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

[Octobus]

No because an LLC is not a corporation. So there is no corporate income tax either. And this is the biggest advantage I think on why to establish a LLC in a tax heaven like Delaware or Wyoming. The legal structure of a LLC is unique and doesn’t exist anywhere else in the world.

From wikipedia:
A limited liability company (LLC) is the US-specific form of a private limited company It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. An LLC is not a corporation under state law; it is a legal form of a company that provides limited liability to its owners in many jurisdictions.

Source: https://en.m.wikipedia.org/wiki/Limited_liability_company

Trust me that it is not as you think as I've already explained in my previous replies.

Either the LLC's profit is taxed at corporate level in your home country or as your personal income. The LLC will be treated according to your home country's legislation as either a corporation or a pass-through entity. There is no way you can park the profits in the LLC and leave them untaxed. I would consult a tax professional in your case, if you currently have such corporate setup and think that you can simply avoid taxation by leaving the profits undistributed from the LLC.

Secondly, LLCs do exist elsewhere in the world but that is irrelevant. Your home country will treat it as they see fit, either as a corporation or pass-through entity equivalent to a partnership and tax the income at your personal level.

 

[issaXD]

nice share

 

[Orionace]

I'm replying here instead of editing above so aristocratic actually sees this.

There's absolutely NO need for this. This goes against all business principles.

If only people within a country were allowed to operate a business from that country then you wouldn't have any global companies.

Your LLC is completely legitimate in the eyes of the US government. That is all that matters. Why would stripe add some company policy that they only accept LLCs from US residents

They don't give a monkeys. I use the same stripe for ALL my companies. They know I have a UK passport and I login from Portugal and I have both a c corporation, multiple LLCs, multiple Ltd companies and even an account for my self employed status in the UK.

I never hid it. It's never been a problem.

Wise don't care other. I got asked for some extra documents the other day and I showed my US stripe in my c corporation's name and explained that this wise, moves money from the US c corp, to my UK self employed account when I pay myself dividends. This is of course fine? Why? Because it's all legitimate.

You do not have to worry about any of that stuff. If all your setups are real, and you have the right corporate documents, then you are fine.

You don't have to hide anything from anyone. You can do whatever you want in business. Have as many companies, as many bank accounts as you want, as long as all the correct documents are filed and they're all legitimate and tax is paid in the relevant countries you will never have a problem.




This is completely untrue.

An LLC doesn't pay "corporate taxes", even if it's owned by US citizens. It would have to opt to be taxed as a corporation for that to happen.

It's a limited liability pass-through entity. You would pay tax like a normal self employed person in the US if you lived there.

If you live in Spain, and you use an LLC directly, then it's the same as just earning money in Spain as a self employed person, and you need to pay taxes in Spain.

This is exactly why you NEVER own an LLC directly. It's a bad idea. LLC beneficial ownership is more transparent. Someone mentioned "privacy", which only holds if you have an LLC without a bank account, which is pretty useless.

As soon as you open a US account, your info is going to be shared with your home country.

I believe c corporation bank accounts are a bit different, but you have to pay your 21% tax in the US with one, so you aren't actually avoiding tax and you DO NOT own the account or the money with a c corp. The company does, and the company is a US entity, paying tax in the US, until such times as you take a dividend to your personal account.

But with an LLC this isn't the case, so the banks tend to share more information with your home country. Depends on the bank, but you never know. You can just assume that your home country will very likely discover you own a US bank account and will ask you about it. They won't know about the LLC, but they'll know you have an undeclared foreign bank account, which is enough to trigger an investigation.

damn this is all so confusing. hey let's say you are from africa like in my case and you want to own a digital marketing company(or sell to your services to us or Eu based citizens) what would be the best hassle free way you would chose

 

[splishsplash]

damn this is all so confusing. hey let's say you are from africa like in my case and you want to own a digital marketing company(or sell to your services to us or Eu based citizens) what would be the best hassle free way you would chose

Guys.. And Orionace directly..

First things first. Are you guys making $10k/mo+ ?

If not, then you do not need any of this stuff in 99% of cases.

What's the biggest problems in your business?

Is the problem that you are earning too much money and your tax bill is too high so you need a better corporate structure?

Or, is the problem you need to make money.

So in your situation, Orionace.

How many clients do you have? How much money are you making per month? What the biggest thing stopping you scaling right now?

Will an LLC actually solve any of your problems?

No.

Now, you say you "want" to own a digital marketing company. So I assume you aren't actively making money.

You also say "sell services to customers", so I assume you're going to sell something to people, and not do affiliate marketing where you'll get paid from companies.

That means your first problem is going to be :-

"How do I get paid from my first client?"

