LLC Bank Account: Finalizing Your LLC
The last and most important step of opening your LLC is opening the bank account tied to the LLC. Without it, your company isn’t functional, which means you can’t do business on US soil or purchase that dream property you found.
You can open your LLC bank account in two different ways — in person or online. The Nonresident Investor team offers either service to all our clients.
Opening an LLC Bank Account
The Online Way
Most of our clients opt to open a bank account online since it’s more convenient. Doing everything online, with the help of the Nonresident Investor team, means that you won’t have to make several trips to the US just to open one bank account in person.
However, being able to do that means opting for one of just a handful of banks that offer online account opening services. Most of the major American banks have online services, but opening an account requires a physical presence of the client as well as an actual signature.
There are a few banks that the Nonresident Investor partners with that will allow you to open an LLC bank account online:
The Offline Way
Having an American LLC opens a lot of doors for foreign investors. A US-based LLC means that you will be a welcome client in any bank worldwide.
Of course, it also means that you can open an account in any American bank as well. All the traditional banks such as Bank of America, JP Morgan Chase, and Goldman Sachs, for example, will welcome you with open arms if you want to open an LLC bank account with them.
However, keep in mind that, in order to do that, your LLC’s managing partner needs to go to the bank in person and set up the account. They also need to provide some papers, like the Operating Agreement and the company’s EIN to the bank, as proof that the LLC was set up properly.
Although you can open a bank account anywhere, it will be much easier for you, as a nonresident investor, to open one in a bank that’s in the state (and city) in which you plan to make your investment. That will make it easier for you to get financing and sort out the legal paperwork during the purchasing process.
No matter which option you go for, the Nonresident Investor team will be there to help.
Our services were created to assist investors in navigating the complex real estate market, covering everything from LLC formation to property management based on years of experience in the industry.