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Advice for setting up an LLC in USA and Merchant (non-US)

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seandorschner

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Oct 15, 2019
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#1
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Hi! I am a resident of the Philippines. I wanted to start a company that offers publishing services to authors in the USA and Canada who are interested to publish their books (e-book and paperback). I understand that I setting up an LLC in USA (with business address and US phone number) can be done remotely. However, I need any recommendations for a merchant account that caters non-US residents. I heard about STRIPE and STRIPE Atlas (but I've read somewhere that Atlas no longer assist aliens in opening a US bank account remotely).

I've also heard about Payoneer, but have read many reviews about their accounts and funds being closed down (including STRIPE). I was wondering if my business can be considered a high-risk business since I am based in the Philippines.

Someone offered to partner with me in the PH since she has a relative who lives in the USA who could set-up the company on our behalf. If I am going to choose this route, what should I need to secure? I have trust issues as well since I know that her relative could have access to bank accounts.

I also heard about RapidFormations in UK, and I also find it interesting since I am also planning to target clients in UK.

Thank you in advance!
 
#2
You want to look into Stripe.com/Atlas that may be what woks best for you. Otherwise will CCBILL be an option for a LLC but I don't know how to set this up.
 
#5
Hi Marc! I also came across TurnerLittle.com which is currently advertised on this site. They said they could also help me open a bank account in Puerto Rico (which is a US territory) and also provide a merchant account. What do you guys think about this? Will this make me able to process credit card and debit card payments from my clients in USA and Canada? A
 
#6
I would consider your option with your US elative as quite secure. The banks in America have very good identiy theft avoidance guidelines. So after you changed the account login alias, the password, the email and sms number and eve enabled 2factor it is almost impossible to transfer funds without your knowledge. Even if they would go into a retail branch they would be either rejected or you will be notified before the transaction.
(Works witht the US major banks like BoA, Chase, USbank, simple, ally, whatever. Can't speak for smaller banks)

I guess the bank in Puerto Rico will be the Euro Pacific Bank, if turner little guarantees you are merchant account this would also be a good option of course. As I assume you are doing everything in your own name, without using nominees, so you shouldn't run into problems opening the bank account. If EPB is a good bank or not stands on a different site. I had my problems with them, however I guess a lot of people like the bank and it is quite commonly used in the offshore world. As you are from the Philippines and not from Europe you shouldn't run into as many problems as we Europeans do with the Euro Pacific Bank.
 
#7
seandorschner said:
Hi Marc! I also came across TurnerLittle.com which is currently advertised on this site. They said they could also help me open a bank account in Puerto Rico (which is a US territory) and also provide a merchant account. What do you guys think about this? Will this make me able to process credit card and debit card payments from my clients in USA and Canada? A
Click to expand...

Turner Little is going to open a corporate Euro Pacific Bank account for you. You can search the forum on people's opinions of this bank.
 
#8
neweraoffshore said:
I would consider your option with your US elative as quite secure. The banks in America have very good identiy theft avoidance guidelines. So after you changed the account login alias, the password, the email and sms number and eve enabled 2factor it is almost impossible to transfer funds without your knowledge. Even if they would go into a retail branch they would be either rejected or you will be notified before the transaction.
Click to expand...
What about if they had ordered cheques before you got the login? You wouldn't be aware of the cheques and while you could dispute a cheque it might be difficult if you are not the real signer on the account.
 
#9
@fshore that's a good point! I don't know much about cheques and never used them in my whole life. But I guess it is seen in online banking if cheques have been ordered. I can see an (empty) cheque order history. But it still may be possible to get cheques not being seen in the order history, espacially when ordered before getting online bank access. Will ask my banker if they will then still be seen or not! Thank you for bringing up this idea, will try to find an answer.
 
#10
neweraoffshore said:
As I assume you are doing everything in your own name, without using nominees, so you shouldn't run into problems opening the bank account. If EPB is a good bank or not stands on a different site. I had my problems with them, however I guess a lot of people like the bank and it is quite commonly used in the offshore world. As you are from the Philippines and not from Europe you shouldn't run into as many problems as we Europeans do with the Euro Pacific Bank.
Click to expand...

I've read some of their verified reviews on Trustpilot... there were a couple of bad reviews dated back in 2017, but most of the reviews dated within 2018-2019 were good. I only plan on opening a business bank account and would rarely accept payments from my client via wire transfer... thank you so much for your help
 
#11
neweraoffshore said:
@fshore that's a good point! I don't know much about cheques and never used them in my whole life. But I guess it is seen in online banking if cheques have been ordered. I can see an (empty) cheque order history. But it still may be possible to get cheques not being seen in the order history, espacially when ordered before getting online bank access. Will ask my banker if they will then still be seen or not! Thank you for bringing up this idea, will try to find an answer.
Click to expand...
Many banks also give you 2-3 starter cheques when you open the account.
 
#12
@fshore found a solution. Checked with a few US banks. Under the "check payments" tab they also have a tab which says "stop payment on a check" there you can report lost or stolen checks. Just file the lost check form and you can lock all checknumbers. So after you got an account with a nominee, just do this after your first login. Thanks for bringing this up. Never had checks on my record as I never used them!
 
#13
neweraoffshore said:
@fshore found a solution. Checked with a few US banks. Under the "check payments" tab they also have a tab which says "stop payment on a check" there you can report lost or stolen checks. Just file the lost check form and you can lock all checknumbers. So after you got an account with a nominee, just do this after your first login. Thanks for bringing this up. Never had checks on my record as I never used them!
Click to expand...
You have to know the cheque number. So you would have to know about any starter cheques and what number they have. Also stop payment is normally valid for only 6 months, and you have to pay for it, often $30. They normally recommend that you open a new account if you lose a chequebook, as stop payment on a cheque is only temporary. And anyone with the routing number and account number can withdraw from your account anyway by printing their own cheques (however the bank will cover it if it's not authorised, but if you are not the real signer on the account the it might be difficult to claim it's not authorised).
 
#14
@fshore, you can block all cheque numbers. You can even fill out the checknumber form with values like 0-999999. They allow to block a range of checks at the banks I checked.
To fully prevent this he should ask for a blanco purchase agreement from his relatives, so he can always sign it and take over 100% ownership. So he should have a good chance to dispute the cashed in check. Just in case.
 
#15
Hi @Admin has anybody checked DelawareAgency before? Their site offers business bank opening for non-residents... including EIN and ITIN.
 
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