Opening a US LLC and a US bank account as a non-resident seems challenging, right? Well, I am here to show you exactly how to do it without a social security card or flying to the US. There are many reasons why you might want a US bank account and LLC. Whether you want to hook it up to PayPal, operate a Shopify platform, sell on Amazon, or use another e-commerce platform for your business, having a US bank and LLC is paramount to your success. While tools like Payoneer and TransferWise are great, they are expensive and limit what you can do. This article will show you step-by-step how to open a US bank account and LLC correctly and for as little money as possible.
Opening A US LLC
The two best states to open an LLC in the US are Wyoming and Delaware. These two states have the lowest fees and best protection for business owners. To get started, I recommend using Wyoming Registered Agents. With Wyoming Registered Agents, you can get an LLC in five to fifteen minutes for just $149 upfront and $49 per year. When you register for your LLC, you also get a physical US address for your business in Wyoming, where mail can be sent and forwarded to you. You will need to enter your filing information (Business entity type, company name, select “member-managed,” add business owners, select “annual compliance nominee service” and opt for a Wyoming business address with mail forwarding for the extra $99 per year, input contact information, and payment information)
For Delaware, I recommend Delaware Business Incroporators, Inc. You might want to opt for a Delaware LLC instead of a Wyoming one because the Delaware Business Incorporators can assist you with obtaining a Delaware utility bill for Amazon seller verification. It’s easy to file and costs $140 plus any additional services you want to add, like virtual office and mail forwarding.
Once you’ve made an LLC, you will need to get an EIN. An EIN is a nine-digit business federal tax ID that works like a Social Security number for your business. You can typically pay the company that you registered as an LLC through to get an EIN for you. However, they charge fees, and it’s relatively simple to do it yourself. To get your business EIN as a non-resident, you will need to call the IRS at 267-941-1099 and fill out IRS Form SS-4, Application for Employer Identification Number (EIN). While this process does not typically take long, the pandemic has caused it to take 1 – 3 months in some cases.
Opening A US Bank Account
Once you have a US LLC and EIN, it’s time to open a bank account. The best way to open a bank account in the United States without paying for air travel is to use Mercury online banking. All you need to apply for a Mercury account is a US LLC with a federal business EIN and passport identification; no SSN required! Mercury offers checking accounts, savings accounts, debit cards, check payments, and wire transfers-all FDIC insured for added security. Additionally, there are NO fees, except for wire transfers. After your Mercury account is all set up, you can easily connect it to Amazon, Stripe, PayPal, Shopify, etc. Please note that some countries are not eligible for Mercury, so scope out their FAQ section to ensure your country is supported.
If you like free money, and let’s face it, who doesn’t? Use my link for a free $50 when you open your Mercury account and spend $2k on your debit card.
To open a Mercury account:
- Create account
- Complete application with essential information like legal company name, company type, industry, investors, address, phone numbers (get a US one through your LLC), company formation documents, EIN documents
- Fill out the next section with information about the business owners like percentage of ownership, address, phone number, citizenship status, passport, etc.
- Submit your application and wait for the approval
Please note here that sometimes Mercury will have additional questions or need extra verification for certain things. They simply need to check their bases to prevent money laundering and other illegal activities, so nothing to worry about here. They may ask you to verify who your suppliers are, what products you sell, provide Amazon links, photos, and more. Ensure that you answer their questions to the best of your ability to avoid any issues with getting an account.
As a non-US citizen selling products online, it can be confusing to figure out how to get a US LLC and bank account. Luckily, there are many services out there to help you without an SSN. With resources like Wyoming Registered Agents, Delaware Business Incorporators Inc., and Mercury, you can get the credentials you need with zero air travel.
Once you’ve completed all of the steps and the verification, you should be well on your way to running your US-based business like a pro! I hope this guide helps you navigate the process, avoid confusion, and save a whole lot of money.
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My YouTube channel is also here to keep you in the loop with the latest Amazon seller updates, so don’t forget to subscribe.
Free $50 When You Open Your Mercury Account: https://bit.ly/Free50Mercury
(When You Spend $2k on Debit Card)
Don’t Have a Seller Central Account Yet? Click here to watch my video tutorial: https://youtu.be/sfXyyJpTJpA
Watch this video to learn how to get a utility bill for seller registration (US or Non-Resident): https://youtu.be/jWAcZ4weemg
Read more about Amazon FBA – https://camronjames.com/resources/
