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Ask HN: How to open a business bank account in US as an non-US person?
I have been looking to incorporate a US corporation for a SAAS product. Now I understand the procedure to start a corporation. But it seems that banks wont let me open a bank account if I am not present physically in US. Is there a workaround ?
Also an agent that I talked about registering in US, told me that I can open a bank account by sending the required documents to any friend in US and let them submit the documents. Will that work ?
- marvel_boy 11y agoYou need to be 18 or older and a legal U.S. resident to open a checking account at U.S. Bank. You’ll also need: A Social Security Number A driver’s license or state/military ID
- blindfly 11y agoUnfortunately I must disagree with your comment as someone who has US accounts but isn't in (and didn't visit) the US to arrange them.
- foldr 11y agoIt's totally false that you need an SSN to open a US bank account. An SSN is only issued to someone who is working, and there are plenty of non-working people residing legally in the US who are entitled to (and who in practice can) open bank accounts (e.g. foreign students). Also, a passport is fine as ID.
- blindfly 11y agoWhere are you located?
- codegeek 11y agoRead this blog post from the founder of Freshdesk : http://blog.freshdesk.com/how-to-incorporate-a-us-corporation-from-outs/ http://blog.freshdesk.com/how-to-incorporate-a-us-corporatio...
- ilolu 11y agoI talked to SVB customer care. They said that they will allow only venture backed startups.
- johnsocs 11y agoOne possible solution is to have a business partner in the US manage this part of the business. I'd be interested in learning more about what you are doing.
- thekonqueror 11y agoTry Payoneer[1], it works with Stripe. [1] https://www.payoneer.com/en/products/global-payment-service/ https://www.payoneer.com/en/products/global-payment-service/
- tejasm 11y agoHere's how I would do it: 1. Register a Delaware Inc or LLC with Harvard Business Services - https://www.delawareinc.com/ https://www.delawareinc.com/. They can also act as your registered agent for $50/year. 2. Get an EIN number - you can call IRS directly at their Philly Office - 267-941-1099 3. Once you have an EIN, open a small business account with BoA - https://www.bankofamerica.com/smallbusiness/ https://www.bankofamerica.com/smallbusiness/ 4. Setup your postal office at www.virtualpostmail.com or https://travelingmailbox.com/ https://travelingmailbox.com/ If you have any questions, do drop me a note at tejas3 at gmail dot com. All the best!
- ilolu 11y agoThanks. I looked at smallbusiness link of BoA. They seem to not accept non-resident aliens when applying for Bank Account. Do I have to visit US ?.
- sandGorgon 11y agoinstead of BoA - consider First Republic. They are very friendly to startups and have a great online system. Also remember that getting an EIN and an ITIN (a replacement for social security number for foreign residents) is a bit involved. The most important tip - get something called a "True Copy" of your passport done withing a US Embassy in your country (e.g. http://mumbai.usconsulate.gov/notary-services.html http://mumbai.usconsulate.gov/notary-services.html). NOT AN ATTESTATION. That is going to be the most important piece.