Going to the U.S to open a business bank account

[tomboy]

Hi all -

I have a U.S LLC incorporated in Delaware since 2019. I am a non U.S resident/ nor citizen. So far, I've been using a mix of EMI and Neo bank to receive money from my clients and it has been working pretty well.

However, I am flying to the U.S in a few month and I would like to take advantage of my trip there to open one or a few bank account for my U.S LLC. I've been reading over the years that if you're physically going to the bank they can open business bank account for non resident US LLC.

Not to miss this opportunity, I would like to come prepared - I was wondering if someone on this forum ever did it and if yes, here are my question :

1. what kind of documents should I bring with me ? anything besides the company docs ?
2. do they require an address in the U.S ? if yes, how can I get one since I believe my registered agent address will not work. Should I rent a virtual office at Regus or something similar? would that work since I won't manage to get a utility bill ? or a mobile phone bill would do the job ?
3. any precise bank known for opening business bank account for foreign owned LLC ? I remember reading a post from someone that opened a bank account at Citibank in Miami for example a few years ago, any other bank/suggestion ?
4. do I need to book an appointment or can I just walk in the branch and ask to open a bank account ?

anything else I should know/bring before ?

thank you in advance guys.

 

[Wyoming]

US citizen and resident here so I will try to answer your questions but hopefully there is a recent example with someone like you that can respond. Before I answer, I have a question for you, where in the US are you visiting? I may be able to provide some additional details.

Before you go, make an appointment with the bank online. Expect to wait beyond your appointment time.
Bring:

• Passport, your local ID, and something else with your name on it, a credit card work. KYC.
• Company docs.
• EIN
• A US based address. Most banks will allow you to immediately have all correspondence online, but they will all want a mailing address. Double check your registered agent wont take your mail. No need to for a utility bill, at least in my experience and the foreigners who I know who opened in Wyoming.
• A prepared answer on your business including turnover and type of business.
• Cash for an initial deposit. Every bank I opened with $100.

Friendly banks for foreign owned LLCs are Key Bank, Chase, Fifth Third Bank, TD Bank, and Wells Fargo. If in Miami I know Regions Bank has been friendly. Let me know where you will be. Check online with the bank or call them to verify. Some banks previously friendly like Citi or Bank of America either will make it difficult or impossible to open. A web search can help narrow down.

 

[ecool]

US citizen and resident here so I will try to answer your questions but hopefully there is a recent example with someone like you that can respond. Before I answer, I have a question for you, where in the US are you visiting? I may be able to provide some additional details.

Before you go, make an appointment with the bank online. Expect to wait beyond your appointment time.
Bring:

• Passport, your local ID, and something else with your name on it, a credit card work. KYC.
• Company docs.
• EIN
• A US based address. Most banks will allow you to immediately have all correspondence online, but they will all want a mailing address. Double check your registered agent wont take your mail. No need to for a utility bill, at least in my experience and the foreigners who I know who opened in Wyoming.
• A prepared answer on your business including turnover and type of business.
• Cash for an initial deposit. Every bank I opened with $100.

Friendly banks for foreign owned LLCs are Key Bank, Chase, Fifth Third Bank, TD Bank, and Wells Fargo. If in Miami I know Regions Bank has been friendly. Let me know where you will be. Check online with the bank or call them to verify. Some banks previously friendly like Citi or Bank of America either will make it difficult or impossible to open. A web search can help narrow down.

What about personal bank account for non residents? I guess that is impossible right?

 

[miketrnd]

I believe you need an ITIN number to open a personal bank account if you are not a resident of the US. Some banks even want an ITIN if you are opening a LLC account (foreign owned disregarded entity). Wells Fargo was one of the banks that didn't ask me for ITIN. I haven't tried the others.

About Form W-7, Application for IRS Individual Taxpayer Identification Number | Internal Revenue Service

Information about Form W-7, Application for IRS Individual Taxpayer Identification Number (ITIN), including recent updates, related forms, and instructions on how to file. Form W-7 is used to apply for an ITIN, or to renew an existing ITIN.

www.irs.gov

 

[tomboy]

US citizen and resident here so I will try to answer your questions but hopefully there is a recent example with someone like you that can respond. Before I answer, I have a question for you, where in the US are you visiting? I may be able to provide some additional details.

