Thread: US Bank Account
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Old 11-17-2004, 07:38 AM  
azguy
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Join Date: Nov 2004
Location: Scottsdale, AZ
Posts: 5,167
Quote:
Originally posted by EddiePulp
may sound stupid.. but I have no idea where to even start..
What fees etc involved in starting a corp? and how much paper work ?
As a foreigner, you would want to incorporate in either Nevada or Delaware. My favorite has always been Delaware, although I do business with Nevada corporations as well.

There's a lot to learn, and you should start reading. Be informed. Don't just read my post and incorporate in Delaware. There are many things to consider, and a good book will know to tell you about them (try "Incorporate Delaware" or "Incorporate Nevada" on Amazon).

Other than that, spend a week looking up guides, how-to's, and other information on Google. Start making yourself familiar with the different corporate structures available (C-Corporation, Limited Liability Corporation, S-Corporation, etc.). Each has its own advantages and disadvantages. READ ABOUT THEM. Also do a thorough research regarding Tax issues that will be relevant to you. Owning a company is no joke, and you should take it very seriously.

Being outside of the US does not make it easy for you. Don't believe people who say you can't open a bank account with no SSN... That's total BS. You can easily do so, if you happen to visit the US any time soon If not, there are companies who can do it for you, but will charge alot. I like http://www.thedelawarecompany.com/ and have used them for 3 incorporations in the past. They're quick and relatively cheap. Be sure to get "Certificate of Incorporation/Formation with Apostille" as you will need it in the future FOR SURE, especially if you ever want to open bank accounts in your home country, etc.

"International Mail forwarding" and other crap like that is not needed. Don't take it, as they will sure try to stick it to you by making up excuses about important LEGAL documents you may receive. CRAP. They must forward those ANYWAY. What it means is simply forwarding any future mail from clients, etc. No need in the beginning, unless you really want it.

"Tax ID number (EIN) for non-U.S. Persons" at The Delaware Corporation is expensive. US Citizens get it for free, but one of your company officers must have a SSN. If you can, get a US partner (family member, etc.), or just pay the fee. Shop around, there might be better providers of incorporation services. Some really try to rip off international customers.

Other links to start with:

http://www.google.com/search?hl=en&l...Incorporate%22

https://www.corporate.com/howToInc.jsp

The best suggestion is get a good book.

Any more questions?
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