Yes I was thinking the same thing. Any client that would come to me and has a U.S account and says they are not a U.S person I would reject automatically. 9/10 times the person is a liar and has either a Green Card hanging around after living in U.S, U.S reporting obligations with ITIN/SSN, or has a U.S passport as a second passport. Either way I don't care to hear their full story over how they came to get a U.S account and just cut them off...lol. Transferwise may have the same suspicion.
You see Transferwise failing to identify a client as a U.S Person when signs are there is a big problem for them. Anyway hope this is NOT the problem you run into HKTT and good luck.
Once again you no not what you speak of accept to sell your own services. You have an axe and every forum member should be aware of it.
Having a USA ITIN (individual) or EIN (entity) in no way obliges one to report anything for an offshore company. Now, of course the bank WILL report any interest income to the IRS (though automatic withholding of 30% usually means no filing is even necessary to pay tax on interest) and IRS will have full access to the movements within the account but that is it. Nothing strange here and no different than any major bank in a G7 country.
It is possible to open a USA account for an offshore company...I just opened TWO for a BVI entity on recent trip with top 4 USA bank and large regional money center bank (no..I won't list banks but one is JPM, Citi, BofA or Wells!). I did not have millions to deposit either. What I did have was everything in order: ITIN, EIN, all corporate docs etc.
Last bit of magic is a local registration of your offshore company in a US state (google this). This puts a "local" government stamp of approval on your company and the banks LOVE this. No annual filing in state either. You get a USA registered agent and you must list an officer for the company (could be nominee director but this will complicate opening and require nominee to most likely be present for account opening). As sole owner and only Director, I had no problems.
As to privacy, USA bank reveals nothing that wouldn't already be out in the open since only the banks know about your state registration that will list your name if you are only owner/director. Nobody outside USA will know about your state registration unless they look very hard.
When banks asked why I wanted a USA account I told the truth: I want to bank in best, most efficient and best customer service banking system in the world and most of my customers also bank with USA banks. Only other questions were related to what my company did...nothing all that interesting.
Now if you have odd wires from odd banks, I would expect many questions and possible closure if the bank does not like what it sees...same as ANY big global bank. I do not and thus am enjoying my TWO USA bank accounts.
So when you read "it is impossible" being posted by someone who is selling something, be skeptical. Common sense, a bit of research, personal visit and honesty still work.
Now take this free advice and go visit USA and get your corporate account!
. I personally would avoid banking in the U.S like the plague.
