Getting paid from Nigeria
Stripe lists Nigeria in its extended network: Nigerian businesses sign up through Paystack, the Lagos company Stripe bought in 2020, not through Stripe itself. Paystack is built for local payments in naira. It can accept international cards, but settles them in naira by default; dollar payouts are possible for Nigerian businesses that have a USD domiciliary account at Zenith Bank.
For years, PayPal accounts registered in Nigeria could send money but not receive it. In January 2026 Paga announced a partnership that lets Nigerian users receive PayPal payments and withdraw them in naira through a Paga wallet. Shopify Payments is not available to Nigerian businesses.
A US LLC with an EIN and a US bank account can apply for a US Stripe account, PayPal Business as a US company and Shopify Payments, all paid out in dollars. Stripe reviews every application and checks the owner's passport; it decides, not us.
At home
Tax: Nigeria taxes residents on worldwide income
Individuals resident in Nigeria are taxed on their worldwide income. The Nigeria Tax Act 2025, in force since 1 January 2026, also treats a foreign-incorporated company that is effectively managed or controlled from Nigeria as a Nigerian company, taxed in Nigeria on its global income. For a single-member LLC run from Lagos, that is a real question, not a formality.
The Act's controlled foreign company rules tax undistributed profits of foreign companies controlled by Nigerian companies, so they matter if you hold the LLC through a Nigerian company. Nigeria has no income tax treaty with the US. Discuss how Nigeria will treat the LLC with a chartered accountant before it has income.
Funding the LLC from Nigeria
Foreign exchange runs through authorised dealer banks under the CBN Foreign Exchange Manual (4th edition, May 2026). Holders of an ordinary domiciliary account have access to their funds for eligible transactions, and the bank records the purpose of each transfer. Transactions the manual does not list are referred to the CBN, which decides whether they are eligible and which documents apply.
Capital for a foreign company you own is not a standard line in that list for individuals. Ask your bank how it treats the transfer before you send it, and keep the paper trail: the formation document, invoices and the bank's transfer record.
Bringing money home
Money you take out of the LLC arrives as an inward transfer. You can hold it in a domiciliary account in dollars and convert to naira at a bank when you choose. Keep the LLC's records showing what each payment is, such as a distribution or a loan repayment, because banks and the tax authority ask.
The US side is the same for everyone
Where you live does not change the US part. It is done online, without travelling, without a US address and without an SSN.
- Choose a state: Wyoming or New Mexico for low running costs, Delaware if you plan to raise money from investors.
- The formation document is filed with a registered agent in that state, within 48 hours.
- The EIN is requested from the IRS as soon as the state approves. No SSN or ITIN is needed.
- You get the operating agreement that banks and payment providers ask for.
- With those documents you apply for a US business bank account, for example at Mercury.
- Every year: the registered agent, the state's annual report where there is one, and Form 5472 for a single-member LLC owned by a foreign person.
Which state?
With no people or premises in the US you can choose any state. Most founders abroad choose on yearly cost and speed.
Sources checked on November 2, 2026
This page is general information, not legal or tax advice. Rules and fees change; check your own situation with a chartered accountant in Nigeria before you form the LLC.
