Many also have trusts which are domiciled in Delaware. Are they afraid of the big, bad IRS tax man? No they are not because everything they do is in the open and tax compliant. Why do they choose Delaware instead of offshore jurisdiction for their trusts? Why do their companies have USA bank accounts for BVI entities? Oh, right, their high priced lawyers forgot to read the postings of the schills on this forum. I'll be sure to forward links so they see the error of their ways and maybe contract the professional services being offered on this forum.
How to open USA bank account for offshore company
- Thread starter Piri Erts
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Which private banks would those be?
The bank account is not the relevant factor, it's the fact that you have registered as a foreign business in a state and stated that your "company invests in US assets/securities".
The registration of the company in the state required one to state the reason for registration. I wrote "open bank account with local bank"...24 hours later I had registration certificate.
Also, there are no issues with an offshore company investing its assets in USA. That is NOT a business. Call Schwab International and ask them about personal investment companies...they'd love to speak with you!
Stop confusing having a bank account in USA with running a business in USA. I think it has already been established that anyone with millions can get a USA bank account for their offshore company. If this is so, then every issue you try to link with my company/account would apply to them also. As per your arguments, they all must be as dumb as me for having a USA bank account for their offshore company!
But this is about USA account for the poor people who read this forum. I just posted the key trick: register your offshore company in a state. There is nothing else earth shattering about documents. Then you all spin about IRS and my business in USA as if having ITIN and EIN means you run a business in USA. No, they do not and IRS does not care about people who need these for bank accounts. Of course, if for one moment you do have a business in USA then expect the big bad IRS tax man to find you eventually.
Keep spinning and attacking, but offshore company with USA bank account does not make them liable for any USA taxes on their income, assuming NONE OF IT is connected to the USA. Indeed, BVI company selling legal service to faceless Belize dude living in Seychelles is not liable for USA taxes.
Why don't you try what I posted and if it works then you will really have something useful to sell...no thanks to me needed.....
Which state was that in?
In the absence of a tax treaty - 26 U.S. Code § 881 - Tax on income of foreign corporations not connected with United States business
Your comparing an non-US person being a beneficiary of a US trust with the mess you created for yourself. I have heard is all now....lol. The U.S trustees are persons who open and manage U.S account for HNWI foreigners. They have the bank account relation not the beneficiary. You really have zero knowledge or clue what you talking about...lol. Please do forward links to them so they can laugh at you also....lol. rof/% Sadly your misinformation on U.S accounts has failed miserably again.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
Really??? You are going to bring up that a dividend (among other types of taxable portfolio interest/income) paid by an American company is taxable??? Or that dividends for a USA ETF are taxable? Or distributions from most USA ETFs? Wow...a revelation indeed! Of course, better to invest in that Irish domiciled S&P fund and save 15%...assuming you don't care for utter lack of liquidity in those funds...but I digress!
I already wrote that my company WILL BE LIABLE to pay USA tax on ALL income derived from these types of investments/securities. They are also withheld at 30% by the payer...no tax filing needed. Of course, if I receive a dividend from a USA payer an NO TAX IS WITHHELD then I will have to file a return and pay the tax. Could tax be less with a tax treaty for a company in another country? Sure...but what does that country require when you form company there?
As to state, already narrowed list down considerably. Now do some of your own homework and earn your fees!
I already wrote that my company WILL BE LIABLE to pay USA tax on ALL income derived from these types of investments/securities. They are also withheld at 30% by the payer...no tax filing needed. Of course, if I receive a dividend from a USA payer an NO TAX IS WITHHELD then I will have to file a return and pay the tax. Could tax be less with a tax treaty for a company in another country? Sure...but what does that country require when you form company there?
As to state, already narrowed list down considerably. Now do some of your own homework and earn your fees!
Once again your ignorance shines through! The trustee NEVER has the banking relationship. How long do you claim to be offering bad advice? Any bank will ALWAYS want to know who the beneficial owner of the company (looks right through trust) is, regardless if it is within a trust or not. The trust is NOT a vehicle for anyone to hide in. Given what you said, the trustee opens bank account for beneficial owner and bank only knows about trustee and not beneficial owner? Wow...what a dumb statement! Bank, brokers all know who the beneficial owner of the trust is. They even ask who are the beneficiaries are beyond the grantor. They know EVERYTHING.
Amazing what a fool you are to think that a trustee "has the bank account relation not the beneficiary." Stop before your further embarrass yourself....
