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Question after failure to get a payment processor for USA LLC looking for another option to choose where to form my Dropshipping company?

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shaka

New member
so for the last 4 months, i have tried every payment processor in the USA like stripe, Paypal, 2checkout, and shopify payments to get hold of a payment processor account most of them labeled my dropshipping business as high risk and won't give me an account unless I have a utility bill in the name of my USA LLC or I got my 1500$ stuck in GayPal i tried many merchant account companies who have the same requirement to either be US resident or provide a proof of utility bill in the name of my company most of the virtual offices don't allow a utility hooked up on their premise or charge a ridiculous amount to hook it up which still doesn't ensure that my merchant account would be accepted so after losing the battle I finally need some help to where should I form my company so I can easily get a payment processor and a merchant account as I cross the 10000$ mark in processing I cant lose anymore money setting up these companies so any one of you experienced guys out their please help me out how to take my next step in company formation
 

Mark Rucken

Entrepreneur
UK LLP + TransferWise + Stripe. It works perfectly for me and I (and my business partner in UK LLP) are not UK residents. Stripe never asked for any kind of proof of address/utility bill in the UK.

If your business is high risk and they have a special requirement for onboarding, that is a different story.
 

shaka

New member
well its dropshipping business and everyone label it as a high risk because of high charge back rates
will I be able to get a merchant account as well if stripe goes down for some reason(happens very often)?
thanks for your input tho I was thinking the same
 

Mark Rucken

Entrepreneur
LTD and LLP are same thing or different in any aspect?
Completely different. LLP is a Partnership with at least 2 partners in the ownership structure. LLP generally does not pay profits tax if the income is not generated in the UK.

LTD is a "standard" company with sharehodlers and profits tax
 

shaka

New member
oh right thanks for the info again any leads on merchant accounts if I would be able to secure one of those being a non UK resident?
 

Nomad777

New member
Completely different. LLP is a Partnership with at least 2 partners in the ownership structure. LLP generally does not pay profits tax if the income is not generated in the UK.

LTD is a "standard" company with sharehodlers and profits tax
Hello Mark, so your saying i can create an LLP company in the UK and pay no taxes if the money is made elsewhere? and is it easy to open an LLP company and to open bank accounts with it?
 
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