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

[Vlad2012]

You would never have an account in your name.. That wouldn't be a business account. It would be a personal account. There's no point having an LLC if your bank account is in your name.

But even with an account in the name of the LLC, banks will still notify the country of the account holder. They don't for C corporation bank accounts, because it's not a pass through entity. It's an actual taxable US entity.

Yes the Wise account must be a professional account in the name of the LLC if I'm not mistaken !

 

[Vlad2012]

Thanks - bookmarking. Is Wyoming the only state you'd suggest to look into for creating the LLC, or any others on shortlist that are beneficial?

New Mexico and Delaware seem to get the job done too !

 

[Vlad2012]

Due to the Corporate Transparency Act (CTA), most U.S. startups are now required to submit a Beneficial Ownership Information Report (BOIR) to FinCEN, a government agency that combats financial crimes. This mandate, effective from January 2024, ensures that ownership details are reported to enhance transparency and prevent illegal financial activities.



The consequences of missing these filing deadlines are significant, which is why we have simplified the compliance process. As your deadline nears, we will alert you with reminder emails and in-app notifications. Additionally, should there be any changes to your startup's details, such as its name, address, or beneficial owners, we will prompt you to submit an updated report. It should also be mentioned that a recent legal ruling in Alabama declared the Corporate Transparency Act unconstitutional. However, this decision is relevant only to the plaintiffs involved in that case and does not impact the majority of startups.

 

[tacitinc]

annnnd for OPs next trick? showing you how to get on the radar of every tax bureau in the USA at one time & get flagged for repeated audits...

i agree this is the toyota carolla version of the barebones required to do this... but if you wanna know a couple of extra steps to layer company structure & appear more normal in the eyes of the IRS... holla at me lol

this is childsplay, folly - one look into details if your under the wrong scrutiny and this structure folds & your out without any protection, hell ill show ya how to get FDIC backed & still have a kill switch / exit strategy if need be

cheers you beautiful bastards, just be careful with this stuff, just because it looks easy doesnt mean it really is

 

[ygg]

annnnd for OPs next trick? showing you how to get on the radar of every tax bureau in the USA at one time & get flagged for repeated audits...

i agree this is the toyota carolla version of the barebones required to do this... but if you wanna know a couple of extra steps to layer company structure & appear more normal in the eyes of the IRS... holla at me lol

this is childsplay, folly - one look into details if your under the wrong scrutiny and this structure folds & your out without any protection, hell ill show ya how to get FDIC backed & still have a kill switch / exit strategy if need be

cheers you beautiful bastards, just be careful with this stuff, just because it looks easy doesnt mean it really is

Care to elaborate, please?

 

[tacitinc]

2 words; Mossak Fonseca

 

[ZeroEyes]

w

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.

Dont forget to fill out forms 5472 and 1120


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.

weren't u asked for ITIN for bank account opening?

 

[ZeroEyes]

i tried opening bank account on relayfi and mercury however both asked me for Companys ITIN
which cost additional 300$ something and has to be filed by some one usually an accountant to get the ITIN number

 

[mojovski]

i tried opening bank account on relayfi and mercury however both asked me for Companys ITIN
which cost additional 300$ something and has to be filed by some one usually an accountant to get the ITIN number

Even worse. There is a new us policy that requires to have a physical address (residence) in us to open a bank account.
Relay is definitely affected.
Wise still works

annnnd for OPs next trick? showing you how to get on the radar of every tax bureau in the USA at one time & get flagged for repeated audits...

i agree this is the toyota carolla version of the barebones required to do this... but if you wanna know a couple of extra steps to layer company structure & appear more normal in the eyes of the IRS... holla at me lol

this is childsplay, folly - one look into details if your under the wrong scrutiny and this structure folds & your out without any protection, hell ill show ya how to get FDIC backed & still have a kill switch / exit strategy if need be

cheers you beautiful bastards, just be careful with this stuff, just because it looks easy doesnt mean it really is

Yeah, please enlighten the risks involved.

 

[ZeroEyes]

Even worse. There is a new us policy that requires to have a physical address (residence) in us to open a bank account.
Relay is definitely affected.
Wise still works

i know someone who got his account approved on capital one so a virtual address is Okay however ITIN is a must

 

[moonshine7000]

i know someone who got his account approved on capital one so a virtual address is Okay however ITIN is a must

How long does it take to get the ITIN

 

[ZeroEyes]

How long does it take to get the ITIN

usually 7-14 weeks for NON USA residents

however many people buy fake USA residents SSN and put in as their to get ITIN fast but i wouldn't recommend that

 

[Marco69]

I will start myself entrepreneur business with paypal or wise/ payoner bank account, clients can pay to that account. Later with the first clients I will start an UK Ltd (easier for me to handle in europe) or US Corp. with WISE online account or I must fly to USA.
I think many people knowing what an Ltd company is. Or it's legal to name the company Corp. Ltd. with that US people knowign what this is.

An LLC is too much risk for me as european , because in germany it's not an separate organ it's a Partnership company to many
liability risks and tax risks.

Happy Friday !

 

[Freeride7]

hi, is this still available as of today ? thanks a lot for the work you have put in it !

 

[aristocratic]

hi, is this still available as of today ? thanks a lot for the work you have put in it !

LLC formation and WISE business account is still doable. Bank accounts have become a bit harder to get

 

[Freeride7]

LLC formation and WISE business account is still doable. Bank accounts have become a bit harder to get

awesome thanks ill give it a read in details !

 

[Vlad2012]

Relayfi : Primarily requires an EIN and incorporation documents. Personal identification of the owners may be necessary.

Mercury : Requires an EIN, proof of identity for the owners (passport or other government ID), and sometimes a U.S. address.

Wise : Requests an EIN and personal identification. Wise is more flexible with international addresses, but proof of address may be requested.

 

[aristocratic]

Relayfi : Primarily requires an EIN and incorporation documents. Personal identification of the owners may be necessary.

Mercury : Requires an EIN, proof of identity for the owners (passport or other government ID), and sometimes a U.S. address.

Wise : Requests an EIN and personal identification. Wise is more flexible with international addresses, but proof of address may be requested.

Thanks for the updates mate!

Appreciated

 

[Vlad2012]

Firstbase just replied to me about setting up an LLC in Wyoming and they have two RA options for my needs - Agent Autopilot and Payroll.

Here is the cost breakdown:

• Agent Autopilot costs $299 per state, per year.
• Agent Payroll costs $599 per state, per year. However, it allows you to register for filing payroll taxes as well, which is not available with Autopilot.

With both plans, you get pre-filled Form 5472. Should filing payroll taxes be a necessity for your business, then Agent Payroll is the way to go.

• As for the nominee, and EIN, they are included with our Start package, for which there is a one-time fee of $399.
• To obtain an ITIN as an international founder, you must file Form W-7 with the IRS. Unfortunately, we do not provide this service.
• For your business address and mailing needs, we offer Firstbase Mailroom, which starts at $35/month.

 

[Vlad2012]

Even worse. There is a new us policy that requires to have a physical address (residence) in us to open a bank account.

To overcome this hurdle, you can purchase an address from Trulease. According to Trulease, their addresses are valid for official documents. This is a more reliable solution until the FinCEN provides further clarification on address requirements for non-U.S. residents.