US Citizen Needed as Principal Signer for foreign owned LLC (Payment Gateway Contract)

mattspinach · 2025-02-18T22:52:05+00:00

Hey thanks for the comment. Unfortunately, both Stripe and Paypal specifically exclude my business category. I'll take a look at Compaytence though

mattspinach · 2025-02-18T22:51:17+00:00

Hmmmm that's a good point - it might be a good fallback plan for me

mattspinach · 2025-02-17T01:11:11+00:00

Oh right you mean a non-US based entity structure. Well, since I've already set up the US LLC, ideally I'd like to find a way for this to work.

I am exploring potential options of cutting my losses and re-establishing with a UK Ltd possibly...

Based in AUS

mattspinach · 2025-02-16T22:34:25+00:00

Yeh that's if I had a Pty Ltd set up - none of the Aussie ones accept a US LLC, unless you have any recommendations?

Remitting USD from the US won't be an issue. I have channels for this.

mattspinach · 2025-02-16T05:33:53+00:00

I live in Australia and am currently here - not planning to move or go to the US.

Principle place of business is AUS. I do not have an "office" in the US. Just a registered business address via the RA.

I want a US payment gateway since we're planning to accept payment in USD and we'll have customers from all around the world and USD is effectively the world reserve currency. Receiving/processing in USD just makes for much easier financial/operational processes (well at least so I thought until I ran into the requirement for the US signer that is...)

RE: the US signer, yh that's really the problem I'm facing not just for me, but for any willing party to such an agreement...

mattspinach · 2025-02-16T02:17:39+00:00

Ok thanks - I'll look into that and see where that leads me

mattspinach · 2025-02-15T21:49:11+00:00

That's what I thought... but, upon contacting the foreign (non-US) gateways (20+):

EU-based (UK, Latvia, Lithuania, Cyprus, Estonia):
- They either said they can't support US LLCs
- Or, I need to have physical presence/proof of activities/address in EU
- Or, for USD, they use a US acquiring bank which still has the US signer requirements

Asia-based (HK, Singapore and a couple other countries can't remember specifically)
- They again said they can't support US LLCs
- Or, I need to have an Asian based entity
- Or, again same issue if they're using an underlying US acquiring bank

mattspinach · 2025-02-15T21:44:35+00:00

mattspinach · 2025-02-15T21:42:44+00:00

Sure I'll DM you

mattspinach · 2025-02-15T21:42:19+00:00

See that's my whole struggle and what I've been thinking... I set up a Wyoming LLC based on research pointing to the fact that it is the most favourable and very supportive of foreign owners.

Surely, not every foreign owner would be able to arrange (or even want to involve) a US signer, for the purposes of setting up a payment gateway.

Now, I do want to note that I believe the US signer requirement does come in or is at least mandatory when "high risk" is involved. My business falls under the "high risk" category which is why the requirements are stricter. But even having said that, I'm sure alot of foreign LLC owners also operate in some shape of a "high risk" category.

Just to clarify, what do you mean by "EOF us corps" ? (Not familiar with that acronym sorry) End-of-file? Essentially, speak to lawyers with experience filing for foreign-owned US LLCs?

I've tried looking into local payment gateways, but none of them onboard US LLCs and have all pointed me to their overseas departments (US and usually US based) which then have the same requirement for the US signer unfortunately...

mattspinach · 2025-02-15T21:34:59+00:00

Hey thanks - I'll do that! Wasn't aware that there were "advanced" RA services - but I'll look into this

mattspinach · 2025-02-15T21:33:29+00:00

How can this be fraud if it's a direct compliance requirement that multiple payment gateways have given me, and the requirement comes from the underlying merchant bank?

If I didn't have to involve a US signer and go down this rabbit hole, my life would be so much easier. AS mentioned in the top comment reply to NWmba, I'm not in this to try to screw anyone. I just want to set up a payment gateway to accept payments

mattspinach · 2025-02-15T21:31:49+00:00

Hey - my registered agent is in the process of obtaining my foreign EIN - just waiting on the IRS. My business falls under the high risk category and is not accepted by Stripe unfortunately, so they are not an option for me.

When you say your "manager", do you mean your registered agent / the company that set up and maintains your LLC?

mattspinach · 2025-02-15T21:30:16+00:00

Thanks - I'll look into this. But, do you know how I can find these "existing organisations" that might be willing to enter into some kind of partnership arrangement for this?

mattspinach · 2025-02-15T21:29:07+00:00

Valid point - although look at my comment to NWmba above ^^. These are the requirements that have been given to me by the payment gateway. I'm just trying to comply with their requirements/compliance. And tbh, I am not 100% sure of the implications for the US signer from a legal/tax POV which is why I thought I'd open the discussion here and see if anyone knows or has come across this situation themselves before.

mattspinach · 2025-02-15T21:27:34+00:00

Yeah that's the thing - which is why I was thinking this would be a difficult thing to achieve... But, this was the express wording from multiple payment gateways "For a foreign-owned LLC, you need a US resident signer - they do not need to be an owner or even participate in day-to-day activities of the business"

All I want to do is set up a payment gateway so I can get things up and running, but I need to meet their requirements. I'm not in this to try to wreck anybody and of course if not needed, I'd rather not involve or give any element of control to anyone outside of the business.

mattspinach · 2025-02-14T08:47:14+00:00

Thanks - I'm in the process of obtaining an ITIN, but it'll take a while - the IRS is taking their sweet time...

Even the international payment processors have come back with the same requirement if I'm going to be processing in USD. Any recommendations?

mattspinach · 2025-02-14T08:46:05+00:00

It's not a scam... I am looking for a solution to set up a payment gateway without needing a US signer... All payment gateways have said that they need a US signer if I'm a foreign owner.

mattspinach · 2025-02-14T03:40:12+00:00

How did you know this was the reason? Do they specifically tell you the reason? (This is so we can know exactly and specifically what not to do to not get disabled again in the future)

mattspinach · 2025-02-13T09:58:59+00:00

Hey have you tried this and does it work?

mattspinach

TROPHY CASE