Stripe Registration Guide: A Practical Handbook for Global Payments

Sometimes, we think the world has high barriers, but we simply lack the right key. Stripe serves as such a key. It’s not a universal key, but for those wanting to sell products or services globally, it’s truly an indispensable tool.

Why Choose Stripe? Are There Other Options?

Stripe allows you to receive global payments effortlessly. You focus on your product, while Stripe automatically handles payments, settlements, and compliance. It supports multiple currencies and payment methods, so you can accept whatever payment method your customers use.

Of course, other platforms can also receive money, such as PayPal, Adyen, and Checkout.com. However, PayPal has strict risk control, is prone to account suspension, and provides a less smooth experience; Adyen and Checkout.com are more suitable for large companies, with high barriers to entry and complex integration.

Stripe’s biggest advantage is its stability, simplicity, and reliability. You’ll find that many of the world’s top SaaS and internet companies choose it, not because it’s cheap, but because it simplifies complex tasks, is quick to set up, comprehensive in functionality, and provides a great user experience, particularly suitable for entrepreneurs and small to medium teams.

Materials Required for Stripe Registration

Don’t rush to register. Stripe is quite strict about document verification, especially identity and company information. You need to prepare:

• A legally registered company; a UK company is a good choice, with a simple registration process and high global acceptance
• Company-related documents: company certificate, articles of association, shareholder proof, etc.
• Company bank account: recommend using multi-currency accounts like Wise, Airwallex, or WorldFirst. Bank policies may change, so it’s best to inquire in advance or prepare alternative options
• Company legal representative’s passport, ID, address proof
• UK phone number: you can use virtual operators like giffgaff

These requirements might sound cumbersome, but they largely overlap with the materials you prepare when registering a UK company .

Which Countries Does Stripe Support?

Not all countries can use Stripe. Mainland China is not on the support list, but Hong Kong, UK, Singapore, USA, etc. are supported. The simplest approach is to first register a UK company, then apply for a Stripe account with the UK company’s identity.

Stripe Prohibited Business Areas

Stripe is very strict about prohibited businesses, with core principles of avoiding legal risks, moral controversies, and high fraud rates. Here are the main types of prohibited businesses:

• Illegal products and services: Including illegal drugs, forged documents, jamming devices, violence or discrimination-related content, and any goods or services that violate local laws.
• Adult content and services: Such as pornography, sexual services, strip clubs, sexually-oriented dating platforms, and related AI-generated content.
• Gambling and betting: Covering online and offline gambling, lotteries, raffles, games and competitions with monetary or physical rewards.
• High-risk financial services: Such as ATM machines, check cashing, debt collection, peer-to-peer money transmission, shell banks, ICOs, cryptocurrency mining and staking, secondary NFT sales, etc.
• Weapons and dangerous goods: Including firearms, ammunition, explosives, dangerous chemicals, certain knives, etc.
• Intellectual property infringement: Such as pirated works, counterfeit goods, unauthorized brand sales.
• Fraud and unfair practices: Pyramid schemes, get-rich-quick schemes, false advertising, services without added value, traffic or engagement buying, document forgery, etc.
• Government-related services: Such as embassy, consulate-related services, or providing government services with misleading statements.
• Cannabis and related products: Including CBD products with high THC content, cannabis retail, growing equipment, etc.
• Medical and health risk products: Unsafe or fake health products, counterfeit drugs.
• Travel and transportation: Such as commercial aviation, cruises, charter flights, timeshare vacation services, etc.
• Others: Such as telemarketing, door-to-door sales, suspicious remote technical support, negative option marketing, etc.

Stripe’s underlying logic is: if a business area is likely to cause legal disputes, moral controversies, fraud complaints, or has high regulatory uncertainty, it will be prohibited. This approach protects both Stripe and its users and partners.

Stripe Accounts

A Stripe account can manage multiple Connect sub-accounts, each corresponding to an independent merchant or payee. The main account has complete backend permissions and can centrally manage products, customers, and transactions. Connect sub-accounts allow independent collections for different merchants, individuals, or partners on the platform, with identity, settlement accounts, and collection records that can be set up separately.

Your Stripe account is like a “parent company,” and each Connect sub-account is like a “branch” or “franchisee.” For example, if you run a SaaS platform, the main account handles overall management, and each merchant has their own Connect sub-account, with independent settlement and compliance, flexible operations, and convenient expansion.

Stripe Registration Process

Create an account: Register a Stripe account at https://stripe.com/register , fill in your email, name, password, select the UK as your country, and it’s recommended to sign in with a Google account.

Fill in company information: Company name, company number, registered address, business description.

China only supports Hong Kong registration. This tutorial uses the UK for registration; the process for Hong Kong and US companies is generally consistent.

Fill in merchant-related information that will be displayed on the payment page. You can adjust this later or skip it for now.

