How can I open a Stripe account in India? : Stripe: Help & Support

How can I open a Stripe account in India?

Starting in May 2024, Stripe services will be invite only in India. This means that businesses from India will not be able to sign-up for a new Stripe account through our website, and will instead need to request an invite. We will only be able to support a select number of businesses, with a focus on international expansion, for the time being. Learn more here.

To open a Stripe account in India, you will need to provide information based on your business structure, such as identification numbers, a website or app store link, a description of your business, and bank details. Additionally, you may need to provide an IEC code from DGFT and an RBI Transaction Purpose Code if you are accepting international transactions. Two-step authentication is recommended for enhanced account security.

Based on your current business structure, Stripe will need the following details from you to create a Stripe account in India. Scanned or physical copies of documents may be required in the future, based on your usage.

Individual / Sole Proprietorship

Company / LLP

Notes:

* For export of goods, merchant warehouse needs to be in India. We do not support exporters that ship from warehouses outside of India.

* Once an account has been created, its country cannot be updated to or from India. You will need to create a new account [https://dashboard.stripe.com/register] and select the revised country upon account creation. For new India accounts, you will need to request for an invite [https://stripe.com/in/contact/sales]

Information needed	Sole Proprietorship	Individual
Accepting International Transactions	1) IEC code from DGFT. 2) An RBI Transaction Purpose Code that in your best judgment matches most closely with the service that you are selling. This is for regulatory reporting. We support businesses that export goods & services. Learn more on how to accept international transactions.	Accepting international transactions is not available as an option
Identification numbers	Your personal PAN	Your personal PAN
Website	Provide your website's URL. No website yet? You can use your app store link or social media profile	Provide your website's URL. No website yet? You can use your app store link or social media profile
Description	Select your industry and provide a description to the best of your ability	Select your industry and provide a description to the best of your ability
Type of business	Choose the correct business type, if you are a sole proprietor, then select 'Sole Proprietorship' from the drop down	Choose the correct business type, if you are an Individual, then select 'Individual' from the drop down
Legal name	This should exactly match the name in your tax ID	This should exactly match the name in your tax ID
Tax numbers (Optional)	1) Goods and Services tax (GST) identification number 2) Income tax deduction account number (TAN)	1) Goods and Services tax (GST) identification number 2) Income tax deduction account number (TAN)
Business address	The full postal address of your place of business	The full postal address of your place of business
Your details	This section should provide Sole Prop details	This section should provide details of the Individual
Ownership details	Not applicable	Not applicable
Statement descriptor	This information may appear on your customers’ credit card statement. You can change it at any time.	This information may appear on your customers’ credit card statement. You can change it at any time.
Support phone number	Your main support phone number	Your main support phone number
Bank details	Details of your INR current or savings account where funds will settle. This includes the name of the account owner (business or person name), branch IFSC code and bank account number	Details of your INR current or savings account where funds will settle. This includes the name of the account owner (business or person name), branch IFSC code and bank account number
Two-step authentication (Recommended)	Strengthen your account's security by protecting it with your phone in addition to your password. Require a text-message or Google Authenticator one-time password at each sign-in.	Strengthen your account's security by protecting it with your phone in addition to your password. Require a text-message or Google Authenticator one-time password at each sign-in.

Information needed	Company	LLP
Accepting International Transactions	1) IEC code from DGFT 2) An RBI Transaction Purpose Code that in your best judgment matches most closely with the service that you are selling. This is for regulatory reporting. We support businesses that export goods & services. Learn more on how to accept international transactions.	1) IEC code from DGFT 2) An RBI Transaction Purpose Code that in your best judgment matches most closely with the service that you are selling. This is for regulatory reporting. We support businesses that export goods & services. Learn more on how to accept international transactions.
Identification numbers	1) MCA CIN 2) Company’s PAN	1) MCA LLP ID 2) LLP’s PAN
Website	Provide your website's URL. No website yet? You can use your app store link or social media profile	Provide your website's URL. No website yet? You can use your app store link or social media profile
Description	Select your industry and provide a description to the best of your ability	Select your industry and provide a description to the best of your ability
Type of business	Choose the correct business type, if you are a Company, then select 'Company' from the drop down	Choose the correct business type, if you are a LLP, then select 'LLP' from the drop down. We do not support Simple Partnerships.
Legal name	This should be an exact match to the Legal name of your business. It would be the name of your business as per your business documents	This should be an exact match to the Legal name of your business. It would be the name of your business as per your business documents.
Tax numbers (Optional)	1) Goods and Services tax (GST) identification number 2) Income tax deduction account number (TAN)	1) Goods and Services tax (GST) identification number 2) Income tax deduction account number (TAN)
Business address	The full postal address of your place of business	The full postal address of your place of business
Your details	This section should provide details of your representative	This section should provide details of your representative
Ownership details	Percent ownership, name, PAN, date of birth and address of all individuals who own more than 10% of the LLP, or who are in a position to exercise significant control of the finances and operations e.g. Director, CFO, CEO, other financial officers	Percent ownership, name, PAN, date of birth and address of all individuals who own more than 10% of the LLP, or who are in a position to exercise significant control of the finances and operations e.g. Director, CFO, CEO, other financial officers
Statement descriptor	This information may appear on your customers’ credit card statement. You can change it at any time.	This information may appear on your customers’ credit card statement. You can change it at any time.
Support phone number	Your main support phone number	Your main support phone number
Bank details	Details of your INR current or savings account where funds will settle. This includes business account, branch IFSC code and bank account number	Details of your INR current or savings account where funds will settle. This includes business account, branch IFSC code and bank account number
Two-step authentication (Recommended)	Strengthen your account's security by protecting it with your phone in addition to your password. Require a text-message or Google Authenticator one-time password at each sign-in.	Strengthen your account's security by protecting it with your phone in addition to your password. Require a text-message or Google Authenticator one-time password at each sign-in.