Call Us Now: +1 (877) 330-2677 Live Chat: ONLINE NOW            
https://d25eic0jctudgb.cloudfront.net/images/site/general/answers-to-answers-8743d0241f5d8c2c996225efe2063f89
https://d25eic0jctudgb.cloudfront.net/images/site/headlines/articles.jpg-5fa541d76bf4be9016b1176147b3bc96

Foreign corporation needs US bank account

Asked by: Nicholas - 4 November, 2012
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/default.png-f1597c1da25f30f8c1a941405e8391c8 We are a foreign corporation based in Hong Kong that are in need of a US business bank account. We will transfer money from our Hong Kong Paypal account to the US bank account, and then send it to our bank account in Hong Kong. Are there any tax implications by simply having a US bank account? Do we need to obtain an EIN, and would this give us any tax filing obligations? The director of the company can come to US in person to open the account.
Answered by: Ray Albert - 10 November, 2012
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/194.jpg-630c771619e92bede7e6f696b56767b9 Nicholas,

The company would probably need to obtain an EIN to be able to open a bank account on behalf of the business. If one of the directors can physically come to the U.S. to apply in person, usually you would have no problem opening the account.

As far as taxes go, it is always a good idea to consult a licensed accountant prior to making any filing steps.

Comments:

We Want To Connect With You!

Social Media is increasingly the preferred method for businesses to connect with their clients, peers and customers. We are dedicated to share information and useful tools to help you grow your business.

Like us on Facebook, follow us on Twitter, and let's begin the exchange to Help Grow America One Business at a Time - starting with yours!

https://d25eic0jctudgb.cloudfront.net/images/site/general/payment-methods-footer-052a63251a379d6e5ece1801f07470fc Official PayPal Seal SecurityMetrics for PCI Compliance, QSA, IDS, Penetration Testing, Forensics, and Vulnerability Assessment