Hi @Thryv
I’ve carefully reviewed your situation and understand you’re an Australian resident establishing a U.S.-based e-commerce store through a single-member LLC. Let’s address your questions one by one:
1. Changing Your Shopify Store Address to the U.S.
Once your U.S. LLC is established and you have a U.S. business address, you can update your Shopify store’s address to reflect this. To do so, navigate to Settings > General in your Shopify admin panel, and edit your business address accordingly. However, if you’re using Shopify Payments, you’ll need to deactivate it before changing your store’s country. After updating your address, you can reactivate Shopify Payments. It’s advisable to contact Shopify Support to ensure a smooth transition and verify that all settings are correctly configured.
2. GST Obligations for International Sales
Even though your LLC is based in the U.S., selling to international customers, including those in Australia, may require you to comply with local tax regulations. In Australia, if your GST turnover from sales connected with Australia reaches or exceeds A$75,000, you’re required to register for GST. This applies to non-resident businesses as well. It’s essential to monitor your sales and consult with a tax professional to ensure compliance with each country’s tax laws.
3. Using Shopify Payments with a U.S. Address and Wise Business Account
To utilize Shopify Payments in the U.S., you typically need a U.S. checking account with a bank located on U.S. soil. While Wise offers USD accounts, they may not meet Shopify Payments’ requirements for a U.S. bank account. It’s recommended to open a traditional U.S. bank account to ensure compatibility. Additionally, you’ll need to provide a Tax Identification Number (TIN) and other relevant business documentation during the setup process.
4. Currency Acceptance from Customers
Shopify allows you to set a primary selling currency, such as USD. Customers will be charged in the currency displayed during checkout. If you enable multi-currency features (available through Shopify Payments), customers can choose to pay in their local currency. Otherwise, all transactions will default to your primary currency, and customers’ banks may handle any necessary conversions.
5. Payouts to Your Wise Account
If you use a traditional U.S. bank account, payouts from Shopify Payments will be deposited in USD. If you opt to use a Wise account and it’s accepted by Shopify Payments, payouts will also be in USD. However, if your bank account is denominated in another currency, Shopify will convert the funds to that currency, which may incur conversion fees. To avoid unnecessary conversion costs, it’s advisable to maintain a USD-denominated account.
If you need any other assistance, I am willing to help.
Best regards,
Daisy.