How to Set Up a LLC in USA for Non-Residents + US Bank Account (all sources shared)

mmubeen8 said:
Hello,

I created the LLC by using the OP's method. LLC formed within a day but I didn't get the EIN.

I have to buy from there for $175 for foreign residents or I can apply for EIN by myself through the IRS official website.

And I have some questions. how do I know what's the ITIN of my LLC?

And for creating the stripe business account, do I need EIN and ITIN both?
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ITIN is not necessary for LLC
and for opening stripe only EIN is necessary with your company details and documents.
 
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aristocratic said:
I wish you all had a great weekend.

I have seen many people in BHW asking questions about LLCs in the USA. I have been one of them in the past too.

The thing is that nobody shares their own sources publicly. Back at the time, I asked a member here on BHW (can't recall his name now) and he suggested me a service.
Guess what?! That service was a fcuking reseller and I ended up paying $500 to set up an LLC in Wyoming.



I'm not gonna share the RESELLER company, no worries lol. I'll share the main source.

The company I have used is Wyoming LLC attorney (.) com. You can set up your LLC in the US for $199.
After 1-year I paid $159 for Renew Agent Service & We File Annual Report With Our Name (Anonymous).

After setting up the company obviously you want to open a US bank account. I created a simple website for my company and applied for a bank account with Mercurey but I didn't have success. A friend of mine was accepted. So I would suggest you try Mercury first and if that doesn't work you can continue with Relayfi (.) com. They accepted my application and now I have a US bank account. I also received a Debit Business Card which Relayfi mailed to my business address (in this case Wyoming LLC attorney).
Then I used the MAIL FORWARDING service from the Wyoming LLC attorney (costs $65) and received the CARD.

If you don't need the physical Debit Card you can use the Virtual one. You can also create Virtual Debit cards for your registered employees. :)


With this LLC I also created an account Stripe account which is working like a charm.


NOTE

- I still haven't used the Relayfi yet as i don't really need the bank account. So I can't tell you my experience with them. (fees, maintenance, etc)
- I also didn't do any transactions with the company so I can't tell you anything about taxes etc.


TL: DR

Set up an LLC in Wyoming US with Wyoming LLC attorney (.) com
Open a US bank account with Relayfi (.) com


That's all, $200 and you have your LLC set up in the US.


Have a nice week ahead

PS. I'm not affiliated with any of those companies. Just my own experience.
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Agreed on going via Wyoming is ok, but the alternative preferable option would be on Deleware-based registrations also works for every non-resident US people who they trying to register their LLC and to open up the bank account in a hazzle free way. Also, the most people's choice is on Deleware only.
 
does this need an kyc? or an verification?
 
aristocratic said:
It was lockdown time and I remember I waited over 40 days.

Mercury is not a requirement but is a well-known bank for startups. They rejected my application and I opened with the other bank mentioned in the initial post.

Regarding the transfer, I am not sure as I don't have experience with Payoneer. But I believe it can be done.





Over 2 months for me. Maybe because it was lockdown time. things might have changed now.
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Thanks
 
Johnpeterburs said:
Agreed on going via Wyoming is ok, but the alternative preferable option would be on Deleware-based registrations also works for every non-resident US people who they trying to register their LLC and to open up the bank account in a hazzle free way. Also, the most people's choice is on Deleware only.
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Unless you are a fortune 500 and foreseeing a guaranteed and complex ligation environment for your legal department in the near future then there is no practical advantage to Delaware over Wyoming.

As a matter of fact for most smaller organizations and Wyoming is a far more practical and cost effective choice then Delaware. Offers even more anonymity, a thicker corporate veil and digital activities are not considered Nexus no matter where the data/service was accessed. Delaware has similar rules but one key difference that can lead to headaches in terms of license fees and gross receipt taxes for in state digital sales and services.

Opening a bank account for a LLC/INC is the same process no matter what state you incorporate in. The only difference is going to be if you have a rep, physical location, lawyer, accounting firm or PRO firm working with you that can facilitate bank account opening in person. If that`s the case and banking is your main concern then you`ll probably want to form in New York as 19 of the 100 largest banks in the US are headquartered in New York State. Not a single top 100 bank is headquartered in Delaware. If traveling to the US or paying an authorized rep to facilitate in person account opening for you is not possible then the process and documentation needed will be the same no matter if you incorporate in Delaware or Hawaii.

If you are placing that much emphasis on the litigation environment in Delaware then forming an LLC as opposed to an S-Corp is already a mistake. An S-corp is going to give you far more legal protections when it comes to liability then an LLC and both Wyooming and Delaware allow for the opening of one person single shareholder S and C corps.
 
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aristocratic said:
How do you think you can open an LLC without ID?!
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You don`t need ID to open an LLC or Inc in most states. As a matter of fact most states don`t even need your name if you are filing through a PRO, lawyer or CPA. On the filing form for just about every state in the country the only information they ask for is the name of the incorporator. The incorporator and the owner don`t have to be one in the same. If this is an issue you should opt to open a S-corp as opposed to a single member LLC. Most of you should be opting for S-corps for your first companies as opposed to LLC`s anyway... But that`s another topic for another day.
 
Out of topic. Since you will be having a US registered company. Would it be able to grant entry or working visa?
 
I paid like 170 USD to create my LLC, it's registered in Delaware, and the service I used offers a sweet VoIP free trial for 60 days But don't have a mail forwarding service, anytimemailbox is awesome.
Will try signing up for a bank account, I was under the impression I need to have an EIN to do that. thanks
 
Xceed said:
Same question. I heard stripe detects your location as non US and shuts you down. Some other guide I read recommended using a proxy while accessing your stripe account.
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Not just stripe, a whole lot of the services that cater to b2b have really strict terms and will monitor your IP, they may even ask you for a photo ID if your billing address is different than your company address. but it's easy to resolve though most of the reason they have this is to avoid fraud. calling them helps
 
BlindRhino said:
Not just stripe, a whole lot of the services that cater to b2b have really strict terms and will monitor your IP, they may even ask you for a photo ID if your billing address is different than your company address. but it's easy to resolve though most of the reason they have this is to avoid fraud. calling them helps
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I use a different laptop only for Stirpe, PP, GMB, Wise and anything related to my business. that laptop has US residential IP and vpn.

Some other member here claim that its not a must but i just want to be sure.
 
aristocratic said:
I use a different laptop only for Stirpe, PP, GMB, Wise and anything related to my business. that laptop has US residential IP and vpn.

Some other member here claim that its not a must but i just want to be sure.
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Are you using IP Burger residential proxies?
 
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