#olli-connect
obtuse nimbus
molten tartan
i should probably add that we cant use direct charges or on_behalf_of (if im not mistaken about the way they work), mostly because of our business model
ember lily
Sorry, just jumping in here, can you elaborate a bit more on non-uk -> non-uk can mean non-euro region as well
so are your other connected accounts going to be in the Euro region still, or they could potentially be worldwide
molten tartan
we're a uk ltd company, transferring hopefully globally
ember lily
unfortunately, it's not going to work, we don't allow cross border transfers for various reasons (which i won't go into). The usual workaround here is to use direct charges, or destination charges with OBO.
Maybe you can tell me more about how your business works first? And we can see if there're any workarounds
molten tartan
we're a merchant of record for software businesses. our entire business model is to sell software for businesses as a reseller so they can offload their sales tax and compliance needs to us
currently working on implementing stripe at minimum as our payment processor. using connect for transfers would just simplify stuff a lot more
ember lily
hmmm, i see where you're coming from, so your company needs to be the MoR, and you want to transfer the money from the sales to the businesses and you would take a small cut - is that right?
molten tartan
exactly
our other option for this would be something like wise's api paired with stripe identity which would not be ideal
ember lily
hmmm, give me a couple of minutes to check something
the only solution here is to create a US corp (if you're able to), and you would be able to make use of cross border payouts then : https://stripe.com/docs/connect/cross-border-payouts
sorry that there isn't a better solution
molten tartan
i understand. sending money cross-borders without really knowing why is risky at best
im assuming atlas would probably be the best way to go seen as we'd get a stripe account quickly?
ember lily
Yes, that would be what I would start with. You would want to reach out to Stripe Support if you want more info on Atlas.
molten tartan
okay. as a part of our business model, seen as we'd be selling software practically globally, subsidiaries for places like the eu are currently seeming like a good bet. im assuming that would mess up cross-border transfers entirely?
ember lily
out of curiosity, what would be the benefit in setting up subsidiaries in certain regions?
molten tartan
mostly it was for the us, but now more for future reference in case we follow it into the eu. ive been told that it'll be way easier for us to register for sales tax and the like in the us via a c corp instead of a foreign entity, mostly because a lot of states seem to require us tax ids for registration. something we're still taking up with an accountant
having a us entity in the first place might completely remove the need for that though, so i'll be sure to take that up with them
ember lily
eeek, full disclaimer that I have no idea about tax implications. We mainly handle technical / integration questions in this channel
molten tartan
me neither, thats why its great to have accountants in the family ;)
ember lily
so, the crossborder transfers only works for US platforms right now. This MAY change in the future, but i wouldn't bet on it happening anytime soon.
If you setup subsidaries, your Stripe platform account (in another country) would only be able to transfer to connected accounts in the same country (except the Euro region, where you can transfer to other Euro countries)
molten tartan
sorry, had to step away. we'll be reaching out to mercury to double check that they'll be able to support our business, and we'll go from there
thanks for your help :)
ember lily
you're welcome, feel free to reach out again if you need help 😄