You're in Africa, so you can take payments with paypal.

Problem solved. You probably already have a paypal account. If not, get one.

Problem 2:-

"How do I get my first client?"

And you take it from there.

Now, when you're making, let's say even $5k per month. You've got some cash rolling in. I guarantee you won't be coming here for advice if you're making even $5k/mo.

I wouldn't dream of asking for tax/accounting/corporate structure advice on blackhatworld.

Why?

Because I can just literally do this :-

Google "tax cpa usa for foreigners"

Let's see what we've got.

https://www.ustaxhelp.com/
This guy looks good to me. "Theodore Kleinman CPA".

https://www.ustaxhelp.com/about/
https://www.linkedin.com/in/theodore-kleinman-cpa-9a922628/
404 connections.. Was a cfo for pacific coast environmental inc from 1989 to 2005

Financial analyst for armaco 1979 to 1983.




Seems to be him..

https://www.ustaxhelp.com/get-in-touch/
"Address: 195 Scenic Ridge Ct, Redmond, Oregon 97756-7417"

So, 5 mins of due diligence. Looks legit to me.

Next..


https://www.ustaxhelp.com/fee-structure/

"Tax consulting"

He charges $475 per hour.

That is PEANUTS.

If you're making $5k/mo, you're going to pay $475 for an hour's chat with him.

You can email him first and say "Hey, I'm such and such, this is what I want to do and find out about. Is this something you can help with? If so, please send me the invoice for a 1 hour consultation call."

He only accepts payment from a US account. You can always pay via wise, or find someone else.

There are MANY qualified CPAs out there who can help. This is just someone I saw with a 30 second google.

Now, do you think at the end of the call you'd still be confused? Would you need clarification from unqualified random people on a marketing forum?

Or would you have someone who can not only set it all up, but give you the advice you need to choose the correct setup.

Just go and find a CPA. Ask them everything you need. I don't use any cheap LLC setup sites because they don't give you legit advice. They just want your money and they'll setup whatever you ask for. Your problem. Get a REAL CPA.

Imagine when you're making $10k/mo..

You can literally just go and book a call with anyone you want and ask them whatever you want.

And $10k/mo is VERY small, but even at that level you can seek professional advice easily.

For getting started.. Just take paypal, wise payments. Just keep it simple. Focus on getting some clients or making money first.

I promise, once you're making real money, none of this stuff will be a mystery. I don't handle ANY of this stuff. I hire others to do it for me. I just know what I know from conversations with them.

 

[-Creationtc-]

very useful guide.
many thanks for this great share

 

[4ry4n]

Great share, may I ask what personal information Wyoming LLC attorney has from you?
I wonder if it is anonymous.

 

[MadVlad]

@aristocratic Great share!
So did you try to load that bank account to PayPal as a withdrawal account?

 

[profusioncompany]

Love this, it's really helpful for anyone making money online to have their own LLC setup...

thanks for taking the time to write this @aristocratic

 

[Orionace]

Guys.. And Orionace directly..

First things first. Are you guys making $10k/mo+ ?

If not, then you do not need any of this stuff in 99% of cases.

What's the biggest problems in your business?

Is the problem that you are earning too much money and your tax bill is too high so you need a better corporate structure?

Or, is the problem you need to make money.

So in your situation, Orionace.

How many clients do you have? How much money are you making per month? What the biggest thing stopping you scaling right now?

Will an LLC actually solve any of your problems?

No.

Now, you say you "want" to own a digital marketing company. So I assume you aren't actively making money.

You also say "sell services to customers", so I assume you're going to sell something to people, and not do affiliate marketing where you'll get paid from companies.

That means your first problem is going to be :-

"How do I get paid from my first client?"

You're in Africa, so you can take payments with paypal.

Problem solved. You probably already have a paypal account. If not, get one.

Problem 2:-

"How do I get my first client?"

And you take it from there.

Now, when you're making, let's say even $5k per month. You've got some cash rolling in. I guarantee you won't be coming here for advice if you're making even $5k/mo.

I wouldn't dream of asking for tax/accounting/corporate structure advice on blackhatworld.

Why?

Because I can just literally do this :-

Google "tax cpa usa for foreigners"

Let's see what we've got.

https://www.ustaxhelp.com/
This guy looks good to me. "Theodore Kleinman CPA".

https://www.ustaxhelp.com/about/
https://www.linkedin.com/in/theodore-kleinman-cpa-9a922628/
404 connections.. Was a cfo for pacific coast environmental inc from 1989 to 2005

Financial analyst for armaco 1979 to 1983.


