U.S. Company Formation with Bank Account(s) (2024)

Frequently Asked Questions

How are you different from the other company formation vendors?

Startfleet allows you to focus on planning and strategizing your next big idea. Unlike other competitors, we assist with everything you may require, including company formation, assistance with bank accounts, domain names, website legal forms, payment processing, tax filings, and everything in between. StartFleet also partners with various vendors and companies to help you as a founder. To date, our partner network offers more than $500,000 in perks and rewards to boost your business

Where can I register my company?

We primarily assist customers in registering their businesses in Wyoming, Delaware, and Florida. If you wish, we can also help you form your company in the other 47 United States; please get in touch with us at hello@startfleet.io.

Where should I register my company?

US Residents
If you are a US resident, your best bet is to register in the state where you live and work, rather than Wyoming or Delaware, where you do not operate in. If, on the other hand, you want to prepare your startup for Angel and VC investments, we recommend that you incorporate your company as a corporation in Delaware and foreign qualify the business in the state where you conduct business. Normally, this refers to the state where the founders are located and is often the home of one of the founders.

Non-US Residents
If you are a Non-US resident and do not have any US residents on your team, your best option is to either incorporate in Delaware or Wyoming. If you plan to raise funds from angel investors or venture capitalists, you will need to incorporate a Corporation in Delaware instead of Wyoming.

Which countries are not allowed to register a U.S. Company?

In an ideal world, we would want to offer service to everyone. Citizens of Cuba, Iran, North Korea, and Syria, unfortunately, cannot form a legal company in the United States. We will continue to update this list as things change, so please check back frequently.

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Will I get a Bank Account?

Yes. All our packages come with U.S. Business Bank Accounts. In fact, we will help you apply for two banks, so that you could use one as a primary bank account and the other as a backup/secondary bank account. Our team will guide you through the process and will help you get all necessary information to open a business bank account in the U.S. The bank accounts are all FDIC-insured.

What if I want bank accounts at JP Morgan Chase or Bank of America?

If you need bank accounts from major banks such as JP Morgan Chase, Bank of America, Citibank or other major banks, please contact us at hello@startfleet.io. We work with several major banks, but it depends on many factors, such as the industry you are in, your initial deposit, and whether you are able to travel to the United States.

Will I get a Debit Card?

Yes, your bank accounts include debit cards, which can be physical or virtual. From the online banking panel, you can choose to issue physical or virtual debit cards to yourself and your employees.

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Can I have a U.S. company without being there?

Absolutely! US LLCs and C Corporations have a very flexible structure that is ideal for global companies, startups, freelancers, agencies, and digital nomads.

Why should I start my company in the US?

Access to U.S.-based customers, venture capital, tax benefits, banks, accelerators, payment providers and lines of credit are among the benefits of starting a business in the United States. American customers also have a high level of comfort purchasing digital and physical products from U.S.-based companies.

Should I form a LLC or Corporation?

There are few factors to consider, but in general, you will choose between being a tax efficient LLC or investor-friendly C Corporation (Inc.). If you plan to raise funding soon, a C Corporation is a good option; otherwise, register as an LLC for a simpler structure, reduced paperwork and potentially not paying U.S. federal taxes.

Do I need to pay taxes in the US?

In general, if the members of a US LLC are foreigners and the entity does not have any US-connected income, the company will not be subject to US federal taxation. Even if you sell to customers in the US, simply selling products or services through your US company does not subject you to US federal taxes. However, if you incorporate a US C Corporation, you will be subjected to 21% federal income tax.

Which is the best state to incorporate in the US?

Delaware and Wyoming are the top two choices for non-US founders all over the world. Delaware's business laws provide the strongest protection for businesses and are commonly preferred by VCs and angel investors, whereas Wyoming is known for its low annual fees, anonymity and simplicity. If you have compelling reasons to incorporate in a state other than Delaware or Wyoming, we can still assist you because we serve all 50 states.

Show all FAQ

Why should I start my company in the US?

Absolutely! US LLCs and C Corporations have a very flexible structure that is ideal for global companies, startups, freelancers, agencies, and digital nomads.

Why should I start my company in the US?

Access to U.S.-based customers, venture capital, tax benefits, banks, accelerators, payment providers and lines of credit are among the benefits of starting a business in the United States. American customers also have a high level of comfort purchasing digital and physical products from U.S.-based companies.

Should I form a LLC or Corporation?

There are few factors to consider, but in general, you will choose between being a tax efficient LLC or investor-friendly C Corporation (Inc.). If you plan to raise funding soon, a C Corporation is a good option; otherwise, register as an LLC for a simpler structure, reduced paperwork and potentially not paying U.S. federal taxes.

Do I need to pay taxes in the US?

