LLC AND BANK ACCOUNT IN USA

[12345]

OffshorePhantom said:
Have you been able to open a personal non-resident account with ITIN at Bank of America or Wells Fargo?

May I ask what branch have you visited if you opened in person?
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I opened a business bank account at Bank of America in Wilmington, Delaware. My LLC was formed in the same state, Delaware but I think it doesn't matter. It was flawless, no documents needed about nature of my business, everything took around 30 minutes.

Because of regulations it's not possible to apply for a US bank account online as non us resident, you'd always need to do it in person.

Apart from the bank account you can also apply for a credit card which gives you nice benefits like 1.5% cash back or free American Airlines miles, I plan to get myself a card soon

Keep in mind that for a business bank account you need EIN as well as ITIN

 

[OffshorePhantom]

12345 said:
I opened a business bank account at Bank of America in Wilmington, Delaware. My LLC was formed in the same state, Delaware but I think it doesn't matter. It was flawless, no documents needed about nature of my business, everything took around 30 minutes.

Because of regulations it's not possible to apply for a US bank account online as non us resident, you'd always need to do it in person.

Apart from the bank account you can also apply for a credit card which gives you nice benefits like 1.5% cash back or free American Airlines miles, I plan to get myself a card soon

Keep in mind that for a business bank account you need EIN as well as ITIN
Click to expand...

Thank you for the info! About the credit card you mentioned are you talking about a personal credit card or a business credit card linked to your business?

Yeah to open a bank account even on Mercury, Brex etc you need an EIN. ITIN for those neo banks it is not mandatory though.

 

[12345]

OffshorePhantom said:
Thank you for the info! About the credit card you mentioned are you talking about a personal credit card or a business credit card linked to your business?

Yeah to open a bank account even on Mercury, Brex etc you need an EIN. ITIN for those neo banks it is not mandatory though.
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A business credit card

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[Alexmorgan]

12345 said:
I opened a business bank account at Bank of America in Wilmington, Delaware. My LLC was formed in the same state, Delaware but I think it doesn't matter. It was flawless, no documents needed about nature of my business, everything took around 30 minutes.

Because of regulations it's not possible to apply for a US bank account online as non us resident, you'd always need to do it in person.

Apart from the bank account you can also apply for a credit card which gives you nice benefits like 1.5% cash back or free American Airlines miles, I plan to get myself a card soon

Keep in mind that for a business bank account you need EIN as well as ITIN
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Is your company annonymous?

 

[12345]

Alexmorgan said:
Is your company annonymous?
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No, it's under my real name. There is no option to be anonymous unless you use fake documents which is very risky

 

[Alexmorgan]

12345 said:
No, it's under my real name. There is no option to be anonymous unless you use fake documents which is very risky
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I mean is your company in public records?

 

[12345]

Alexmorgan said:
I mean is your company in public records?
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No. Some USA states like Delaware, Wyoming and New Mexico don't have public online records of company shareholders

 

[Forester]

12345 said:
I opened a business bank account at Bank of America in Wilmington, Delaware. My LLC was formed in the same state, Delaware but I think it doesn't matter. It was flawless, no documents needed about nature of my business, everything took around 30 minutes.

Because of regulations it's not possible to apply for a US bank account online as non us resident, you'd always need to do it in person.

Apart from the bank account you can also apply for a credit card which gives you nice benefits like 1.5% cash back or free American Airlines miles, I plan to get myself a card soon

Keep in mind that for a business bank account you need EIN as well as ITIN
Click to expand...

@12345, thanks for the really interesting and useful information. It is true that BofA used to be quite open to non-residents in general; but honestly, I would not expect to happen something like the process you described in these days, at least not on the East Coast...
BTW, would you mind sharing your citizenship, evt. current residency (but I guess that the latter was not much of the BofA interest, you are simply non-resident, correct? /of course, if not residing in Iran etc./)?

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[Clearsky Network]

shobi89 said:
Hello everyone,
For the purpose of expanding my outreach and business I am interested in registering a llc in USA and getting a Bank account there as well. If any of the members here knows anyone who can help me out please connect. Thanks .
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I`m not a US expert, but our lawyers usually advise on incorporation in Delaware and account with Mercury or Dime.

