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Mercury requires US Operations

Not necessarily for proof of us business.

You can send them an invoice from stripe and see how it works.

If the invoice is on the name of your business they will consider it as proof of operation.

We sent them a reseller contract and that worked as well.

Proof of funds is different but for proof of US operation it just mean you have some kind of relation with the US, supplier or customer etc..

You can always try anyway, worst case scenario they don't accept it and ask you again.
 
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Looks like they may have some regulatory issues (or at least concerns) that lead them to becoming strict. Most US BaaS banks have gone through FDIC consent orders already. Definitely worrysome for foreigners making use of US LLCs. Hardly any online banks/Fintech programmes backed by US banks want to touch them already.

Mercury is seemingly planning to limit (or potentially even offboard) customers from a couple of large jurisdictions, see CEO statement below.

1721810703662.webp
 
Looks like they may have some regulatory issues (or at least concerns) that lead them to becoming strict. Most US BaaS banks have gone through FDIC consent orders already. Definitely worrysome for foreigners making use of US LLCs. Hardly any online banks/Fintech programmes backed by US banks want to touch them already.

Mercury is seemingly planning to limit (or potentially even offboard) customers from a couple of large jurisdictions, see CEO statement below.

View attachment 7327
Croatia is considered high risk now ?
 
Looks like they may have some regulatory issues (or at least concerns) that lead them to becoming strict. Most US BaaS banks have gone through FDIC consent orders already. Definitely worrysome for foreigners making use of US LLCs. Hardly any online banks/Fintech programmes backed by US banks want to touch them already.

Mercury is seemingly planning to limit (or potentially even offboard) customers from a couple of large jurisdictions, see CEO statement below.

View attachment 7327


I know this heaven is going to off soon

But if place dead there is always another that gonna be life in it

UAE dead and soon US

There is a potential in Oman and Bahrain then others later

Anyway Mercury is a great Bank and if you see they are calmly pushing you to match the regulations that they are forced to follow in order to keep them in market
 
Here is the complete list with all prohibited countries to open a Mercury account.
https://app.mercury.com/help/prohibited-countries

If you have a Mercury account and the ubo is from one of those countries you can't transfer funds anymore outside of the US and you get a notification the account will be closed within 30 days.

If the money can't be withdrawn within that period or you don't have another account in the US they will send a cheque to the registered address of your LLC.

Mercury isn't that great
 
Here is the complete list with all prohibited countries to open a Mercury account.
https://app.mercury.com/help/prohibited-countries

If you have a Mercury account and the ubo is from one of those countries you can't transfer funds anymore outside of the US and you get a notification the account will be closed within 30 days.

If the money can't be withdrawn within that period or you don't have another account in the US they will send a cheque to the registered address of your LLC.

Mercury isn't that great


There is no wow bank in US generally

But Mercury is the best option until now
 
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Does asking for "US operations" mean they are probing for ETBUS?

I'm guessing,
Office and/or Employees = All income is ECI
Some US Customers = Only that US income is ECI
Suppliers/vendors = No ECI

Help me understand this better

Thanks
 
  • Like
Reactions: yngmind
Does asking for "US operations" mean they are probing for ETBUS?

I'm guessing,
Office and/or Employees = All income is ECI
Some US Customers = Only that US income is ECI
Suppliers/vendors = No ECI

Help me understand this better

Thanks
Or maybe they are more interested in business from treaty countries that can legally operate distribution centers in the US without any tax consequences?