Opening a bank account in the USA for a foreign company

[Chontango]

Hello,

Does anyone have any experience opening a bank account in the USA for a foreign company, not registered in the USA, hold by a non-US person, who does not have any ties to the USA (no SSN, no physical address in the US).

Any banks that you can recommend?

 

[JustAnotherNomad]

What about Mercury or Zenus Bank?
I don’t have any experience with either, but that’s their specialization, isn’t it?
TransferWise should also work.

Depending on your revenue and the kind of your business, high-street banks should also be willing to work with you. Have you tried the banks in your home country to see if they can help?

 

[Chontango]

Thanks for the suggestions. I'll give a try to Mercury Bank today. Transferwise does not fly for me, I need a real bank, not an EMI and Zenus does not seem to operate yet.

For high-street banks, I tried Chase and they were requiring a US proof of address for myself & US registration for my company.

If it doesn't work with the options I'm trying currently, I'll intend to go switch over to the local branch of a US bank here and then try to open an account in the US with them.

 

[JustAnotherNomad]

If a US bank has a branch in your country, then asking them is probably a good idea.

Otherwise you can also check if you can apply for an EIN for your company, maybe even a virtual address. Maybe that would help. I don’t think there should be any tax implications, but you should confirm this with a CPA to be sure.
As for your personal proof of address, a cellphone bill from a provider like Google Fi usually works. Some banks are also happy to open accounts for non-residents, as long as you provide a US mailing address. The bank statement would show the mailing address and you can use the bank statement as proof of address.

 

[ecool]

From Mercury FAQ:

What do I need to apply for an account?
You’ll need a U.S. company with a federal EIN, your company’s official formation documents, and a picture of your government ID (e.g. a passport or US driver’s license).

So I guess Mercury is not an option for you.

 

[Jbb1]

Why don’t you get a EIN for your company? You will be able to open a bank account with it

 

[Chontango]

It looks like really the easier thing is to open an LLC in the US rather than trying to obtain a EIN for my foreign company. I'm exploring that avenue right now.

Thanks for everyone's contributions,

 

[JustAnotherNomad]

It looks like really the easier thing is to open an LLC in the US rather than trying to obtain a EIN for my foreign company. I'm exploring that avenue right now.

Check the tax consequences. Especially branch office tax.

 

[LMF]

I just got my EIN number for my Delaware LLC. I am about the set up Transferwise but honestly I don't know which adress/country to register with. Should it be the adress where my LLC is registered? It's through a mailing company. Hope someone can help me answer this so I can get through to the next step.

 

[exprtadvisrdev]

I just got my EIN number for my Delaware LLC. I am about the set up Transferwise but honestly I don't know which adress/country to register with. Should it be the adress where my LLC is registered? It's through a mailing company. Hope someone can help me answer this so I can get through to the next step.

Use the registered agent address

 

[isyet]

Mercury + TW works very well. I recommend it.

 

[bestcase]

Thanks for the suggestions. I'll give a try to Mercury Bank today. Transferwise does not fly for me, I need a real bank, not an EMI and Zenus does not seem to operate yet.

For high-street banks, I tried Chase and they were requiring a US proof of address for myself & US registration for my company.

If it doesn't work with the options I'm trying currently, I'll intend to go switch over to the local branch of a US bank here and then try to open an account in the US with them.

So what is your advise now ?
Mercury bank don’t work with my country.
Is it possible for a remote opening of high-street us business bank account for non-resident? I also want to form llc, but don’t know how to solve the problem with a bank. Please help.

 

[Chontango]

Remote opening for non-resident seems so far really not feasible for a high-street us bank (there might be options I haven't found out but this is my current experience).

However, once your LLC is opened and you have your EIN, it looks like (I haven't been so far yet in the process) there is no problem in opening a bank account with a US high street bank.

 

[exprtadvisrdev]

there is no problem in opening a bank account with a US high street bank.

Without traveling, an account in the US with a high street bank for you LLC is 99.99% not possible