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Cheapest Way to Register Firm in USA and Get Bank Account for Payments Gateways
We were using 2checkout in the past for accepting payments through credit cards but since the 2co abandone the direct processing of credit cards our sales have declined. So the best way we can think of is to get the firm registered in USA and get stripe or some other payment gateway. We are Pakistan based and the new born fintechs here a have a long way to go.
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https://stripe.com/atlas
that's the costliest one I found. On second number https://www.firstbase.io/ comes. So anything better than these two would be great.
Wow that's cheap both Stripe and firstbase. I only saw more expensive for USA yet.
If EU also okay you can check xolo.io also
Otherwise I only know agencies to open offshore company in countries like BZ or Seychelles, starting at 1399$.
And agencies for British Ltd.
yeah location is not that much preference.....getting a famous payment gateway for procesing of credit cards is.
UK is the cheapest
https://www.yourcompanyformations.co.uk/
https://www.1stchoice-formations.co.uk/
In Romania it costs like 1000 Lei to register a company which is about 200 Eur. You need to find an accountant to manage it, though, that would cost 100 Eur a month or so.
In all most of those cases, you'll have a hard time getting a bank account afterwards. Also be mindul of where you are based and how that may affect taxation of you and the business.
(disclaimer: talk to an accountant that actually knows how to deal with that.)
It's not hard at all to get a US bank account once your encorporated.
A business entity is essentially treated like an individual.
All you need is the EIN.
Now this is a topic that I am highly familiar with and am able to assist with. Maybe I will consider offering my knowledge as a service.
I wasn't aware of https://firstbase.io as I don't really research the players out there since I know what needs to be done on my own already. I will say that their price of $399 is not overly unreasonable. To do it for much less you are going to have to do it on your own.
Doing it on your own is indeed much less expensive, but you need to know the proper steps to take. So, even doing it on your own for many means involving a formation company. The one my company used actually cost $199. If I had done it completely on my own I could have gotten that down to $125, so not a real huge amount of savings. In my case, I formed a LLC, and I formed it in a state with no annual report or franchise fee. Every state varies. DE for instance requires a annual franchise fee of $300. CA is $800! I do not know offhand about WY.
So, there is a lot to do to research to get the proper fit. Looking back now, the state I chose is not going to be the best choice for me in the long run as situations have changed. So, you really need someone to look at your situation in depth and then advise which state would be preferable. I don't have a provider tag here and I am not paying $200 a year to get one @jbiloh ... I have to wonder if there is a consultant tag available?
Anyways, feel free to reach out to me to further discuss.
@HostMayo why you dont go with Meezan merchant its quite better then alflah we are with them since few months its working fine yet in BETA but if you want i can ask them to enroll you as well because we are connected with there Dev. teams
i can help you to get registered in UK because recently i hired one person for my company formation
@AK_KWH thats so nice of you. I saw these banks (HBL,UBL) have recurring annual fees of over 40,000 per year which is not justifiable.
What would be the expense for registering a firm in UK one time or/& recurring.
...
40,000 what? Could you translate that into USD?
@HostMayo in Pakistan you have to pay it they charge for the security only because we only have a this option right now
he is offering different plans DM me i will share his # so contact him directly
1USD = 178 PKR so its about 225$ fee just for using their payment gateway.
I have applied to https://getsafepay.pk/ which doesn't have this insane pricing model. If it works out, it will surely be a relief.
Ahh, ok. US banks charge similar .... Stripe isn't really a "merchant" account per se.
Maintaining a US LLC/Corp or UK LTD will cost just as much, so it may not be a bad idea to check out what your banks charge.
You can try mycompanyworks.com
Wyoming LLC + https://mercuryo.io/
30th march you also need Paypal Business account to accept Paypal via 2checkout.com @HostMayo ?
Not possible to accept this payments without Paypal Account anymore. They are switching to the PSP model.
We just received the email.
Looks like 2checkout is worthless now. Time for us as well to move.
Could just directly accept Paypal then and switch to Stripe as well. 2co fees are high and weekly payout take 1 week to appear on our Bank. So 2 weeks total to wait for our money.
Not worth it anymore
Gone downhill since they owned by Verifone
And every few months I need to send New documents (utility bills) for their KYC and Compliance.
Why do I do all that lol
i think before you moved to paypal what issue u faced there? i already switched from 2co since they stop accepting CC
Yes you are correct.
I use 2checkout since 2012.
Before in 2021 moved away because they wanted additional 1000€/year fee for VISA/Mastercard. The fees where already high. They closed my account as i didnt accept and escalate.
Then PayPal (since it was new VERIFIED account i created because of that) hold money every month 21 days after more then 5000€/m, which is completely BS. Thats nothing, 21 days affect Cashflow of my business. So i wanted to move again to other gateway for PayPal.
Got some other up for CC too
I reached out to 2co again if we can sort something without, they told me NO 1000€/year fee. Okay, made new account. Since then I use them again.
Meanwhile PayPal raised my limit now to 4x the amount (i created direct payments for good customer to it also but mainly 2co) so it would be OK to accept PayPal directly. Most payments go elsewhere anyway so i can wait for the rest but old limit much too low.
--
Now 2checkout from 30th march is going to switch over for ALL merchants to PSP model, so you basically use your own PayPal account with them.
Im may complete leave 2co now as well^^
I think UK LTD would be cheapest to start with.
Who will trust them for now?
There are probably many ways of achieving the result, but I use Starling Bank for my company as they offer a business-only USD account for £5 per month that can send and receive payments via ACH but not Swift. You can move money between accounts at will, forex fee is 0.4%.
Agree, great experience.
You can google and find 15% discount. 10% is anywhere, so if you will not find it, then send message, i'll share.
thats insane for asking KYV
We are already accepting paypal directly. The only purpose of 2co was to process cards and now they do so through paypal which is not supported in most countries.
Also just got email from 2CO
2CO is already useless to us...it doesnt matter.
we already have payoneer for that and no body on internet pays through ACH ...atleast my clients dont pay using bank accounts. All we needed was a simple CC processor. @AK_KWH has suggested me a bank and I am working on it.
Wowwh
Following. Interested to know what other options are there than starting a Wyoming company and then going with Stripe for Credit Card Processing... Any other reputable US based Credit Card processor that supports Subscriptions?
I think Squareup support subscriptions and Wells too