TransferWise & US LLC?

[John Andrews]

Does anyone have a TransferWise or a Mercury.co account for their US LLC? How long do you have it and how much did you use it?

I'm thinking about getting a US LLC myself but I don't want to spend $$$ and end up with no EMI/bank account...

I live in the EU and have a local company in my home country for which I have a TW with USD details so I assume I'd also get those for the US LLC without a problem.

Also, can anyone share some info about allowed business expenses for foreign owned, disregarded LLCs?

 

[hmamunj]

Its possible to do it . Would you mind telling more details about your requirements‌ ?
Why do you need an LLC ?

 

[fshore]

If the income is not taxable in the US, then‍ there wouldn't be anyone in the US to question if expenses are allowed or not.⁠
Só you should check with your resident country what expenses are allowed.

 

[John Andrews]

Due to‍ stupid EU VAT invoice laws I need a US LLC because I would like to⁠ know as less as possible who my clients are. For example if I were doing⁤ it through my local company I'd have to specify buyer details on each invoice.

I'd open a New Mexico LLC + TransferWise/Mercury + PayPal/Stripe, so I'm asking if anyone has⁣ a similar setup.

 

[WoWNull]

for TW its takes around 3‍ to 5 days to verify all things and accept it, for Mercury they didn`t approve⁠ my PoA so i couldn`t continue but some people say its good ^^.

for PayPal⁤ and Stripe you need to have SSN for USA account, not sure if you can⁣ open local Stripe and link it with USA LLC, for PayPal they refuse that they⁢ say for your LLC you need to have USA account.

 

[John Andrews]

Can't I open a US PayPal account using a⁢ US IP (VPN)?

 

[WoWNull]

no they need ssn, i have person in usa and he cant open‌ it for me bcuz he dont have ssn (he is student so they dont provide‍ this to him as per rules)

 

[hmamunj]

IF you can manage ITIN or a USA resident manager. You might be able to‌ solve this issue.
Try it

 

[WoWNull]

yes its possible for paypal‍ but last offer i got for itin was around 700$ so it was cheap for⁠ me to make uk company hhhh

 

[hmamunj]

Agreed with you . But people often requires USA .

 

[GGMonday]

I used my Delaware LLC with TF. They were only EMI who has onboard me,‌ so I was super happy. I think I have opened the acc within 48 hours‍ including approval.
That used to work perfectly for a few month, but then they have⁠ notify my about closing the acc with out disclosure the reasons. Perhaps due to regular⁤ bigger payments to my Ukrainian supplier (Ukraine is accounted as grey banking area thees days)⁣ or cuse I had personal TF account and used to send myself a sallary (they⁢ later closed my personal acc as well) for cashing out.
But in general it was︀ super easy and fine to use TF.

 

[Mark Rucken]

Do you mind︁ telling us exactly how much money a month did you send to Ukraine? Trying not︂ to make the same mistake as TW currently works perfect for Delaware LLC.

 

[GGMonday]

Smth like 35-40 K Eur/ month , with⁠ single transactions max 20K . I think If I had all transactions under 10K it⁤ would have been fine. But I think, they didnt like mostly that I used to⁣ transfer up to 4K/month to my personal acc for further cashing out with credit card.⁢

By the way, I also tried to open acc in EMI from Finland B2B pay.︀ At first sight they told they would on-board US LLC , but after I told︁ the I work with Ukraine and Russia some times, they have totally refused me with︂ acc opening.

Anyway, now we shifting from US LLC to HK limited , cuse now︃ its getting more and more complicated with US LLC's

 

[Debrog]

Any updates about this setup⁣ please ?

 

[Debrog]

Any news about the setup⁣ please ? Did you succeed in opening PP/Stripe ?

 

[John Andrews]

As it turns out I *do not* need to have client info on my invoices‌ I didn't proceed with this setup.

Also, the US wants to pass a UBO register‍ bill so it doesn't make much sense for me to open a LLC.

 

[JohnLocke]

What setup did you proceed with if not the the US? Have you looked into‌ Georgia which seem to be a very good alternative.

 

[Reboot]

Are you a EU resident?

 

[John Andrews]

Yes.

I went with an EU⁠ company.

 

[Reboot]

Transferwise might open‌ you an account for a US LLC but then you will be registered as the‍ person in charge of the company for taxes in EU countries, no?