Business type: Select “Company”

Company structure: Select “Private company,” usually “Private Company Limited by Shares,” abbreviated as Ltd.

The other two options are:

Limited Liability Partnership (LLP): A limited liability partnership suitable for businesses operated jointly by two or more partners. Partners’ liability for business debts is limited (personal assets won’t cover business debts), and annual statements and accounts must be submitted to Companies House (UK company registration agency).

Unincorporated Partnership: An unregistered partnership (general partnership) without legal entity status. All partners bear unlimited joint and several liability for business debts, without the legal protection like an LLP, generally used for small, trust-based partnership businesses.

Fill in company merchant information. These details are available after registering a UK company , with the legal merchant name including the Ltd suffix. Enter a UK phone number, then fill in the company website and product description.

As for the VAT number, if you already have a VAT number, definitely fill it in; if not yet, focus on your business first and complete it when needed, no need to follow the process for process’s sake. However, if your annual turnover exceeds the threshold (currently £85,000/year), you theoretically must register for VAT. Remember to check regularly and avoid crossing tax red lines.

Fill in your legal name consistent with your ID, home address can be a Chinese address, phone number should be a UK phone number, check “I own 25% or more of the company,” and check “I am a director or board member of the company.”

For the next three steps—business owners, company directors, company managers—the default is the company representative. You can adjust according to your situation, but it’s recommended to list yourself for these roles.

Link a bank account: Fill in company bank account information for receiving payments.

Select the currency and bank account country. Here we’ve selected GBP and the UK, but you can select based on your actual situation.

For a corporate bank account, using Airwallex global collection account as an example, the sort code is the UK account’s bank code (usually 6 digits), and the account number is the UK account’s collection number (usually 8 digits).

Enable two-factor authentication.

Then there’s tax calculation and Climate donation, which you can skip for now.

Finally, thoroughly check all the information you’ve filled in and review and submit.

Upload other materials and wait for review. Visit https://dashboard.stripe.com/settings/update/ . If there are no prompt messages, check back in a couple of days.

Usually, you’ll be prompted to upload the company’s business license, legal representative’s ID verification documents, and proof of home address. For ID documents, take photos of both sides of your ID card and follow the prompts. For home address verification, you can use a valid passport, bank or credit card statement from the last three months, driver’s license, etc.

Wait for review: Typically 1-3 business days, Stripe will email you the result.

Stripe’s KYC and Risk Control

KYC is the most important part of anti-money laundering (AML). When registering with Stripe, KYC (Know Your Customer) is the first hurdle. You must submit all materials truthfully; don’t try to “bend the rules” because Stripe’s algorithms and manual reviews are very familiar with “loopholes.” Incomplete information, vague business descriptions, and incorrect bank account information will all keep you locked out.

Stripe’s risk control is not a monster. Its purpose is to help you and the platform avoid risks together. When facing review issues, don’t rush to appeal; first, check if your website and product description are professional enough, and if your documents are up-to-date, original, and consistent with company information. Risk control officers actually want to save trouble; if you appear “reliable,” things will go smoothly.

If you really can’t solve the issue, Stripe customer service is actually very friendly. Here, I must praise Stripe’s customer service: as long as your attitude is good and your expression is clear, many problems can be solved.

Stripe’s Common Functions

Stripe is not just a payment tool. Its Dashboard gives you control over all data, with orders, customers, and cash flow at a glance. You can generate payment links with one click, set up subscription services, automatic settlements, and even implement complex split payment logic.

If you know development, Stripe’s API is flexible enough to allow your business to launch quickly and iterate continuously.

Stripe also supports multiple currencies and payment methods, allowing global customers to pay smoothly. Your business is no longer limited by geography and currency.

Hidden Costs and Considerations

Stripe’s pricing seems simple: 2.9% + $0.30 per transaction, specific to local policies. But don’t underestimate the hidden factors behind cross-border payments. The withdrawal cycle is generally 3-7 days, and cross-border withdrawals also involve exchange rate losses and transfer fees. Before the money arrives, every penny might have a bit “skimmed off.”

More importantly, Stripe is extremely sensitive to certain industries. For example, adult content, financial derivatives, and gray area businesses are easily flagged by risk control. Don’t think you can “slip through”; Stripe’s risk control system is far more complex than you imagine.

Business requires careful calculation; don’t just look at the nominal income. The truth about profit is hidden in every fee and every exchange rate point.

Additionally, registering with Stripe is just the first step. You still need to pay attention to company annual reports, taxation, bank compliance, etc., otherwise your account may be suspended.

Conclusion

Using Stripe for payments, you can take your business global, reach customers from different countries, and make payment, settlement, and compliance processes clear and controllable. Registering with Stripe means opening up more possibilities for your business. The world is not as complex as imagined; the key is whether you’re willing to take this step. Once you start acting, the rest will naturally find answers.