Recent content by KraftyAndy

Unless that company has an existing relationship with HSBC or it's a multi-million dollar international company, they will not help him.

HSBC does not offer personal or business banking in Germany. Unless you're a large corporate or multinational company, HSBC Germany won't be interested.

If you're a resident in Sweden, then you might be able to structure something: Entities formed/registered/incorporated outside of Sweden (foreign legal entities) are not considered resident in Sweden for income tax purposes, not even if their place of effective management is situated in Sweden.

Probably easiest to start out with, where are you based?

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

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".

I completely agree with this. There are three things that stand out for me here: 1) There is no treaty protection - so you are at the mercy of the IRS if they believe the company is engaged in a trade or business in the US. 2) By registering this company in a US state, you potentially now...

In one month, you've gone from asking how to open a US bank account for your newly formed BVI business to opening a deposit account and getting an ITIN with all the correct documentation? How is that even remotely possible? To safe us all a lot of time - post the name of the 'big' bank that...

There are too many question marks about what he has written above. As a general guide, US banks will not open an account for a business incorporated outside of the US. There are some exceptions, however these are primarily where you own a business that has an existing banking relationship with...

The IRS does not issue ITINs to every Tom, Dick and Harry. There are two main reasons the IRS issues an ITIN : A non-resident US alien is required to file a tax return (ITIN required on the 1040NR) A non-resident US alien is claiming tax treaty benefits In addition, it's not like you ring the...

How did you get an ITIN if you have no US tax liability?

EIN/ITIN are just identification numbers, however they put you on the radar. You said that your company is incorporated in the BVI. If your company has business activities in the United States (including virtual), you may be required to file an annual return with the IRS. The absence of a DTT...

You would have control through a declaration of trust. You would be listed, I believe, as a person of significant control. I don't think there is any way around this.

This is most likely the reason the account was suspended/closed. I'm surprised the personal account in the US has not been closed also.

Why not use a nominee director/shareholder service? It would work out a lot cheaper than forming a company in Switzerland (and all the red tape that would go with this).