Which US banks actually accept Pakistani founders?
Mercury added Pakistan to its prohibited list in 2024. Relay and Wise exclude it too. This page is the position we read from each provider directly, rather than the version most formation sites still publish.
Provider by provider
Verified July 28, 2026
Pakistan is on Mercury's published prohibited-countries list, added in 2024. Based on founder residence, not company registration.
Relay excludes Pakistan by owner citizenship or residency.
Pakistan is not among the countries where Wise permits holding a balance.
Payoneer serves Pakistan with multi-currency receiving accounts and PKR withdrawal through partner banks.
Provider country policies change without public notice — Mercury revised its prohibited list in 2024 and has amended it since. Treat this page as a starting point that was accurate on the date shown, then check the provider's own page before you apply. We would rather you verify us than trust us on something this consequential.
The banking answer and the payments answer are different
Pakistani founders mostly want a US LLC because Stripe does not support Pakistani businesses. That objective is unaffected by the banking picture — the LLC and EIN are what make Stripe possible. What the banking picture changes is where funds go afterwards, and there the options are genuinely narrower than the marketing suggests.
SBP permission is a separate question from banking
Equity investment abroad by Pakistani residents generally requires prior State Bank of Pakistan permission, and FE Circular No. 01 of 2021 created a specific route for startups and fintechs to establish holding companies abroad. Section 116A of the Income Tax Ordinance also brings a foreign asset into FBR reporting once thresholds are crossed. That is a compliance question for a Pakistani tax lawyer, and it exists whether or not you ever open a US bank account.
Why Mercury says it closed the door
Mercury's chief executive publicly cited a fraud rate above ten percent on signups from certain markets when the 2024 changes were made. We mention it not to excuse the outcome but because founders deserve to know the restriction is a risk-management decision by a private company rather than a legal barrier — which also means it can be reversed.
Worth knowing before you buy
If your plan depends specifically on holding a Mercury account, this structure will not deliver it while you are resident in Pakistan. Buy the LLC for what it does — Stripe access and a credible US entity for international clients — not for banking access we cannot promise.
Common questions
Can I open Mercury if my LLC is American?
No. Mercury's restriction is based on founder residence. Its page states it cannot open accounts for founders living in the listed countries, and Pakistan is listed. Registering a Wyoming LLC does not change where you live.
Does the LLC still make sense without Mercury?
For most Pakistani founders, yes — because the reason they want it is Stripe, which does not support Pakistani businesses at all. If your only goal was a US bank account and you have no payment-processing need, the value is much weaker and you should think carefully before buying.
Do I need SBP approval before forming?
Equity investment abroad by residents generally requires prior SBP permission, with a specific route for startups and fintechs under FE Circular No. 01 of 2021. This is the most legally sensitive part of the structure and it deserves paid advice from a Pakistani lawyer rather than an answer from a formation service.
Form your US LLC from Pakistan
Wyoming filing, Registered Agent, and EIN guidance. $100 state fee, filed in one to three business days.
RazorFile files companies. We are not a law firm, bank, or tax advisor, and nothing on this page is legal or tax advice.