At Mobile World Congress in Barcelona today Stripe co-founder and CEO, Patrick Collision, announced Stripe Atlas. The new service aims to make it easier to incorporate a business anywhere in the world.
Atlas helps incorporate a U.S. Delaware company, open a US bank account with Silicon Valley bank, accept payments from Stripe and get tax/legal guidance.
Ever been to a tech festival?
TNW Conference won best European Event 2016 for our festival vibe. See what's in store for 2017.
The company believes that people who want to start a business in the US should be able to, without the “long, hectic process” usually involved in doing so.
The service is invite-only for now, but it’ll eventually open to a wider audience.
Atlas costs $500 once during beta, which includes the fees associated with incorporating the company and setting up a US bank account — vastly cheaper than navigating the legal waters yourself.
Stripe touts that it shortens a process that usually takes months into days, and that Atlas users can expect to be able to start accepting payments within a week.
What you’ll get as part of the process is an incorporated US company, a tax ID number, bank account, Stripe account, guidance from Orrick and PwC (for free) as well as $15,000 in Amazon Web Services for beta users.
Stripe thinks that Atlas will be best for entrepreneurs who want to build a global business. Collision said that the company started this to “remove barriers” to starting businesses and to help them just get started building.
The company has been testing Atlas with real-world customers for “a long time,” and Collision said that Stripe “thought it was crazy it didn’t exist already.”