If you trade with U.S. companies, your clients might request payments through local U.S. banking methods. Although some businesses use services like PayPal or wire transfers, these methods can often be inconvenient, time-consuming, and costly.
The U.S. Government imposes strict regulations on non-residents seeking to open a U.S. bank account, but the process is not impossible.
Options for Opening a U.S. Bank Account as a Non-Resident:
1. Online Banks:
Non-residents may be able to open an account with online banks such as Silicon Valley Bank or Everbank. However, this process can be time-consuming and may require extensive documentation to prove your credibility.
2. Visit the U.S. in Person:
Another option is to plan a visit to the U.S. to apply for a bank account in person. To do this, you’ll need to gather the necessary documents before your trip, and you’ll need to demonstrate your credibility to the banks. This option also requires you to obtain a U.S. visa, which can be a challenging and lengthy process.
If you’re looking to expand your business in the U.S. and require help setting up a U.S. bank account, we’re here to assist you. Reach out to us for more information or any questions.
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