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Quick thoughts - Here's an ebook that might help folks understand the gateway/processor dynamic: http://feefighters.com/ebooks/what-is-credit-card-processing?f

by pitdesi 15y ago

Quick thoughts - Here's an ebook that might help folks understand the gateway/processor dynamic: http://feefighters.com/ebooks/what-is-credit-card-processing?force_download=true http://feefighters.com/ebooks/what-is-credit-card-processing... (written with US audience in mind, but most of it holds true worldwide) To get a US merchant account, you need a US Tax ID/Bank account (acquirable with Delaware company) AND a US Social Security number for someone who has ownership in the company. Unfortunately that is the minimum that underwriters will accept... AFAIK you need the same stuff with Stripe, Samurai, and Braintree. One thing to realize is that for us startups serving startups, we would love to do the rest of the world but there are a bunch of complications that come with doing so (timezones, currencies, partners, taxes). We (http://samurai.feefighters.com http://samurai.feefighters.com) hope to be in Australia in the near future. If interested in Samurai for Europe or Australia, give us your email address here: https://docs.google.com/a/transfs.com/spreadsheet/embeddedform?formkey=dDZrMVI1YVVGT0NhSmpQbl80Q0o5Z2c6MQ&ndplr=1 https://docs.google.com/a/transfs.com/spreadsheet/embeddedfo... If interested in Canada, use this form: https://docs.google.com/a/transfs.com/spreadsheet/embeddedform?formkey=dGh0bHdEMlZ1cVZsbE50djhVbjlHN2c6MQ https://docs.google.com/a/transfs.com/spreadsheet/embeddedfo... As for the beaches, I hope to find out soon :)

nirvana 15y ago
How is a foreign corporation, setting up a US corporation, going to have a social security number for an owner of the corporation, if none of the owners are US citizens? Is this really a requirement of the underwriters, or the IRS? I remember looking at an EIN form once and seeing that it required a SSN in order to get an EIN. But of course, someone whose never lived in the USA would not have an SSN. This would seem to imply that the USA is only open for business to US Citizens. You need an EIN to do anything that might be taxable in america, but you can't get one unless you have an SSN.
- rprasad 15y ago
  You would get a TIN (taxpayer identification number), which is essentially an SSN or EIN for foreign taxpayers.

by pitdesi 15y ago

nirvana 15y ago

How is a foreign corporation, setting up a US corporation, going to have a social security number for an owner of the corporation, if none of the owners are US citizens? Is this really a requirement of the underwriters, or the IRS? I remember looking at an EIN form once and seeing that it required a SSN in order to get an EIN. But of course, someone whose never lived in the USA would not have an SSN. This would seem to imply that the USA is only open for business to US Citizens. You need an EIN to do anything that might be taxable in america, but you can't get one unless you have an SSN.

rprasad 15y ago
You would get a TIN (taxpayer identification number), which is essentially an SSN or EIN for foreign taxpayers.