Your embarrassing yourself. First understand how a trust works before posting and stop shifting. The beneficiary of a trust is always known to bank so stop pointing out the obvious....lol. You proved my point you really fail to understand basic stuff. You will never accept you are wrong. You will keep posting till your keyboard breaks...lol. I ask others to go read the thread below fully this guy just does not give up like in the other thread rof/%
USA Bank account for BVI company
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
Spin, spin and more spin! Changing subject as you are proven to be a charlatan time and time again. You even parrot what I said and refute your own statement from your prior post. Let me remind you: "They have the bank account relation not the beneficiary."
If trust is revocable, then bank account will be based primarily on bank's assessment of the grantor. If trust is irrevocable, then trustee has full discretion and will open the account. But bank still will make decision on account opening on its assessment of the beneficiaries. Do you think USA bank/broker will open account for Vlad Putin's trust managed by BofA or Citi??
Keep posting...your business prospects get dimmer with every utterance....
If trust is revocable, then bank account will be based primarily on bank's assessment of the grantor. If trust is irrevocable, then trustee has full discretion and will open the account. But bank still will make decision on account opening on its assessment of the beneficiaries. Do you think USA bank/broker will open account for Vlad Putin's trust managed by BofA or Citi??
Keep posting...your business prospects get dimmer with every utterance....
Anyone notice he avoids answering the above question 😉
Or answering the below question about which state he registered his company 😉
Until he answers these questions he is clearly a pathological liar. My bet is he won't answer these questions and will throw excuses and change the subject....hehehehehehehe
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
If you have a US company incorporated in Delaware and want to open a bank account in, say, New York, you have to register your Delaware company with the NY DOS. It would then be listed on the NY DOS site as a "foreign corporation" or a "foreign LLC". "Foreign" as in "not a New York State company". Registering your "foreign" company in a US state ("foreign" as in "from another US state" or "from another country") does not automatically make your company liable for taxes in that state. You do not get a NY tax ID simply by registering your foreign corporation in NY.
Also, "investing in US assets or securities" does not mean you are an investment fund taking money from investors. It just means your company has a brokerage account and invests in US securities. Any company can easily do that and doing so does not require any special registration with the SEC, no more than you have to register your Fidelity IRA or an eTrade account with the SEC.
It is very easy for a foreigner to open a personal bank account in the US. You don't even need an ITIN or a utility bill, a foreign passport is usually enough. Business accounts for a foreign company are a bit more problematic, but there are over 6000 banks in the US, and you can shop around for a friendly bank.
Lol so true... I was this poor man. No way, no US bank will open.
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Scammed people on the forum!
Can you please tell us which exact U.S bank does this with no ITIN?
This would help those other than myself who wish to open a US account....thx.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
Many do, including BofA, Chase, TD, Wells Fargo, Citibank. All no ITIN, no SSN.
Some require a proof of address, which is easy to obtain by simply opening an account with one of the banks that don't require a proof of address, then getting a statement and voila - a brand new proof of address.
Note that some *branches* don't like to open NRA accounts and will turn you away. Simply go to the next branch over.
So you can open an account for example with Citibank in America as an NRA with a foreign address and no ITIN?
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
Yes, as long as you show up in person, provide two proofs of identity and (sometimes) a proof of address (in the US).
This is what I am talking about right here. We both knew already what was done to open a account in U.S and I just wanted to hear it from your own mouth. Proof of address in U.S needed?????? lol.
My question was straight i.e
We know you can open an account with a U.S bank if you provide a U.S address. But that is not what I was asking above. The question I asked is very clear. Next you will say "well whats wrong with providing a U.S address?".
Anyway good luck.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
Is that so? A moment ago you weren't even certain whether it's possible without an SSN or ITIN.
You declared yourself out of this anyway. Obviously you don't want an account in the US regardless of the address required, for fear of the big bad IRS.
The answer was intended for those who do, as you've so graciously pointed out in advance.
I just wanted to expose the BS. That's where my line of questioning was going. You followed my trail and fell for the trap. It is high time you stopped posting half truths as people might actually listen to you and end up in hot water.
I have no interest in U.S accounts but wanted to expose the nonsense talked and I succeeded.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
Finally I understand something, Martin.
I was asking myself what kind of interest you got opening an us bank account 🙂
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Scammed people on the forum!
I was asking myself what kind of interest you got opening an us bank account 🙂
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Scammed people on the forum!
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