Before you go, make an appointment with the bank online. Expect to wait beyond your appointment time.
Bring:

• Passport, your local ID, and something else with your name on it, a credit card work. KYC.
• Company docs.
• EIN
• A US based address. Most banks will allow you to immediately have all correspondence online, but they will all want a mailing address. Double check your registered agent wont take your mail. No need to for a utility bill, at least in my experience and the foreigners who I know who opened in Wyoming.
• A prepared answer on your business including turnover and type of business.
• Cash for an initial deposit. Every bank I opened with $100.

Friendly banks for foreign owned LLCs are Key Bank, Chase, Fifth Third Bank, TD Bank, and Wells Fargo. If in Miami I know Regions Bank has been friendly. Let me know where you will be. Check online with the bank or call them to verify. Some banks previously friendly like Citi or Bank of America either will make it difficult or impossible to open. A web search can help narrow down.

Thank you so much for your answer, it's very clear and detailed, very helpful !
I will be a few days in NYC and then in Miami.
thank you again !

 

[fredouille1973]

Hi about documents, don't worry with apostilles, they don't care. cert of incorporation, nomination of the partner, EIN.

you need to receive cards a mailforwarding, better to have a us mobile, t mobile for example will do it

for thanks, 1 bank can open in 1 state and in another one not... it is not easy.

fargo still opens everywhere, but no wires out of the usa.. cashout with card only

in which state are you going ? did you considered online banks ? they are good if you don't receive funds from outside the US

 

[mgreenly]

some banks like wells fargo maybe frozen account and request you to go to branch

 

[BrettSilverman]

US citizen and resident here so I will try to answer your questions but hopefully there is a recent example with someone like you that can respond. Before I answer, I have a question for you, where in the US are you visiting? I may be able to provide some additional details.

Before you go, make an appointment with the bank online. Expect to wait beyond your appointment time.
Bring:

• Passport, your local ID, and something else with your name on it, a credit card work. KYC.
• Company docs.
• EIN
• A US based address. Most banks will allow you to immediately have all correspondence online, but they will all want a mailing address. Double check your registered agent wont take your mail. No need to for a utility bill, at least in my experience and the foreigners who I know who opened in Wyoming.
• A prepared answer on your business including turnover and type of business.
• Cash for an initial deposit. Every bank I opened with $100.

Friendly banks for foreign owned LLCs are Key Bank, Chase, Fifth Third Bank, TD Bank, and Wells Fargo. If in Miami I know Regions Bank has been friendly. Let me know where you will be. Check online with the bank or call them to verify. Some banks previously friendly like Citi or Bank of America either will make it difficult or impossible to open. A web search can help narrow down.

Any idea why Chase or Bank of America became like this unfriendly? I remember easily opening business checking accounts there a couple years ago

 

[tomboy]

Hi about documents, don't worry with apostilles, they don't care. cert of incorporation, nomination of the partner, EIN.

you need to receive cards a mailforwarding, better to have a us mobile, t mobile for example will do it

for thanks, 1 bank can open in 1 state and in another one not... it is not easy.

fargo still opens everywhere, but no wires out of the usa.. cashout with card only

in which state are you going ? did you considered online banks ? they are good if you don't receive funds from outside the US

Thank you for your answer.

If I open an account with Wells and get a debit card, will I be able to cash outside of the U.S ?

I will be in NYC and Miami. I already have online banks and it works pretty good to be honest. But since I will be there, I thought of opening bank account in the U.S as a back up solution mostly.

thanks again for your help!

Any idea why Chase or Bank of America became like this unfriendly? I remember easily opening business checking accounts there a couple years ago

Well he said in his post that JPM would open account to foreign owned LLC - you think they won't?

 

[slink]

I am flying to the U.S in a few month and I would like to take advantage of my trip there to open one or a few bank account for my U.S LLC.

Hi did you go yet, and if so were you successful opening a bank account?