Getting approved by a US payment processor is one of the most important milestones for any non-resident running a US LLC. Without Stripe, PayPal, or a comparable platform, your ability to accept US customer payments at scale is severely limited. Major US payment processors fully support foreign-owned US entities — but they have specific onboarding requirements that are worth understanding before you apply, so your application goes through without delays or rejections.
The Universal Requirements
Regardless of which payment processor you are applying to, every major platform requires the same core documentation for US business accounts. These requirements exist because payment processors are regulated financial institutions — or work directly with them — and are subject to KYC and AML obligations under US federal law.
- EIN: Your company's federal tax ID from the IRS. Non-negotiable — no major payment processor will approve a US business account without one
- US LLC formation documents: Articles of Organization or Certificate of Formation as filed with your state's Secretary of State
- US business bank account: A US routing number and account number for fund settlement — Mercury, Relay, or Wise Business all work
- Beneficial owner identification: Passport or government-issued ID for each owner or controller of the LLC, and sometimes proof of residential address
- Business description and website: A clear description of your business activities and a functioning website or online presence that compliance teams can verify
Stripe-Specific Requirements
Stripe is generally the most straightforward payment processor to onboard with as a foreign-owned US LLC. The application is completed entirely online, and Stripe's compliance team is experienced with non-resident beneficial owners. Stripe asks for your LLC's legal name, state of formation, and EIN; the beneficial owner's full name, date of birth, home address (which can be outside the US), and a copy of government-issued ID; and may request a void cheque or bank letter confirming your US bank account details.
Stripe's automated review system approves many applications immediately, but applications from foreign-owned entities are more frequently escalated to a manual compliance review taking one to three business days. Having all documents ready in advance speeds this up considerably.
PayPal-Specific Requirements
PayPal's onboarding for foreign-owned LLCs is slightly more involved than Stripe's. In addition to the standard requirements, PayPal typically asks about expected monthly transaction volumes, the nature of your products or services, and whether your business falls into any of PayPal's restricted or prohibited categories. Ensuring your business category is clearly and accurately described is important — vague descriptions are a common reason for PayPal applications to be flagged for additional review.
PayPal may place transaction limits on new accounts until your account history demonstrates consistent legitimate transactions. These limits typically lift within the first three to six months of active use, provided there are no significant disputes or chargebacks.
Square-Specific Requirements
Square's onboarding process is similar to Stripe's in structure. For a US LLC you'll need your EIN, formation documents, a US bank account, and personal ID for the beneficial owner. Square is particularly relevant for founders who plan to accept in-person payments in the US. One practical note: Square's hardware ships to US addresses by default. If you need hardware at a US event or location, arrange a US delivery address — a colleague, business associate, or fulfilment service can receive hardware on your behalf.
Restricted and Prohibited Business Categories
Every major payment processor maintains a list of business categories that are restricted (requiring additional documentation) or prohibited (ineligible for accounts entirely). Common restricted categories include financial services and money transmission, cryptocurrency and digital assets, pharmaceuticals and supplements, certain subscription models, adult content, gambling, and firearms-related businesses.
If your business falls into a restricted category, contact the processor's merchant services team before applying to understand what documentation is required. Applying and hoping the restriction goes unnoticed is far riskier than disclosing it upfront — the discrepancy discovered during review is more likely to trigger rejection than the restriction itself.
The Correct Application Sequence
The strongest applications share the same characteristics: the business name on the application matches the EIN exactly, the beneficial owner's ID is clear and current, the business description accurately reflects what the website shows, and the US bank account is already open and active before the application is submitted. The ideal sequence is: form LLC → obtain EIN → open US bank account → apply to payment processors. Each step enables the next.
Need Help Getting Ready?
Our US company formation packages include EIN application through our licensed Enrolled Agent Richard Williams, registered agent service, and guidance on US business banking and payment processor setup.
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