We are planning to start a new online match-making company in US. We are physically in Singapore but will want to set up the company in US. Which state will be suitable for our business model? If there is monetary transaction involved, can I open a banking account in US for transaction only?
Being a non-U.S. resident, if you do not plan on having a physical presence in any one particular state (such as an office, employees, etc.), you could register in any state, and you may even list your company in Singapore as partial or whole owner of the U.S. entity.
We have a research article titled ‘U.S. Companies for Foreigners‘, which offers a side-by-side comparison of the top recommended states, and guides you through the online application process.
To accept payments, you would need to open a merchant account, which can actually be done without a U.S. bank account. We are able to put you in touch with several providers of merchant services who will send you their quotes for rates and terms. This free option is located in the “Bonus” section of any of our entity registration applications.
Regarding U.S. bank accounts, this is a challenging problem if you are unable to physically travel to the states and apply to a U.S. bank in person. We are trying to resolve this issue and are hoping to have a sure-fire solution in the near future. For now, please refer to our ‘Banking in the U.S.‘ article to see what options are available.
(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.