Dropshipping is a business model that lets you sell products by using a supplier.
I currently leaving in Cyprus and have set up my Shopify store using my local address. This situation presents some challenges, such as being unable to use Shopify Payments and encountering issues with currency conversion. I'm using a third-party payment service provider, Stripe, which results in my European customers (UK, FR) being charged in USD, currency view as well in USD (only USD for view and payments) for all markets. I can’t work like that.
I've been using Shopify for a month and this currency issue has become apparent. I'm now considering opening a business in the United States to potentially resolve these issues.
Could anyone provide insights on the following:
Any advice or experiences would be greatly appreciated. Thank you!
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Hello mate,
Thank you for your reply. For your Shopify store, you will need a bank account, an LLC, and a Tax ID number. All major banks offer similar services, but it's worth comparing them. Transferring money from a U.S. bank to an EU account is generally straightforward, though fees can vary. LLCs do vary by state in terms of regulations and benefits, not just price. New Mexico is cheaper, but you should consider other factors like privacy and reporting requirements. I can suggest reliable LLC providers if you need. The process usually takes a few days to a few weeks, depending on the state and provider.
This is an accepted solution.
@johny Sure! For LLC providers, consider options like LegalZoom, Incfile, ZenBusiness, and Northwest Registered Agent. These companies are well-regarded for their comprehensive services. While I don't have personal experience with BusinessRocket LLC, they do have a solid reputation, so it's good that you're in touch with them. For the region, Delaware is highly recommended due to its business-friendly laws, robust legal system, and strong support resources. While it may be more expensive, Delaware offers significant advantages for businesses looking for reliable and comprehensive support. Always ensure to check reviews and compare services before making a decision.
@johny Yes, you can open a U.S. business while residing in Cyprus. To do so, form an LLC, get a registered agent, obtain an EIN from the IRS, and possibly a U.S. mailing address. Costs range from $300 to $1,000. An LLC is the easiest for dropshipping. Pros include access to Shopify Payments and easier currency conversion, while cons involve additional paperwork and tax obligations. Without a U.S. business address, you may face payment and shipping challenges on Shopify.
Hello mate,
This is an accepted solution.
Hello mate,
Thank you for your reply. For your Shopify store, you will need a bank account, an LLC, and a Tax ID number. All major banks offer similar services, but it's worth comparing them. Transferring money from a U.S. bank to an EU account is generally straightforward, though fees can vary. LLCs do vary by state in terms of regulations and benefits, not just price. New Mexico is cheaper, but you should consider other factors like privacy and reporting requirements. I can suggest reliable LLC providers if you need. The process usually takes a few days to a few weeks, depending on the state and provider.
Thank you very much for your answers.
Could you please suggest some LLC providers? I am currently in touch with BusinessRocket LLC. If you have any experience with them, please let me know. Also, could you recommend a region for establishing the LLC where I might pay more but have access to all the necessary resources and support?
Thank you!
This is an accepted solution.
@johny Sure! For LLC providers, consider options like LegalZoom, Incfile, ZenBusiness, and Northwest Registered Agent. These companies are well-regarded for their comprehensive services. While I don't have personal experience with BusinessRocket LLC, they do have a solid reputation, so it's good that you're in touch with them. For the region, Delaware is highly recommended due to its business-friendly laws, robust legal system, and strong support resources. While it may be more expensive, Delaware offers significant advantages for businesses looking for reliable and comprehensive support. Always ensure to check reviews and compare services before making a decision.
To offer your customers a wide range of payment methods via Stripe, regardless of the location of your Shopify store, check out this solution https://lnkd.in/dtia-EBS
This solution supports multi currency.
And article >> https://www.linkedin.com/pulse/boost-your-uk-shopify-sales-accept-various-payment-methods-6gnnf
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