New Federal Requirement: Starting January 1, 2024, most business entities in the US will need to report Beneficial Ownership Information.
Hi, I’d like to setup a company in the US for doing online business (so no physical presence in the country or selling products there). There would be me and one other person as the owner of that company, we also need need a tax ID and bank account. We both have social security numbers. Could you please help with this? Would you recommend LLC or Inc. and which state would be the best for this type of business?
Jana,
Typically, when you have only a few owners of an online business that isn’t selling products, registering an LLC in Wyoming makes the most sense for the cost-effective set-up and maintenance fees offered by the state.
We can set the company up and get your federal tax id with no problem, however, you will have to physically come to the U.S. to open the company bank account.
As this is a type of question we come across quite frequently, I’d like to invite you to read a previous answer posted by my colleague Robert, which specifically addresses your question, and some further information regarding international residents Incorporating in the U.S. which you may find to be helpful to your business plans.
(a) You made a typo in the card number, CCV code, expiration date, name or address;
(b) Your card balance is too low;
(c) Issuing bank has declined this transaction for some other reason related to your account.
