EASY bank in USA
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The best solution is to register the non-US company as a foreign corporation in the US. It will then be treated like a US company by banks (you need a EIN).
I am not qualified to give tax or legal advice.
Every situation is different. In my case, I don’t have employees/offices/storage in the US. I only have one business partner who pays royalties/commissions. Those payments are subject to the DTA between the US and the other country.
Every situation is different. In my case, I don’t have employees/offices/storage in the US. I only have one business partner who pays royalties/commissions. Those payments are subject to the DTA between the US and the other country.
There is at a U.S. bank (we work with them a lot) that will open business account for a non-US business entity.
Citibank, Chase, Wells Fargo will only will only open an account for a a U.S. entity but it could be owned or controlled by a non-resident.
Qualifying/registering a foreign company in the U.S. won't do it for these banks.
Generally, registering a foreign company in the U.S. (in some states it is referred to as receiving Authority to Transact, in others receive Foreign Qualification, etc.) is tricky from the taxation point of view. Such US presnce may well be regarded by the IRS︀ as a branch of a foreign corporation.
Lastly, if you are looking for a personal account a number of banks will open one for you as a non-resident.
Citibank, Chase, Wells Fargo will only will only open an account for a a U.S. entity but it could be owned or controlled by a non-resident.
Qualifying/registering a foreign company in the U.S. won't do it for these banks.
Generally, registering a foreign company in the U.S. (in some states it is referred to as receiving Authority to Transact, in others receive Foreign Qualification, etc.) is tricky from the taxation point of view. Such US presnce may well be regarded by the IRS︀ as a branch of a foreign corporation.
Lastly, if you are looking for a personal account a number of banks will open one for you as a non-resident.
The standard documents requested are:
Completed questionnaire plus:
For the entity:
- Company formation documents
- Company tax ID (EIN)
Note: if the US company is owned by another company (US or foreign), trust, etc. you'd need to provide company documents and proof of ownership for each entity in the chain until the ultimate beneficial owner
For the beneficiary:
- Passport
- Secondary ID such as National ID card, driver's license, US Visa
- Proof of address; preferably in the form of recent utility bill
- US SSN or ITIN - ONLY IF︀ YOU HAVE ONE.
In addition to the above, Chase, Wells Fargo, Bank of America︁ require proof of a U.S. address for both company and the owner/signer. You can use︂ the same address if company is home-based .
business.
Lastly, you will need to visit︃ a branch in person.
Completed questionnaire plus:
For the entity:
- Company formation documents
- Company tax ID (EIN)
Note: if the US company is owned by another company (US or foreign), trust, etc. you'd need to provide company documents and proof of ownership for each entity in the chain until the ultimate beneficial owner
For the beneficiary:
- Passport
- Secondary ID such as National ID card, driver's license, US Visa
- Proof of address; preferably in the form of recent utility bill
- US SSN or ITIN - ONLY IF︀ YOU HAVE ONE.
In addition to the above, Chase, Wells Fargo, Bank of America︁ require proof of a U.S. address for both company and the owner/signer. You can use︂ the same address if company is home-based .
business.
Lastly, you will need to visit︃ a branch in person.
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