Forming a US LLC, Getting an EIN and Applying to Stripe & Mercury: A Step-by-Step Guide from Turkey (2026)

Many Turkish entrepreneurs selling to US customers on Etsy, Shopify or Amazon eventually ask the same question: should I form a US company? A US LLC can make it easier to access payment providers such as Stripe, collect revenue in dollars and present a business identity on marketplaces. It is not required for every seller, though, and it comes with its own obligations. This guide walks through the process, the costs and the responsibilities that follow, realistically.

1. First decide: do you actually need an LLC?

Etsy and Shopify accept sellers based in Turkey, whether individuals or local companies. Where an LLC really makes a difference is access to US-based payment and banking services. Consider forming one if:

• You want to accept card payments with Stripe on your own Shopify store,
• You want to hold and manage your revenue in US dollars in the US,
• You need to sign contracts in a company name with wholesale buyers or US partners.

If you are still testing demand, it often makes more sense to start with your current setup and form a company once sales are proven.

2. Wyoming or Delaware?

These are the two states foreign founders choose most often. Roughly:

• Wyoming: low formation and annual report fees and no state income tax. Usually sufficient and economical for a one-person e-commerce company.
• Delaware: known for a legal system familiar to investors and large companies. LLCs pay a fixed state tax every year, so the total cost is higher unless you plan to raise investment.

Whichever state you choose, you must keep a Registered Agent there. State fees and agent fees change, so check current rates before filing.

Be careful with the phrase "tax-friendly state": the choice of state does not, on its own, change your federal US tax position or your tax position in Turkey.

3. Formation step by step

1. Name and state: check that the name is available in the state registry. It must end in "LLC".
2. Articles of Organization: filed with the state through your registered agent. Approval usually takes a few business days.
3. Operating Agreement: the internal agreement setting out ownership and management. Banks and payment providers often ask for it.
4. EIN application: the company tax number issued by the IRS. Founders without a US Social Security number apply with Form SS-4. It can take anywhere from a few days to a few weeks.
5. Address and records: the registered agent address is for official mail. Some banks and payment providers also ask for a business address.

4. Applying to Stripe and Mercury

Once you have the EIN you can apply for financial accounts. The key fact here: no intermediary can guarantee these applications will be approved. Banks and payment providers decide under their own identity verification and risk policies.

• Stripe: asks for company details, the EIN, a US bank account and passport verification of the founder. Having a live, clear website for what you sell improves your chances.
• Mercury and similar fintech banks: may accept foreign founders, but the countries they accept change over time. Check current eligibility before applying.
• Moving money: sending dollar revenue to Turkey through services such as Wise or SWIFT involves exchange spreads and transfer fees. There is no "zero-cost" route; compare fees.

If an application is rejected, the usual way forward is to find out the reason, complete the missing documents and appeal, or apply to an alternative provider.

5. What you must do every year

Forming the company is only the start. The real risk is forgetting the annual obligations:

• State annual report and fee: if unpaid, the company loses its good standing.
• Registered agent renewal: without an agent the company can miss official notices.
• Federal information return: foreign-owned single-member LLCs must file Form 5472 with a pro forma Form 1120 every year, even if they owe no US tax. Penalties for not filing are high.
• Your tax position in Turkey: income from the US company may need to be declared in Turkey. Review your personal situation with a qualified accountant.

6. What Igora does and does not do

Igora coordinates and guides the choice of state, formation documents, the EIN application and the preparation of Stripe and Mercury applications, and sends reminders for annual obligations. Igora is not a law firm, accountancy or bank and cannot guarantee the decisions of authorities or financial institutions. The company, the EIN and the accounts opened belong entirely to you. See the packages page and the terms of service for details.