US corporate bank account opening
Opening a company bank account in the United States became almost impossible for foreigners since introduction of the "Patriot Act". However, the good news is: It still can be done.
US company bank account opening services*
| If your Delaware company has all prerequisites (Company in good standing, US tax number, US business address) we can assist to open a corporate bank account in Delaware.
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Your corporate bank account will be opened with one of the largest banks in the United States. Online banking, check book and VISA card is included. Only you or your named signatories will have access to the bank account - we won't provide "nominee banking" as other providers might do.
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| To open an account for your Delaware company we require certified copies of the company documents and 2 pieces of ID for all bank account signatories. A copy of your passport and driving licence is usually enough. We do not need certified company documents if you formed your Delaware company through us.
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Additional prerequisites to open US bank accounts
| A US tax number for the company is required if none of the company directors (Corporation) or members (LLC) are US citizens or resident in the United States. Certain Corporation - Foreign shareholder/director szenarios might require 2 or more tax numbers. |
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| Either the applicant shows up in person at the bank (trip to the United States required) or a representative/company officer based in Delaware opens the bank account on behalf of the company.
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| Last not least a business address in the United States for receiving statements, cards and online banking codes is required. |
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| There might be some exemption from these rules for corporate banking clients who already have a bank account with certain banks. However, these exemptions would only apply to large or stock exchange listed companies. |
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Why to open a bank account in the US?
A Delaware registered company is not obliged to maintain its bank accounts in the State of Delaware or the USA. In fact the company can open bank accounts anywhere worldwide. However, international clients who form a Delaware company with the intention to do business in the United States will at some stage require a local company bank account in the United States.
Reasons for opening US company bank accounts
| A US corporate bank account simplifies payments for US and Canadian customers. Usually US-based clients prefer to pay to a local bank account rather than by international wire transfer. If your company needs to compete in very competitive markets favourable payments terms often make the difference between a client placing an order or going somewhere else.
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| The US company bank account is essential if you regularily receive checks from US clients (e.g. Webmaster business). Cashing US checks via American banks cost almost nothing and it takes only days while international banks charge high processing fees and take 1-4 weeks to clear these checks.
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| Another important reason to open the company bank account in the United States could be access to US card processing facilities, which are not available to international clients. |
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US bank account opening - it was that simple
The general procedure to open a corporate bank account in the United States remained unchanged since the 60's: US banks ask for proof confirming that the company exists and that it is in good standing.
Next step is to identify the signatories, in case of a non-US resident person a passport copy and a driving licence copy was enough.
It was that simple - until 2001
Immediately after 9/11 the "Partiots Act" - introduced to allow better control of who runs a bank account in the US - made it almost impossible for non-US residents to open corporate bank accounts without showing up in person at the bank - a truly very inflexible regulation.
Non-US bank account opening*
If you have no intention to do business in the United States and wish to
open an international bank account for a Delaware company contact one of our European offices. They will be pleased to assist, provided none of the company officers or shareholders are US citizens or permanently resident in the United States.
*Residents / Nationals of Afghanistan, Albania, Belarus, Bosnia and Herzegovina, Cuba, Colombia, Congo-Brazzaville, Iraq, Ivory Coast, Lebanon, Liberia, Myanmar, Nigeria, Rwanda, Sierra Leone, Somalia, Sudan, Uzbekistan and Zimbabwe cannot use our bank account opening services. Enquiries from these countries will not be responded to.
