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Open bank account in USA from abroad

Asked by: MJ - 31 January, 2012
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/default.png-f1597c1da25f30f8c1a941405e8391c8 I am a resident and citizen of India.
I have stayed in USA from 2003 to 2010 and I have a valid SSN.
I have incorporated a company in DE, and I have got the EIN too.

1) Since I have a LLC, I can avail pass through taxation and being a non-resident in USA, I would not have to pay taxes, as per US-India tax treaty, is that correct? I will of course pay taxes here in India.
2) I want to open a bank account in my company's name. Is it possible to do it from India? I really do not want to spend $1500-$2000 just for a one day visit to a bank. Any other option?

Thanks,
MJ
Answered by: Ray Albert - 12 February, 2012
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/194.jpg-630c771619e92bede7e6f696b56767b9 MJ,

To be very honest with you, the best person to ask the question regarding the US-India tax treaty would be an accountant. As we are professional incorporators, we are not professional accountants.

Unfortunately, today practically all US banks require the business owners to be physically present when opening the company bank account. We have deeply investigated different methods and services to be able to remotely open bank accounts, however it always come down to the fact that the U.S. banks require you to sign all the applications in person.

I wish I could have given you a more positive answer. One idea you may want to investigate is the possibility of finding a business partner in the U.S. that you could add as an owner of the company. Then maybe they could sign the banking paperwork on behalf of the business and have the account opened.

Good luck, I hope you are able to find this answer helpful.

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