Due to the restrictive legal regulations of U.S. banks regarding opening bank accounts for companies whose owners are non-U.S. tax residents and not residents of the U.S.A., as mentioned on our website, the process of opening a bank account for such a company is not as straightforward as for a U.S. company. Banks must know their customers and be convinced that their clients do not expose the bank to the risk of violating legal regulations imposed on them by federal and state law. To avoid unnecessary expenditure on related to registering a company in one of the U.S. states without eventually obtaining a bank account, we recommend establishing a bank account in the U.S.A. first by an individual (or individuals) who will be the future owner of the American company. This way, if the bank positively verifies this person and opens their account, there is a high likelihood that the bank will also open a bank account for the company. In case of a negative decision regarding the opening of a bank account, banks are not required to provide a reason for the refusal to open a bank account.

Benefits for companies registered in the U.S.A. (and their owners) that do not conduct business in the U.S.A. but only in the country of their residence, and have accounts in U.S. banks include:

• The ability to accumulate capital in the company’s account or accounts in U.S. dollars;
• Access to capital markets – 60% of companies by equity value are in the U.S.A.
• The ability to apply for business financing in American banks and financial institutions.
• Maintaining accounting records according to U.S. accounting standards (very important when applying for financing in banks, financial institutions, and in relations with investors in the U.S.A. and abroad), namely, the so-called U.S. GAAP (United States Generally Accepted Accounting Principles).
• Legal protection of private property guaranteed by U.S.A. law and the state law of the particular state (for example, Delaware, Nevada, and others).
• Changing the global image of the company.
• Potential tax benefits.
• Opportunities to invest earned and deposited money in American banks in U.S.A. stock exchanges and in federal, state, and municipal bonds, as well as in other financial instruments and ventures (if they are not treated by tax law as conducting business in the U.S.A.).
• Other benefits not listed above.