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Openning LLC & Bank Account & Paypal in USA for non-us residents ???

Discussion in 'Business & Tax Advice' started by deki33, Apr 24, 2016.

  1. deki33

    deki33 Jr. VIP Jr. VIP Premium Member

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    Is there anybody here who has managed to open LLC in USA and to open Paypal business account in USA?
    What is procedure for that? I know I can open LLC remotely, but for bank account I guess I would need to travel to USA and be physically in bank.
    But I don't know how can I open PayPal account in USA that is connected to that LLC and its bank account.
    Usually Paypal asks for residential documents that proves that person is living in USA.


    Does anybody knows anything about this?
     
  2. Natisk

    Natisk Junior Member

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    We open LLC in USA, but if you want in your name need to travel to USA and be physically in bank.
    For open legaly US business paypal you need EIN (Tax ID) because paypal asking provide business documents
    1. Articles of Organization
    2. ID
    3. EIN document

    Hope i help you with your question.
     
  3. deki33

    deki33 Jr. VIP Jr. VIP Premium Member

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    So, what ID did you use? If you are not from US you ID is not from US and does not match company address in US.
     
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  4. M4XW3LL

    M4XW3LL Jr. VIP Jr. VIP

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  5. punkstar69

    punkstar69 Junior Member

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    Seems promising and low-fee based, but they do not open a business bank account. Business bank account is the most important thing when incorporating a new business for trading reasons and I think that its critical for the OP.
     
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  6. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    Deki - have a look here and see if Stripe has something that can at least get part of what you need accomplished.

    https://stripe.com/atlas
     
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  7. deki33

    deki33 Jr. VIP Jr. VIP Premium Member

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    It does not work in my country. It works only in countries that are supported by Stipe.
     
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  8. punkstar69

    punkstar69 Junior Member

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    Btw guys, I managed to have Stripe Atlas incorporate an INC for me, even if I dont live in the US.
    The main problem is that they use silicon valley bank and they dont provide an IBAN for the business bank account that they open up for you.
    They also register your company for an EIN.

    Since i deal with people outside US too, i will need a business bank acount with an IBAN number (pref with also an online banking and a debit card that works wordwide).
    Has someone any experience with this?
     
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  9. mirrorer

    mirrorer Jr. VIP Jr. VIP

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    That's not the case with PP.
    You can open PP even if your company is in another country. Just give them what they ask and you're fine.
    I know because I have 2 pp,1 personal and 1 under company (still in the verify process) name which is in a different country

    Edit: When you verify your personal details,you should send them an email to update it for you because they will allow you to upload deatils only from the country where the company is.
    I am in this process now....if you are interested,send me a pm in few days and I will let you know how is going.
     
  10. Natisk

    Natisk Junior Member

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    We can show any proof what you need.
    We can provide US business address in Florida
    https://www.delawareinc.com first check how much u pay only for documents :))
    but you need then open bank and get temporary debit card, after this debit card with your name.
     
  11. punkstar69

    punkstar69 Junior Member

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    I dont really need an Inc, i've already have one. I want a business bank account for my inc, with a debit card on its name, mailed straight to my overseas address.

    Also, the best proof would be to answer to questions reasonably instead of claiming 'we can proof it'

    OP asked this but you never answered:
    So, what ID did you use? If you are not from US you ID is not from US and does not match company address in US.
     
  12. Natisk

    Natisk Junior Member

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    PM or skype and we speak.
     
  13. BlogPro

    BlogPro Jr. VIP Jr. VIP

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    I got approved at Stripe Atlas too.

    Please tell me more as to how you went about with the registration.

    What business did you show? What documents did you submit?
     
  14. punkstar69

    punkstar69 Junior Member

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    Speak here. There is nothing be to afraid of, in case of limpidity.


    You might have received a link that leads to a submission form. Just fill it in with your idea's info. They will decide if your poject needs an incorporation. Im not sure about the criteria. They got my first idea aprooved but my second one was denied. You will get an SVB bank account in the USA (no IBAN, but routing number) - no card products, but a web bank access, an fully incorporated INC and an EIN. Whats not included in the incorporation process, is issuing shares, which is completely optional and cannot be done by them.
     
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  15. BlogPro

    BlogPro Jr. VIP Jr. VIP

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    Thanks for the info. Yes I did receive an email with the link.

    I am building a few webapps, however they won't be done for another two months. Not even an MVP. Is sharing an idea, enough? I could prepare a plan detailing my work or something, if that's what's needed.

    Another question, what identification documents were requested from your side?

    And finally, how's the taxation. I've read it's at 35%, which is kinda crazy.

    @OP, sorry for derailing your thread.
     
  16. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    So you have to pay tax in the US i.e. 35% if you go with a Stripe / Delaware solution and then you have to pay tax again in your local country if I understand it right or how does this work?
     
  17. punkstar69

    punkstar69 Junior Member

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    I dont believe that you have to pay 35% tax. You'd better have an accountant verify this, but Delaware state tax for operations out of it (IM is one), is zero.
     
  18. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    I know that Delaware corps usually pay 0% in tax but it seems that this Stripe constalation is different and that you have to pay tax i.e. 35% there so if that is true you will have to pay tax also in your local country unless there is a double tax treaty in place which I doubt there is but don't know of course.
     
  19. punkstar69

    punkstar69 Junior Member

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    I actually wanted this for the bank account. Its about a month that its fully incorporated, so cant tell for sure. At the moment, nothing has been paid from my side and nothing is requested to be.
    Since its an S-corp, it might be liable to 35% tax, however an accountant will be easily offer a setup to you in order to avoid high taxes etc. Further fees may apply in this scenario (i.e forming a subsidiary company etc).
     
  20. accofranco

    accofranco Junior Member

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    Interesting discussion going on here