How to open UK Stripe account as a non UK resident in 2024

Making payments for goods or services via a website or mobile application is the trend these days. As a freelancer, ecommerce enthusiast or startup founder, having the right tools for your online payments is crucial to the success of your online business. Stripe ensures successful financial operations for internet businesses of all sizes. This software helps buyers and sellers move money globally at speed.

What is Stripe?

Stripe is a platform for online payments and credit card processing for eCommerce businesses. Stripe is one of the most efficient and user-friendly software options for online payments. With the help of Stripe, you can transfer money from a customer's bank account into the account of your company using a credit card, debit card, or other type of payment transaction.

The cost to set up Stripe is free, and there are no ongoing monthly or yearly fees for using the service. Instead, all Stripe fees are transparently priced per transaction. You'll pay 2.9% plus 30 cents per transaction to accept card payments online and 2.7% plus 5 cents to accept in-person payments with Stripe.

Why Stripe is the right payment infrastructure for Non UK Resident entrepreneurs?

Stripe's product suite and features are centered on eCommerce transactions, but it offers much more. Some of the most prominent benefits of Stripe include:

• Easy to set up and customize:

Stripe does not have a thorough underwriting process. This means that when businesses start using Stripe, they can get up and running quickly and easily.

Stripe also provides a number of developer tools and APIs to help you customize your website. To fully utilize these features, you may require coding skills or the services of a developer.

• Business payments:

Stripe offers a comprehensive set of solutions to businesses and platforms with e-commerce stores. These solutions enable them to manage subscription billing and accept payments via various channels.

This payment processing system offers many additional services, such as automated billing, invoicing, and sales tax, in addition to assisting businesses and customers with making one-time and subscription-based payments.

• An integrated payments system:

Both the payment processing platform and the credit card payment gateway are included in the Stripe software, and both are necessary for every successful online transaction.

A fully integrated suite is offered by Stripe that is suitable for both retail and e-commerce businesses by supporting countertop credit card terminals and point-of-sale systems.

• Excellent security measures

With a wide range of both basic and advanced security features, Stripe is among the most secure payment processors on the market. Stripe is SSL (Secure Socket Layer) protected. Your financial information (credit card numbers, bank account numbers, and passwords) are encrypted and securely transmitted. You can also be confident that your information is secure because Stripe complies with PCI (Payment Card Industry).

Stripe protects against fraud. Stripe Radar scans every payment with thousands of signals from across the Stripe network to detect and prevent fraud before it reaches your company. You'll have to pay a little extra for this advanced service.

How to open a UK Stripe business account as a non UK resident

Even if Stripe is not supported in your country of residence and you are a non-UK resident, you can still register and set up your Stripe payment in the UK. To do this, you must first create a limited company in the UK and then open a Stripe account for the purpose of processing payments for your new online business.

Use Incorpuk to set up a UK company and gain access to Stripe as a resident of a Stripe unsupported country.

UK Company Formation For Non-Residents

To establish and operate a limited company in the UK, you do not need to be a UK resident or citizen. You can complete the entire UK company formation process online, which is especially convenient for non-residents.

Minimum requirements for non-residents to register a UK business:

• Company name
• Be at least 18 years
• UK-based business address
• Register as the director
• Have a proof of ID and Proof of Address

How to Setup a UK Company?

Incorpuk is a platform that assist non UK residents to incorporate their company in the UK. Incorpuk also assists international founders to setup UK business bank account and also provide support for Stripe account setup.

How to Set Up Stripe Payment for Your UK Business

You must have a functional company website that advertises the goods and/or services your business offers in order to set up an active Stripe account. This enables Stripe to confirm the precise purpose for which you are accepting payments, validate your company's data, and finish activating your account.

Opening a Stripe Payment account is a simple process. To begin the registration process for your Stripe account, go to their website and click the "start now" button. You’ll need to verify your email address

To activate your Stripe account, you will be prompted to enter the necessary information. This will include information about your company's nature of business, fulfillment details, business banking account information, etc. You may also add two-step verification for added security.

Though it may take longer, verification generally takes 24 hours to approve your account. When your account has been verified, you can add it as a payment gateway on your eCommerce website. You can start selling online and accepting payments from clients all over the world once you complete your profile and update the settings for your company.

Why Use Incorpuk to start a UK company as a Non UK resident?

Incorpuk is a global entrepreneur centric platform. Our mission is to empower entrepreneurs through financial services and support for cutting through international barriers for startups.

Incorpuk platform is a robust platform for foreign entrepreneurs who are from Stripe unsupported countries. After your company is incorporated in the UK through Incorpuk, Incorpuk will provide you all the necessary support and guidelines you need to successfully set up your Stripe account as well as setting up a UK business bank account.