3 ms·
Why wouldn't they? They'd probably just use the business tin as the taxable account owner and then their real foreign passport as the UBO for KYC. If they can't
by beaeglebeached 3y ago
Why wouldn't they? They'd probably just use the business tin as the taxable account owner and then their real foreign passport as the UBO for KYC. If they can't do that it would surely break the wheels of industry as foreign owned US businesses need US bank accounts.
IIRC banks need a ITIN or SSN + passport or ID of the UBO
- ceejayoz 3y agoDocumented immigrants will get a ITIN and/or EIN. Undocumented immigrants are far more likely to go the... undocumented route.
- petronio 3y agoUndocumented immigrants can get an ITIN, and many do. A lot of the time the ITIN will be used where it's allowed (opening bank accounts) and a counterfeit social security card where it's not (applying for employment).
- fooker 3y agoWouldn't that, by definition, turn them from undocumented to documented?
- petronio 3y agoI guess in a pedantic manner, but then they were always documented, since their country of origin knew who they are. In terms of immigration, undocumented typically means you don't currently have a valid visa or residency permit. In that case no, they would still be undocumented, since the ITIN doesn't grant them either.