Stripe makes it easy to accept payments online. However, if you live in Nigeria, it can be difficult to directly sign up for a Stripe account due to regulatory restrictions.
This guide will show you how to get a Stripe account when you seamlessly incorporate a U.S company using Norebase. With a U.S entity and bank account, you’ll be able to get your payout from X as long as you meet the criteria.
Is Stripe Available in Nigeria?
The answer is a bit technical. Stripe acquired Paystack in 2020 and they currently serve the African market via Paystack. However, if you want direct access to Stripe the best way is by getting a U.S bank account. Here’s a step-by-step breakdown of how to do that:
Step 1: Sign up for a US company registration on Norebase
Head to Norebase and create an account. You’ll need to provide some basic details about yourself and your company.
Norebase makes it simple to incorporate a company in the U.S and open a U.S bank account fully online without being physically present in America. It typically takes 5 – 7 business days to incorporate your U.S business. The price is $450 and this gives you access to:
- A US bank account (which you can use to open a Stripe account in minutes)
- A US business
- Employee Identification Number (EIN)
- Virtual address
To get your US business set up, you need a valid ID and a catchy name for your company.
It typically takes 2 – 6 weeks to get EINs when you incorporate in Wyoming in the U.S, but in some cases, you will be able to open an account without one if you incorporate with us.
Your business account is set up one business day after your company incorporation is completed.
This means that you can get your Stripe account set up soon if you start now.
Step 2: Obtain your EIN
With the Articles of Organization in hand, Norebase will promptly apply for an EIN on your behalf from the IRS. This tax identification number serves as a unique identifier for your US entity. This typically takes 2 – 6 weeks to get for a business incorporated in Wyoming and 5 – 8 weeks for a business incorporated in Delaware.
Step 3: Open a U.S Bank Account
As mentioned earlier, in some cases, before your EIN and other incorporation documents are available, Norebase will help you open a U.S corporate bank account with one of our partner banks that cater to foreign businesses. As part of our post-incorporation services, you also get a free virtual U.S address. This virtual address comes in handy if you want to do a dropshipping business or generally transact in the U.S.
Step 4: Set Up Stripe Payments in Nigeria
Once the U.S entity and bank account are confirmed, simply connect it within your Stripe dashboard through Settings > Business Settings menu in the Stripe Dashboard. You now have the ability to accept and receive payments from customers everywhere in the world and to enjoy Elon Musk’s Ads revenue sharing program.
Adding your bank account to Stripe
- Log into your Dashboard.
- From the Stripe dashboard menu, click on the Settings icon and go to ‘Business Settings’.
- If your Stripe account is based:
• In Europe, the United Kingdom, Hong Kong, Singapore, or Australia: Click on Bank accounts and currencies and then ‘+ Manage Currencies.’ Select the currency of the bank account to be added and then click ‘+ Add Bank Account’
• If your Stripe account is based anywhere else: Click on External Payout Accounts and Scheduling and then ‘+ Add Bank Account’
• Please note: In order to proceed with the subsequent steps, you may be prompted with a 6 digit code sent via text or email, and asked to re-enter your password. - Enter your bank account details.
- Click Add bank account to save
Please note: Only those with Admin or Owner permissions can add, edit, or delete bank account details.
By handling the entire incorporation and bank account opening process, Norebase removes barriers that creators often face when expanding across borders.
Note that this is a fully registered company for you – which means you can do any business and receive payments internationally.
Visit our website today to set up a U.S business and unlock your potential as a creator or business person receiving earnings via Stripe.
To register a business on Norebase, click here
To automate your tax processes, click here
For a complete guide to using Stripe in unsupported countries, click here
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