us bank account with 'foreign qualification' ?

[dpastco]

ok, so I have been talking to some consultants, and they are telling me the following:

... best way to proceed is to open the SOMEWHERE LLC and then foreign register that LLC in Florida. This will allow you to open a US bank account ...

I researched the 'foreign qualification' and imo it's about something else. They are also the first ones who ever suggested that and I don't really believe them.

Has anyone more information on that? (I'd love to avoid the delaware llc)

 

[JohnLocke]

Usually it requires that you have a SSN (social security number) in order to open an account in the US! OR you need someone to do the underwriting for you which is difficult to find as it seems.

Toggle signature

>> Unlock the Power of OffshoreCorpTalk: Become a Member of the Mentor Group Gold <<​

Latest Video Interviews, Offshore Company Resources, Payment Processing Tips & Tricks, Articles and Anonymity Hints only a click away!
Support the Freedom of Speech of our Community

Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​

 

[JohnLocke]

It means someone will open the account for you. He / She will be responsible for any transactions on the account.

Toggle signature

>> Unlock the Power of OffshoreCorpTalk: Become a Member of the Mentor Group Gold <<​

Latest Video Interviews, Offshore Company Resources, Payment Processing Tips & Tricks, Articles and Anonymity Hints only a click away!
Support the Freedom of Speech of our Community

Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​

 

[dpastco]

you are talking business account now, not private, or? private accounts are no problem whatsoever w/o ssn.

are you aware if banks would open the account with a local underwriter also for offshore llcs? (that would work for me)

 

[JohnLocke]

there is no difference here, the bank will require a SSN number for the UBO of the company!

Toggle signature

>> Unlock the Power of OffshoreCorpTalk: Become a Member of the Mentor Group Gold <<​

Latest Video Interviews, Offshore Company Resources, Payment Processing Tips & Tricks, Articles and Anonymity Hints only a click away!
Support the Freedom of Speech of our Community

Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​

 

[Milky Moon]

Admin said:
there is no difference here, the bank will require a SSN number for the UBO of the company!
Click to expand...

Non-US Resident - Registered Delaware LLC - Looking for Bank Account ”¦ - TD Helps | TD Bank

 

[JohnLocke]

Milky Moon said:
Non-US Resident - Registered Delaware LLC - Looking for Bank Account ”¦ - TD Helps | TD Bank
Click to expand...

have you tested it, is it possible for someone in Spain to open an account with them?

Toggle signature

>> Unlock the Power of OffshoreCorpTalk: Become a Member of the Mentor Group Gold <<​

Latest Video Interviews, Offshore Company Resources, Payment Processing Tips & Tricks, Articles and Anonymity Hints only a click away!
Support the Freedom of Speech of our Community

Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​

 

[Milky Moon]

Admin said:
have you tested it, is it possible for someone in Spain to open an account with them?
Click to expand...

I have opened a personal account with them, works great. You have to do this in person.

I do not have an LLC so I have no experrience with them in that regard.

 

[JohnLocke]

great, thank you @Milky Moon that's at least something for most of us. It could be of great interest for many I think if someone will try with an LLC and post here.

Toggle signature

>> Unlock the Power of OffshoreCorpTalk: Become a Member of the Mentor Group Gold <<​

Latest Video Interviews, Offshore Company Resources, Payment Processing Tips & Tricks, Articles and Anonymity Hints only a click away!
Support the Freedom of Speech of our Community

Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​

 

[Martin Everson]

If you are willing to invest a a bit of money than you can just as a non-US person open a bank account with Ever Bank in US online without visiting.

Banking, Mortgages & Global Markets :: EverBank

Don't bother if your not interested in investing a little something in their investment products...they will just reject you as there is nothing in it for them.

Just get an ITIN first (see below) and away you go.

Taxpayer Identification Numbers TIN | Internal Revenue Service

Toggle signature
Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Milky Moon]

The problem with Everbank is that will only open an account when you buy one of their investment products. This will make you automatically liable for US taxes. You do not want the IRS to be interested in you.

If you choose to bank in the US, sign-up for a -non-interest baring current account. No interest = No income = No IRS = A happy life.

 

[dpastco]

I am not really sure, but are you guys talking about personal accounts or business accounts?

because personal accounts are no problem whatsoever. get a local address (I use postscanmail). You dont need in ITIN at all for that and it is not restricted to some smaller banks, BofA, Chase, ... I wasn't declined once, In/Out half an hour. (of course you need to visit)

 

[dpastco]

I'll be damned.

So, I digged into the foreign registration thing, and it really is possible to do a 'foreign qualification' for an non-US entity.

I looked at the official forms in Florida for registering a LLC and corporation
http://form.sunbiz.org/pdf/cr2e027.pdf
http://form.sunbiz.org/pdf/cr2e007.pdf

"If the certificate is in a foreign language, ..." or from second one
"State or country under the law of which it is incorporated"

The question of course remains, if banks would open an account. But you pretty much have a locally registered LLC, if they would open an account for a local LLC, why not for a registered one. Those calls should be easier than Puerto Rico tough.

 

[Martin Everson]

@dpastco What is the purpose of you wanting to open a US bank account out of interest?

Toggle signature
Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[dpastco]

paypal (like for most i guess)

 

[Milky Moon]

Martin Everson said:
@dpastco What is the purpose of you wanting to open a US bank account out of interest?
Click to expand...

Get a US debit card and be able to access US-only shops & services (hulu etc).

 

[Martin Everson]

Seems bizarre to want to put yourself at the mercy of the US by having any financials connections to it. However people have their reasons I suppose and want that sort of risk.

Toggle signature
Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Milky Moon]

Martin Everson said:
Seems bizarre to want to put yourself at the mercy of the US by having any financials connections to it. However people have their reasons I suppose and want that sort of risk.
Click to expand...

The risk is minimized when using a non interest bearing account. (= no taxes = no IRS)