LLP, process payments with Stripe and live in Panama. Do you have personal direct experience with Stripe accounts closed because the owner wasn't resident in the country where the business was incorporated?
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I guarantee they used a EU address for the application or at least one of the partners is EU resident or at least gave proof of an EU address.

Im not saying its not possible but from my experience so long as you can prove a residential address if they ask you will be fine.

Some do get through I have a client in Qatar who has no issues.
 
CaptK said:
CaptK said:
I guarantee they used a EU address for the application or at least one of the partners is EU resident or at least gave proof of an EU address.
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Can you please provide a link on Stripe support pages where they actually say that those are the requirements?
 
marzio said:
marzio said:
Can you please provide a link on Stripe support pages where they actually say that those are the requirements?
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It wont say it but i have personal experience with stripe, skrill and PayPal in this exact issue.

So that is why I always set my client's up with a UK address therefore so its not a question we have to answer. Thats just me.
 
eveningshot2 said:
eveningshot2 said:
Thank you for your helpful reply!! as when I linked my stripe account to shopify, it said
"Stripe is activated
You're now compliant with European PSD2 payment regulations."
Does it mean I can start using stripe and it will start paying out once has transactions or do I need to wait for a reviewing process? Thanks again!
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Yes, should be fine. You can start using it straight away.

marzio said:
marzio said:
Can you please provide a link on Stripe support pages where they actually say that those are the requirements?
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It's obviously not a requirement. Stripe cant know where you live and doesn't care. There are many international businessmen with companies in different countries using Stripe.
 
Dandyline said:
Dandyline said:
It's obviously not a requirement. Stripe cant know where you live and doesn't care. There are many international businessmen with companies in different countries using Stripe.
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thank you!! I really appreciate your help with this! I was wondering as I am trying to activate my account on strip dashboard, it prompts me into entering my home address, does that mean I should enter my home address(which is non-supported country) or my business registered address (which is in the UK)?
 
eveningshot2 said:
eveningshot2 said:
thank you!! I really appreciate your help with this! I was wondering as I am trying to activate my account on strip dashboard, it prompts me into entering my home address, does that mean I should enter my home address(which is non-supported country) or my business registered address (which is in the UK)?
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Enter the UK address
 
but it asks me to provide proof of address, how do I provide a proof of address if I don't actually live there and my logs of IP address are in a different country?a bit confused...

Last edited: Aug 23, 2020
 
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