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You don't necessarily need an LLC company, but you still need a legally registered company.
When you set up Shopify Payments, you need the following information:
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This is Moira from the Social Care team at Shopify. Thanks for posting, and a very warm welcome to the Community!
You don’t need to be a company or register a business in order to sell on Shopify. The Shopify Payments Terms of Service states:
"You may register as an individual (sole proprietor) or as a corporation or other legal entity." (section B - 1).
You are able to select either business type when setting up your Shopify Payments. If applicable, add in your Business Number, EIN, or Taxpayer Identification Number (TIN) depending on which country your business is located in. All businesses need to submit a tax ID (EIN). If you are a sole proprietor and don't have a tax ID, then you can submit your Social Insurance Number (SIN) or the last four digits of your Social Security Number (SSN) instead. I would also suggest you check with your local laws to see where you can register for a license when needed!
Depending on your region, there may be additional information needed to set up Shopify Payments. Shopify Payments is available only to stores in certain countries and regions, you can use the following list to find out if Shopify Payments is available in the country where your business operates.
An SSN is required for USA Shopify Payments accounts, as per the Terms of Service: Section B-3. Our banking partners need to be able to verify the identity of an account representative to ensure they are who they say they are, that they are a resident of a Shopify Payments supported country and that they are over eighteen. However, if you personally are not located in the USA, but your business has an operational presence there, there’s a possibility that you may still be eligible to use Shopify Payments! If you (the Account Owner) have a business presence in the USA (LLC), then your account can be reviewed to determine if you may be eligible to use a US Shopify Payments account.
The Financial Services team can help you evaluate if you’re eligible to use Shopify Payments. Therefore, please visit the Shopify Help Center and log in to your account to create a support request via live chat, email, or callback. A Support Advisor will be able to assist you with escalating the request to review your account to the Financial Services department if necessary.
For further reference, in the event that you are not eligible to use Shopify Payments, please find an extensive list here per region of all payment providers that integrate with Shopify.
If you have any questions please feel free to thread those below.
Moira | Social Care @ Shopify
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