How to get Stripe in Sri Lanka, legally

Does Stripe work in Sri Lanka?

Not for Sri Lankan businesses. Sri Lanka isn’t on Stripe’s list of supported countries, so you can’t open a Stripe account as a sole trader, a Sri Lankan private limited company or an individual living here. That hasn’t changed in 2026.

You might see Sri Lanka mentioned in Stripe’s documentation. In February 2026, Stripe added Sri Lanka to Stripe Tax, which lets businesses in other countries collect Sri Lankan tax when they sell digital products to customers here. It doesn’t let Sri Lankan businesses open accounts.

So the question becomes: how do you get a business in a country Stripe does support? For most people here, the answer is a US LLC.

The legal route: a US LLC

A limited liability company (LLC) is a US company that one person can own from anywhere in the world. You don’t need a US visa, an SSN or a trip to America. Once your LLC exists, it can apply for Stripe like any other US business.

Stripe looks for four things from a US business:

• The company. Your LLC’s formation documents from the state.
• An EIN. The company’s federal tax number from the IRS. Non-residents can get one without an SSN.
• A US bank account for payouts. Stripe pays a US account out in US dollars, which is why founders open Mercury.
• A real business online. A website that explains what you sell, at what price, with a refund policy, terms and contact details.

You’ll also verify your own identity as the owner, with your passport.

Step by step

1. 1

   Form your LLC

   Pick a state. Wyoming files in 3–5 business days; Montana and Missouri take 7–14.
2. 2

   Get your EIN

   The IRS issues your company's tax number. Entryly includes this in the formation time.
3. 3

   Open Mercury

   Apply for a Mercury business account in your LLC's name. Mercury decides on its own.
4. 4

   Get your website ready

   Products and prices, a refund policy, terms of service and a contact page, all public.
5. 5

   Apply to Stripe

   Use your LLC, EIN and Mercury account. Stripe's review usually takes 1–7 business days.

What Stripe costs

Stripe charges per successful card payment. For a US account, these are the standard rates:

A $100 payment from a US customer costs you $3.20. The same payment from a customer with a UK card costs $4.70.

Getting the money to your Sri Lankan bank

Stripe pays out to Mercury in US dollars. From there, most founders send money home with Wise: Mercury moves dollars to your Wise account by ACH for free, and Wise converts them to rupees at the mid-market rate and sends them to your account here.

You can also keep the money in dollars. Some founders send a USD wire to a foreign currency account at their Sri Lankan bank instead of converting straight away. Ask your bank what it charges to receive one.

Is it legal for a Sri Lankan to do this?

Yes, and here’s what that involves on both sides.

In the US, owning an LLC as a non-resident is normal and legal. A single-member LLC owned by a non-resident usually owes no US income tax, but it must file Form 5472 with the IRS every year. Missing it can mean a $25,000 penalty.

In Sri Lanka, two sets of rules apply to you:

• Tax. Since 1 April 2025, income from services you provide to clients abroad and receive in foreign currency is taxed at up to 15% for individuals, and at 15% for companies. Your LLC’s profit is your income here.
• Foreign exchange. If you send money from Sri Lanka to put capital into a foreign company, the Central Bank’s outward investment rules apply. That usually means using an Outward Investment Account (OIA) at a licensed bank. Paying a service provider’s fee is a different kind of payment.

Why Stripe applications get refused

Stripe doesn’t explain every decision, but most refusals come from a few causes:

1. Restricted business types. Stripe won’t support some industries, such as unlicensed money transmission, certain financial products, adult content and pyramid schemes. Check the restricted businesses list before you form a company for this.
2. An unfinished website. No prices, no refund policy, a “coming soon” page or no way to contact you.
3. Details that don’t match. The business name, address or description differs between your LLC, Mercury and Stripe.
4. A phone number that can’t receive codes. Virtual numbers often fail verification.

Even after approval, Stripe can pause or close an account if your business changes or you get many chargebacks. Keep your website and your business description accurate.

If Stripe isn’t right for you

• PayPal. Since May 2026, Sri Lankans with a personal PayPal account linked to Sampath Bank or Commercial Bank can receive payments from abroad. Business accounts and PayPal Checkout are still listed as coming soon. If your clients are happy to pay you by PayPal, you may not need a US company at all. Read PayPal in Sri Lanka.
• Payoneer. Popular with freelancers paid by marketplaces. You get USD receiving details and can withdraw to a Sri Lankan bank.
• A merchant of record. Services like Paddle or Lemon Squeezy sell your software for you and pay you out. Check that they pay out to Sri Lanka before you rely on one.

A US LLC with Stripe makes most sense when you want card payments on your own website or Shopify store, subscriptions, or a platform that only pays out through Stripe.