Recent content by phi303

Thanks! It's the first time I've seen Arival Bank shared here. I'll check it out? Do you use it yourself or have any experience with the signup process? (same question to anyone reading!)

Thanks for info. Unfortunately no big fat stacks - yet ;)! I could create a business front easily however, it wouldn't actually be where the money comes from so I'd always be worried. Why do these banks see Trading & Investing as complicated &/or not want them? From my perspective, it has...

Hmmm, and I thought getting the EIN was what would slow things down! Back to square one... Is Trading (& Investing) more likely to be accepted? That would be more accurate as there is some trading involved (mainly crypto). Or any suggestions / alternative 'banks'?

Unsure how I would position it as business to present. Maybe I could frame it more as investments and trading? But I guess that probably has issues too... Could you elaborate on the reason(s) why it is unlikely to be accepted? Basically, I'd just like a bank account in the name of the LLC...

As a non-US resident LLC owner (EU citizen & EU resident), I've been looking at multiple banks to setup an account with online (mainly from this list: US neo-banks List [For Non-Residents LLCs] ) The LLC is purely for personal investment/asset management (including some from crypto). Because...

Yep; seems that way - exchanges, banks...they all want the damn EIN (and it looks like Coinbase would also like $1,000!). Crank up that fax machine and prepare for action!

Yeah, but I need to get the EIN before can finish/submit the application. It's in progress, but I've been told it could take up to 8 weeks (non-resident).

just trying to get ahead of myself by creating a few exchange accounts. Can't start the bank account application process until EIN which will take at least a few weeks...so Kraken is likely months out. Checking a few others this week and will share if find anything useful.

Also looking for similar: best crypto exchange to use as a single-member LLC (non-resident) to off-ramp from crypto into a bank account (bank account also TBD!). It seems they ask for a lot of docs. Kraken request a “Proof of Business Operating Address (POBOA)” eg. bank account statement.

Thank you for the list :) For a foreign-registered, disregarded entity / single-member LLC, is a US EIN always required to open a bank account in LLC name? Or do any of these banks not require an EIN in this scenario? Some of the faqs on each refer to company/business and don't explicitly...

Looking for ideas for a tax structure for an individual living in Portugal who has NHR status whereby most income is crypto-related (although there is currently not much of it!). The majority comes from passive investments that deliver withdrawals via crypto (some generate their returns from...

Hi everyone, I'm a newbie here. Going to spend some time browsing the forums seeking ideas a low-cost, tax-efficient setup for myself as someone with NHR-status in Portugal given the new 2023 budget and crypto tax rules. Primarily activities are within the crypto space and will have some 2023...