Stripe Atlas

#1

Post by hepha1979 » Wed, Feb 24, 2016, 1:12 PM UTC

Re: Stripe Atlas

#2

Post by StripeNoGood » Wed, Feb 24, 2016, 1:19 PM UTC

Funny, I have a Delaware LLC company registered in USA (it's an offshore company) but my bank account is outside the US (completely legal), yet Stripe denies me right to open an account and accept the payments.

Now I read about this Atlas, what a hypocrisy...

I happily use PayPal since then.

Re: Stripe Atlas

#3

Post by vruiz » Wed, Feb 24, 2016, 1:19 PM UTC

This almost seems too good to be true. What's the catch?

Re: Stripe Atlas

#4

Post by akhatri_aus » Wed, Feb 24, 2016, 1:22 PM UTC

vruiz wrote: post #3

This almost seems too good to be true. What's the catch?

How so? You can do it currently without Stripe anyway? (Set up a US Delaware company and use Stripe USA to accept payments)

Re: Stripe Atlas

#5

Post by Wintamute » Wed, Feb 24, 2016, 1:23 PM UTC

vruiz wrote: post #3

This almost seems too good to be true. What's the catch?

No catch maybe, but Stripe siphon off 2.9% of global startup profits into a US company. Sounds like a great business idea to me :-)

Re: Stripe Atlas

#6

Post by koolba » Wed, Feb 24, 2016, 1:23 PM UTC

Interesting angle. For a while I've wondered why nobody does a tech/startup version of "Company in a box". This looks like it's exactly that. Incorporation, payment processing, the works.

Is Stripe getting a cut of the eventual revenue from the service providers that are providing the offerings? What's the incentive on their side? Or are they just hoping to scrape by on the transaction fee revenue (which are way less than people think they are because they pay out most of it upstream[1]).

Also, what's the expiration on the $15K of AWS credits? The usual one year or longer?

[1]: If you're wondering why just think about how you get "1% cash back on all purchases!".

Re: Stripe Atlas

#7

Post by adhipg » Wed, Feb 24, 2016, 1:23 PM UTC

How does taxation work in this scenario? I'm imagining that all profits(?) will be subject to US taxes.

Would the company that Stripe help register in the US be a subsidiary of my existing company (not registered in the US)?

Re: Stripe Atlas

#8

Post by vruiz » Wed, Feb 24, 2016, 1:25 PM UTC

akhatri_aus wrote: post #4

vruiz wrote: post #3

This almost seems too good to be true. What's the catch?

How so? You can do it currently without Stripe anyway? (Set up a US Delaware company and use Stripe USA to accept payments)

I've seen similar services for higher fees. But opening a US bank account without visiting the US? That I have not seen.

Re: Stripe Atlas

#9

Post by michaelschade » Wed, Feb 24, 2016, 1:26 PM UTC

adhipg wrote: post #7

How does taxation work in this scenario? I'm imagining that all profits(?) will be subject to US taxes. Would the company that Stripe help register in the US be a subsidiary of my existing company (not registered in the US)?

Good question! Every company’s situation will be different (which is one of the reasons we’re working with PwC to provide expert tax guidance and education). But generally speaking, companies that are incorporated in the US will need to pay US taxes, and may also pay taxes in their local jurisdiction.

The corporation we help you setup in the US would be a new entity.

Re: Stripe Atlas

#10

Post by seizmo » Wed, Feb 24, 2016, 1:27 PM UTC

Knowing the ridiculous U.S. tax laws (e.g. you once had an Green Card and now they want to tax you pretty much for the rest of your life regardless of where you live and work), overboarding bureaucracy and general lack of legal security (e.g. frivolous patent lawsuits), I would certainly open my business pretty much anywhere else.