It is also possible to open accounts with banks like Chase (you will be charged high onboarding fees), but as a start up wouldnt recommend.

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[12345]

Forester said:
@12345, thanks for the really interesting and useful information. It is true that BofA used to be quite open to non-residents in general; but honestly, I would not expect to happen something like the process you described in these days, at least not on the East Coast...
BTW, would you mind sharing your citizenship, evt. current residency (but I guess that the latter was not much of the BofA interest, you are simply non-resident, correct? /of course, if not residing in Iran etc./)?
Click to expand...

polish citizenship

 

[Forester]

Clearsky Network said:
I`m not a US expert, but our lawyers usually advise on incorporation in Delaware and account with Mercury or Dime.
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I do not consider myself being a US specialist either, however FMPOV, different states have different pros and cons, as Delaware (perhaps the most reputable and the most expensive), Wyoming (perhaps the cheapest but not much open to any business), New Mexico (the issues go there fast), Nevada (perhaps the most open to various businesses but searchable public records)...
Thanks for pointing at Dime ”“ it's new to me. Do they really onboard ”“ remotely ”“ subjects outside of New York and New Jersey?

12345 said:
polish citizenship
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Thank you.

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If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...

 

[Clearsky Network]

Forester said:
I do not consider myself being a US specialist either, however FMPOV, different states have different pros and cons, as Delaware (perhaps the most reputable and the most expensive), Wyoming (perhaps the cheapest but not much open to any business), New Mexico (the issues go there fast), Nevada (perhaps the most open to various businesses but searchable public records)...
Thanks for pointing at Dime ”“ it's new to me. Do they really onboard ”“ remotely ”“ subjects outside of New York and New Jersey?


Thank you.
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They do depending on business activity

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[Forester]

Clearsky Network said:
They do depending on business activity
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Thanks!

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If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...

 

[bibing]

12345 said:
Today I opened a business bank account at Bank of America for my US LLC as non US resident, it was very straightforward. You need EIN and personal ITIN number and US address, a lease agreement from virtual office is enough, you can't apply online as non us resident and need to go the bank branch in person. They didn't ask for any documents about nature of my business.
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Which State? And was the LLC incorporated in that State?

 

[koohl]

OffshorePhantom said:
and then open a bank account for the LLC using Mercury Bank, Brex, Relay & others
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can you name more rather than others? I know the first one you mentioned but after that my knowledge stops, always ready to learn about new services 🙂

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[OffshorePhantom]

koohl said:
can you name more rather than others? I know the first one you mentioned but after that my knowledge stops, always ready to learn about new services 🙂
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Another could be Novel Business Banking or traditional banks like Chase, BoA etc. I am pretty sure there are lot of services 🙂

 

[koohl]

OffshorePhantom said:
Another could be Novel Business Banking or traditional banks like Chase, BoA etc. I am pretty sure there are lot of services 🙂
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they will require personal visit if I read the many threads around here correct?

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My Journey to successful card processing for Replica, IPTV, Adult and Gaming business.
I keep my journey in the closed forums in Mentor Group for less saturating methods.
Please understand that I don't sell any services or do consultancy, you don't need to contact me about that!

 

[OffshorePhantom]

koohl said:
they will require personal visit if I read the many threads around here correct?
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Yeah, traditional banks most definitely.

 

[12345]

bibing said:
Which State? And was the LLC incorporated in that State?
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Company incorporated in Delaware, bank account opened in Wilmington, Delaware but it doesn't matter, bank reps said it can be opened in any state

 

[PinkCat]

12345 said:
Today I opened a business bank account at Bank of America for my US LLC as non US resident, it was very straightforward. You need EIN and personal ITIN number and US address, a lease agreement from virtual office is enough, you can't apply online as non us resident and need to go the bank branch in person. They didn't ask for any documents about nature of my business.
Click to expand...

Funny, I tried with them also with US corp and as a non resident, they didn't even allow me to sit, told me at the door they can't open anything for me 🙂