About bank account
Asked by: san - 28 September, 2012
HI Loyd, i have a question regarding one of the questions you answered on your website... that question was "Do we have to open a bank account in the same state as my LLC?" My LLC is regiestered in WY and I have an ecommerce store that ships products to every state in the US. I want to open a bank account in Florida. I ship a lot of products to my clients in Florida...does that mean im doing business in Florida and must setup as Foreign entity? My LLC has been setup as domestic entity by my CPA and Im a Non-Us resident. Thank you in advance!! Wish I found you guys 2 years back when I setup my LLC.. You are doing a great job helping us with our questions..I really appreciate it!
HI Loyd, i have a question regarding one of the questions you answered on your website... that question was "Do we have to open a bank account in the same state as my LLC?" My LLC is regiestered in WY and I have an ecommerce store that ships products to every state in the US. I want to open a bank account in Florida. I ship a lot of products to my clients in Florida...does that mean im doing business in Florida and must setup as Foreign entity? My LLC has been setup as domestic entity by my CPA and Im a Non-Us resident. Thank you in advance!! Wish I found you guys 2 years back when I setup my LLC.. You are doing a great job helping us with our questions..I really appreciate it!
Answered by: Ray Albert - 28 September, 2012
San,
As Lloyd had stated, you should have little problem opening the bank account in Florida for a Wyoming LLC. You may however have to travel to Florida to do so, as banks typically require applicants to appear in person. We have a research article titled 'U.S. Bank Accounts for Non-U.S. Residents' which may offer some helpful suggestions to help you accomplish this remotely.
You would need to file as a foreign entity in Florida if, for example, you decided you wanted to open an office there, hire employees, or use a warehouse to store the products. If you are simply shipping products to your clients in Florida from your company's website, then no, you would not need to file your WY LLC as a foreign entity.
San,As Lloyd had stated, you should have little problem opening the bank account in Florida for a Wyoming LLC. You may however have to travel to Florida to do so, as banks typically require applicants to appear in person. We have a research article titled 'U.S. Bank Accounts for Non-U.S. Residents' which may offer some helpful suggestions to help you accomplish this remotely.
You would need to file as a foreign entity in Florida if, for example, you decided you wanted to open an office there, hire employees, or use a warehouse to store the products. If you are simply shipping products to your clients in Florida from your company's website, then no, you would not need to file your WY LLC as a foreign entity.
