Two main types of options
Online providers, often backed by partner banks, frequently accept remote applications. Traditional banks may ask for a branch appointment, which means a trip to the United States.
The documents to gather
A consistent application is the best preparation. The documents usually requested:
- Articles of Organization
- EIN confirmation letter (CP 575 or 147C)
- Operating Agreement
- Passport of each beneficial owner
- Recent proof of address
- A clear description of the business, and your website if you have one
Why an application can be refused
Banks apply their own criteria and are not required to explain a refusal. Common causes: an unsupported country of residence, a business seen as high risk, inconsistent documents or a vague business description.
Our advice
Prepare a precise business description, make sure the company name is identical everywhere, and answer the bank's requests quickly. No provider can guarantee that an account will be opened.
This article is for information only and is not legal or tax advice. The rules mentioned may have changed since the update date.
