1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Company in one state - bank account in another state ( USA ), possible ?

Discussion in 'Business & Tax Advice' started by dar1x, Jan 28, 2014.

  1. dar1x

    dar1x Registered Member

    Joined:
    Jul 13, 2013
    Messages:
    90
    Likes Received:
    57
    Hello guys,

    I have decided to finally open my company in US as well, i will go for Delaware state for opening my company due to taxes, now, as you all know, it is possible to open company online by using various company opening services, however, you can't get a bank account in US as a foreigner if you do not visit US and apply in bank branch by yourself, so i will need to visit US to get the bank account. Since i will already spent 12-13 hours in airplane in one way i would like to visit New York, as i have a huge wish to visit that city besides business purposes, so i would like to open bank account in NY state. Is there any issues with that ? If I, as a European, with company registered in Delaware USA request a business bank account in New York for my company in Delaware ?
    Also, what kind of a documents do i need to get approved for a bank account in NY ? I supposed that i need my passport from my country of origin and company registration papers from Delaware, but do i need something else besides that ? Is TAX ID ( EIN ) necessary for opening an account ?

    So if anyone have some advices i would be really thankful :)


    Cheers.
     
  2. rhyeal

    rhyeal Newbie

    Joined:
    Oct 4, 2013
    Messages:
    22
    Likes Received:
    9
    Occupation:
    I make more money for people with money
    Location:
    Western Hemisphere
    Call the bank before coming to open an account. Confirm with their branch (don't call customer service!) and get the name of the person that says it can be done. Then schedule a meeting with him/her when you are in NYC.

    Banks to look at in NYC: Bank of America, Wells Fargo, JPMorgan Chase, Citibank, US Bank, Bank of New York Mellon. Those are all very large banks (top 10 in the US) and they should be able to help an international more easily than smaller banks.
     
  3. pinpointintel

    pinpointintel Newbie

    Joined:
    Jan 6, 2014
    Messages:
    19
    Likes Received:
    0
    Yes, you will need an EIN.
     
  4. Alpha.

    Alpha. Power Member

    Joined:
    May 11, 2013
    Messages:
    505
    Likes Received:
    236
    Location:
    Europe... No Borders? No Worries!
    Just open your company in Delaware, and the Bank account in Nevada.
     
  5. greatfargo

    greatfargo Newbie

    Joined:
    Jan 15, 2014
    Messages:
    7
    Likes Received:
    0
    You will need a proof of company address and your home address at least.
     
  6. Andrism

    Andrism Newbie

    Joined:
    Feb 4, 2014
    Messages:
    1
    Likes Received:
    0
    Occupation:
    Entrepreneur
    Location:
    US, Philippines, Thailand
    As it's my first post here, I'll be happy to help fellow member with advise on this subject.
    First, avoid Delaware. There is nothing "advantageous" there left. They will torment you with constant fees and payment requests for state licenses, registrations, registered agent fee, etc. It's too expensive and not worth it. Even Nevada is no longer a "good" state for company registration. My suggestions are New Mexico and Wyoming. NM has full privacy and do not make list of directors available online, like almost all other states. In addition, they only charge you initial registration fee and nothing annually. Wyoming is also good, but I don't have experience with it.
    Bank I definitely recommend is Citibank, simply because they have branches all over the world. Go to your local Citibank branch and open personal account so they have a record on you. With account papers, show up at any US Citibank branch and be already their customer. This goes a long way as you will be verified by your local Citibank branch already.
    Now, the question remains if Citibank will open business checking account for out-of-state LLC, as neither NM or WY have Citibank branches. Call them ahead to find out. IF they say they won't open such account for out of state LLC, then the only option is to register LLC in Florida and go to friendly Miami branch which the only branch who opens accounts for non-residents. Florida is a good state to register LLC, as state has no income tax.
    Do your research.
    If you need a name of a banker in Miami who opens accounts for non-residents, let me know and I will try to find it for you.
    If Citibank won't open account for out-of-state biz, then don't even waste time going to NY branches, as the last thing you want to do is incorporate in NY state.
    Best,
     
  7. noseo

    noseo Regular Member

    Joined:
    Aug 14, 2013
    Messages:
    258
    Likes Received:
    122
    You need to register your business in every state where you have a "business presence."

    Very simply, if your employees or business addresses are in a state, you've got a presence there.

    Having an account with a bank that is in another state doesn't give you a business presence in that state.

    You're fine. Don't worry about it. (But don't take my word for it... verify for yourself or with counsel...)
     
  8. punkstar69

    punkstar69 Junior Member

    Joined:
    May 4, 2010
    Messages:
    176
    Likes Received:
    73
    Gender:
    Male
    Occupation:
    IM
    Location:
    EU
    Any sucessful stories on opening a us bank account in the same or another state than DE, for non us citizens?