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“I want to open a Delaware business bank account." I can’t tell you how often we hear this request from international clients.
Why? Many clients that form Delaware corporations also need U.S. business bank accounts in order to receive payments here in the U.S. Wherever the company is based, if the objective is to provide I.T. services or to become a vendor on Amazon or eBay, for example, non-U.S. clients selling to U.S. customers want to enable and facilitate that transaction.
Many of our non-U.S. clients will want to set up a payment gateway of some sort, like PayPal, while others may simply want to have a U.S. business checking account for their Delaware corporation.
Whatever the case may be, the opening of a U.S. bank account for non-U.S. clients is one of the most difficult steps in the entire incorporation process.
Unfortunately, we cannot assist in setting a up bank accounts for companies we form. However, we can prepare, file and provide you with the approved Certificate of Formation, electronically, in two to three days or less. We assist our non-U.S. clients with obtaining their federal EINs. We also provide you with free templates of LLC Operating Agreements.
We also provide a digital corporate seal for each company for which we serve as the Delaware Registered Agent.
Here are some of the commonly asked questions about opening a U.S. Bank Account from overseas.
Unfortunately, no two U.S. banks are exactly the same, and their specific policies and procedures for opening a business bank account for a Delaware corporation can be drastically different. There are, however, certain requirements that will be uniform for most banks. These are some of the things that will be needed to open the bank account for a Delaware company:
Additional documents that banks may ask for include:
Many banks require a Certificate of Good Standing when a company applies for a loan, a line of credit or wants to open a merchant account. A company may also be asked to present a Certificate of Good Standing before signing a large contract. Often, if the company is brand new or very recently formed, the Certificate of Good Standing is not required. It is best to confirm with the bank ahead of time.
You can order a Certificate of Good Standing online for your company.
While we can provide the proper documentation for opening the Delaware business bank account, unfortunately, a major hurdle for non-U.S. clients is appearing in person at the bank. When it comes to opening the business bank account, virtually all U.S. banks want to meet with their clients face-to-face. In our experience, every U.S. bank will typically want to meet with their potential clients in person.
Some of our international clients are able to travel to the U.S. just to open the business bank account, in which case, this is not an issue. In many cases, however, this may not be a feasible option. Often, clients reach out to a friend or family member that lives in the U.S., someone they trust, who is willing to help open the U.S. bank account for the Delaware company on their behalf.
Traditionally, business owners do their research on a multitude of U.S. banks to find the one they feel best suits their needs.
It’s a good idea for non-U.S. clients to call or email the bank they wish to do business with and get all the details on opening the bank account before they ever step foot in the branch. This is a good way to ensure everything will go smoothly when opening account, and to avoid any unnecssary headaches.
Additionally, if there is a U.S.-based bank with an international branch in your country, we encourage you to contact them and see if they are able to facilitate opening your U.S. account.
No. Delaware company owners often open a bank account wherever it is most convenient for them, generally the state in which they are doing business. It is common for Delaware companies to operate all over the world, and banks typically understand this reality.
This is where your Certificate of Authority becomes significant; it lets the bank know that even though the company was formed in Delaware, it is legally registered to operate in your home state as well.
While we cannot assist you with opening a U.S. bank account, we are here to help in any other way we can. If you have any questions about forming your Delaware LLC, please give us a call at 800-345-2677. Our friendly customer service representatives are ready to assist.
*Disclaimer*: Harvard Business Services, Inc. is neither a law firm nor an accounting firm and, even in cases where the author is an attorney, or a tax professional, nothing in this article constitutes legal or tax advice. This article provides general commentary on, and analysis of, the subject addressed. We strongly advise that you consult an attorney or tax professional to receive legal or tax guidance tailored to your specific circumstances. Any action taken or not taken based on this article is at your own risk. If an article cites or provides a link to third-party sources or websites, Harvard Business Services, Inc. is not responsible for and makes no representations regarding such source’s content or accuracy. Opinions expressed in this article do not necessarily reflect those of Harvard Business Services, Inc.
There are 25 comments left for Business Bank Accounts for Delaware CompaniesGeorge Henry said: Tuesday, July 18, 2017
Is one required to give their personal SSN when opening a Business bank Account?HBS Staff replied: Thursday, July 20, 2017
Every bank is different so that is a difficult question for us to answer. Check with your specific bank.Omar said: Thursday, July 6, 2017
Anyone can advise how can I open a bank account remotly without SSN If I cant visit USHBS Staff replied: Monday, July 10, 2017
For a U.S. business, you will need an EIN number in order to operate the business and open a business bank account.
Some business owners appoint a manager (LLC) or director (corporation) who already lives in the U.S. as an authorized person to open and manage the business bank account. Some business owners have had success by finding a branch of an American bank that is located near them, and asking that branch to facilitate opening an account.Sash said: Friday, June 30, 2017
If I register my corporation in Delaware, is it possible to open a bank account in California, even before our registration as foreign corporation in State of CA is processed ?HBS Staff replied: Thursday, July 6, 2017
This would be at the discretion of the bank. A lot of times the Foreign Qualification is needed, but it would depend on the bank's policy.
Arzou Man said: Sunday, June 11, 2017
Hi, I am non-resident alien and I want two simple things: 1 have a bank account in the US 2 not pay any state taxes or at least not pay anything more I can pay in Delaware. I understand that I have to apply for TIN and do some paperwork in order to pay federal income tax + state income tax instead of flat 30% withholding tax. Now the question. Where I can get a Delaware address with which I can apply for EIN as well as for the bank account? I know that the general requirement is that address should be the physical one but I also know that most people put some friends or other addresses. So I assume there should be an organization that can help me with the address issue... ThanksHBS Staff replied: Tuesday, June 13, 2017
If a company subscribes to our Mail Forwarding service, it authorizes you to use our address for your mailing address only, so you can put our address on lines 4a & 4b on the SS-4 application. You would still be required to provide the principal business location. We don’t guarantee the bank will accept our address to open a bank account; that is something you will have to check with your potential bank. As far as tax implications, you should review everything with an accountant.
If we can be of further assistance and/or you'd like to subscribe to our Mail Forwading service, please call 1-800-345-2677.Adeel Khusro said: Wednesday, June 7, 2017
How can i open a bank account if my company is registered in delaware as LLC and i reside in India?HBS Staff replied: Thursday, June 8, 2017
Each U.S. bank has different requirements for opening a business bank account. Unfortunately for our international clients, one of the most common and inflexible requirements for opening a business bank account in the United States is showing up in person to do so.
While some international business owners are able to travel to the U.S. to open an account, this can cause problems for others. Many people ask a friend or family member who lives in the U.S. to open the bank account on their company’s behalf.
Other business owners appoint a manager (LLC) or director (corporation) who already lives in the U.S. as an authorized person to open and manage the business bank account. Some business owners have had success by finding a branch of an American bank that is located near them, and asking that branch to facilitate opening an account.
Once you've decided on a bank, it's generally a good idea to call ahead to see what is required to open the account, since requirements differ from bank to bank.