Opening a bank account in the USA

For many people, the United States of America is a dream country to live in or to do business in. The United States has the most developed banking system in the world. A bank account in this country opens up huge opportunities for people and companies. An individual will need it to move to America, make purchases, or get a residence permit. A legal entity needs to open a bank account in the USA in order to do business there. Lawtter Solutions offers clients the opportunity to open a U.S. bank account quickly and hassle-free.

The cost
of the service

1 000 EUR*

Term for opening
a bank account

1-3 months

Support

Multilingual

Account
opening type

With personal visit

* The cost is indicative; contact Lawtter Solutions’ lawyers to inquire about the cost of opening an account with the selected bank.

Opening an account

Basic information about opening a bank account in the U.S.

The requirements for opening bank accounts in the United States are not simple. This is because this sphere is very strictly regulated, and a financial institution may be deprived of its license in case of any violations.

Nevertheless, a non-resident of the USA can open an account in a U.S. bank. It is even possible to open offshore accounts (offshore companies can only operate abroad; they are not allowed to operate in the USA). Before opening up a U.S. bank account, it is necessary to know that each state has its own rules regarding registration in the banking system and servicing of foreigners. For example, the most loyal jurisdiction for foreign business is the state of Delaware. Here, many companies register for offshore activities and open accounts. The rules for opening accounts for foreigners and foreign business may differ from state to state, so knowing about them in advance is necessary. Thus, if you wonder, ‘Can I open a U.S. bank account as a foreigner?’, the answer can be provided only when you select the state.

It’s impossible to open a U.S. bank account online without being present in person. You will have to visit a bank branch and undergo an interview. It is not possible to do this remotely via the Internet.

Advantages of opening a bank account in the USA

Opening up a U.S. bank account offers several important benefits, including:

Capital security

The USA is the country with the most developed banking system in the world. Here, clients’ funds are maximally protected and insured by the state.

Ability to conduct business in the United States

The business can pay wages, conduct transactions with minimal fees throughout the U.S., and accept customer payments without problems.

Passive income

American banks offer many services to generate passive income. For example, you can invest in pension savings or buy shares directly through mobile applications.

Tech-savvy

U.S. banks’ mobile apps are some of the most user-friendly and technologically advanced in the world. They allow you to perform various transactions, set up automatic bill payments, control expenses, invest, quickly contact support, etc.

Documents

Documents for opening a bank account in the USA

Opening an account in a U.S. bank will require the client to submit a set of documents. Individuals and legal entities can submit them while abroad. This will save time.

For individuals, the package includes the following documents:

I.D.
Proof of residential address.
Taxpayer Identification Number.
Confirmation of origin of funds.
Resume (CV).

What do u need to open a bank account for a legal entity? The document package will be as follows:

Constituent documents of the organization.
I.D.s of the director and shareholders (if the manager opens the account, their I.D. and a power of attorney issued by the director are required).
Confirmation of the residential addresses of the director, shareholders, and manager.
Contracts with partners.
Confirmation of origin of funds.

Stages of opening an account

Services of Lawtter Solutions

Lawtter Solutions will help individuals and legal entities open a U.S. bank account. Our specialists provide full legal support. We help with account opening in the leading financial organizations of the USA, which provide relevant services for non-residents:

Bank of America;
Citibank;
Wells Fargo;
Euro Pacific Capital;
T.D. Bank;
United Bank, etc.

Lawtter Solutions carries out the account opening procedure step by step. It includes the following steps:

Selection of a bank and the corresponding list of banking services

Preparing a package of documents

Application preparation

Passing verification

Obtaining all account details and accesses

Lawtter Solutions will ensure that a U.S. bank account is opened according to the client’s required range of banking services.