View attachment 217298

Seems to be him..

https://www.ustaxhelp.com/get-in-touch/
"Address: 195 Scenic Ridge Ct, Redmond, Oregon 97756-7417"

So, 5 mins of due diligence. Looks legit to me.

Next..


https://www.ustaxhelp.com/fee-structure/

"Tax consulting"

He charges $475 per hour.

That is PEANUTS.

If you're making $5k/mo, you're going to pay $475 for an hour's chat with him.

You can email him first and say "Hey, I'm such and such, this is what I want to do and find out about. Is this something you can help with? If so, please send me the invoice for a 1 hour consultation call."

He only accepts payment from a US account. You can always pay via wise, or find someone else.

There are MANY qualified CPAs out there who can help. This is just someone I saw with a 30 second google.

Now, do you think at the end of the call you'd still be confused? Would you need clarification from unqualified random people on a marketing forum?

Or would you have someone who can not only set it all up, but give you the advice you need to choose the correct setup.

Just go and find a CPA. Ask them everything you need. I don't use any cheap LLC setup sites because they don't give you legit advice. They just want your money and they'll setup whatever you ask for. Your problem. Get a REAL CPA.

Imagine when you're making $10k/mo..

You can literally just go and book a call with anyone you want and ask them whatever you want.

And $10k/mo is VERY small, but even at that level you can seek professional advice easily.

For getting started.. Just take paypal, wise payments. Just keep it simple. Focus on getting some clients or making money first.

I promise, once you're making real money, none of this stuff will be a mystery. I don't handle ANY of this stuff. I hire others to do it for me. I just know what I know from conversations with them.

thanks alot man. i was thinking of creating and LLC cause of payment issues. for my case paypal can only be used to send money and can not receive due to some geo restrictions, after looking through the forum i found post related to stealth paypal accounts, but i don't wanna walk down that road cause it looke too risky.

 

[splishsplash]

thanks alot man. i was thinking of creating and LLC cause of payment issues. for my case paypal can only be used to send money and can not receive due to some geo restrictions, after looking through the forum i found post related to stealth paypal accounts, but i don't wanna walk down that road cause it looke too risky.

That is a problem.

What about wise.com?

 

[Enserio]

Getting the LLC, that's just the beginning, look into the all the tax reporting too and who can do it and what that costs annually versus income. Check with a US based accountant also before deciding, as you need to file annual US returns and I was advised recently there a law change for a 15% minimum tax (Kind of like the "Self employment tax ) if you are the operator/employee of the LLC. If you are digital nomad and a US Taxpayer and you have funds overseas, shares, etc. over $10K you need to file an FBAR annually (non compliance is 50% penalty of account value!) also with the 1040 all the corporation tax forms too. Disclaimer: I am not an accountant or lawyer and this is not legal advice just a word of caution.

 

[SM23]

Thanks for the info, i was needing this to create a LLC company in the USA.

 

[Orionace]

That is a problem.

What about wise.com?

am gonna to try that, thanks man

 

[aristocratic]

That is a problem.

What about wise.com?

Wise has been the best solution for me so far, especially for high-ticket products.
Amazing and recommended to everyone here

 

[Shana Walters]

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.

I will get this done as I have the funds.

 

[splishsplash]

am gonna to try that, thanks man

If you genuinely can't get a payment solution sorted then that really IS a genuine need for a company solution. However..

I'd advise you to go for a c corporation if you're in a country with issues like that.

The reason is it's much more legitimate because it's not just a pass through entity and you'll pay 21% tax in the US on your profits.

It is more expensive though. It can be a real chicken and egg problem for some.

A c corp will always be easy to get a bank account for. An LLC, less so.

But, wise.com, I think, works in almost any country. Even ones paypal doesn't allow.

Let us know if you manage to get your wise account setup.

 

[Hilux]

This is really a good read. I am definitely going to give it a try.


Thanks for this man.

 

[aristocratic]

Great share, may I ask what personal information Wyoming LLC attorney has from you?
I wonder if it is anonymous.

There are anonymous options but it will cost way more than $200

@aristocratic Great share!
So did you try to load that bank account to PayPal as a withdrawal account?

Not yet. Been busy af lately.

Love this, it's really helpful for anyone making money online to have their own LLC setup...

thanks for taking the time to write this @aristocratic

You are welcome

 

[profusioncompany]

There are anonymous options but it will cost way more than $200

You should edit this, in incfile (dot) com, you can register New Mexico LLC FOR $50 dollars only, of course you have to make the EIN and everything yourself, but maybe it's cheaper and helpful for everyone to know about this option. Just realized about this yesterday while looking for options to register my new LLC...

 

[gasquet]

Awesome share! Thank you for posting this!