In general, if the members of a US LLC are foreigners and the entity does not have any US-connected income, the company will not be subject to US federal taxation. Even if you sell to customers in the US, simply selling products or services through your US company does not subject you to US federal taxes. However, if you incorporate a US C Corporation, you will be subjected to 21% federal income tax.

Which is the best state to incorporate in the US?

Delaware and Wyoming are the top two choices for non-US founders all over the world. Delaware's business laws provide the strongest protection for businesses and are commonly preferred by VCs and angel investors, whereas Wyoming is known for its low annual fees, anonymity and simplicity. If you have compelling reasons to incorporate in a state other than Delaware or Wyoming, we can still assist you because we serve all 50 states.

Do I need to pay taxes in the US?

Generally, if you are a Non-US Person if:

  • You are not a US-citizen
  • You do not have a US Green Card
  • You do not pass the substantial presence test

Substantial Presence Test calculation is a bit complicated, but general rule of thumb is, if you don't stay in the US for more than 120 days per year, you are safe.

Can I trial Webflow before paying?

Sure! You can test out Webflow on our free plan where you can experiment with 2 projects. Your unhosted projects will have a two-page limit, but you can purchase a site plan on a per-project basis to unlock up to 100 static pages and additional CMS pages.

What can I white label?

Pro accounts can add their own logo to Client Billing forms and the Editor. Pro accounts can also remove references to Webflow in the source code and form submission emails, and hide the Webflow badge from their staging sites.

How does Webflow count monthly visits?

We calculate monthly visits as the total unique daily visits in a month. Multiple visits by the same person in one day therefore only count as one visit.

What kind of support does Webflow provide?

We offer fast email support to paid accounts and prioritized help for team accounts. Community support (forum.webflow.com) is available to free accounts.

U.S. Company Formation with Bank Account(s) (2024)

FAQs

How do I open a US corporate bank account? ›

You're likely to be asked for the following documents:
  1. Photo ID for the director opening the account.
  2. Proof of personal address for the named director.
  3. Articles of incorporation/organization. ...
  4. EIN (Federal Employer Identification Number) confirmation letter. ...
  5. Proof of business address.

Can a company have a bank account? ›

You can open a business bank account once you've gotten your federal EIN. Most business bank accounts offer perks that don't come with a standard personal bank account. Protection. Business banking offers limited personal liability protection by keeping your business funds separate from your personal funds.

Can a US LLC have a foreign bank account? ›

A U.S. person, including a citizen, resident, corporation, partnership, limited liability company, trust and estate, must file an FBAR to report: a financial interest in or signature or other authority over at least one financial account located outside the United States if.

How to open an LLC with bank of America? ›

How to Open an LLC Bank Account
  1. Name and address of business.
  2. Business tax ID number: Business Employer Identification Number (EIN) provided by the IRS in the following 9-digit format XX-XXXXXXX, or, if the LLC is a single member LLC, the EIN of the company or the Social Security Number (SSN) of the single member.

Does a US company need a US bank account? ›

Nearly all U.S. payroll providers require a U.S. bank account to process U.S. payroll. If the only reason you need a U.S. bank account is to collect payments from your U.S. customers, there are other convenient options, like alternative payment methods (APMs).

What kind of bank account should I open as an LLC? ›

Opening a business bank account for your LLC doesn't just help streamline bookkeeping and operations (though it does that, too). A dedicated LLC bank account is an essential step to maintaining the legal distinction between the business and its owners, which is necessary to preserve limited liability protections.

Does an LLC need an EIN to open a bank account? ›

Having an EIN proves to your bank that you're running a legitimate business. That's why sole proprietors with employees, LLCs, partnerships and corporations are typically required to provide one when applying for a business bank account. But there are exceptions.

Does an LLC need its own bank account? ›

Having a separate bank account for your LLC is required to protect your personal assets from business liabilities. Savvy entrepreneurs know they should never mix personal funds and accounts with company assets, so it's important to know how to open a bank account for an LLC.

How to create a corporate bank account? ›

You will need the following documents to open a business bank account with Volopay - Memorandum of Association (MoA), Articles of Association (AoA), filled application form, duly-signed board resolution, company's PAN card, certificate of incorporation that is obtained at the time of company registration, company ...

Can the IRS see my foreign bank account? ›

The Foreign Account Tax Compliance Act (FATCA) requires foreign banks to report account numbers, balances, names, addresses, and identification numbers of account holders to the IRS.

What happens if I have more than $10,000 in a foreign bank account? ›

A United States person that has a financial interest in or signature authority over foreign financial accounts must file an FBAR if the aggregate value of the foreign financial accounts exceeds $10,000 at any time during the calendar year. The full line item instructions are located at FBAR Line Item Instructions.

Do Mexican banks report to the IRS? ›

For example, Mexican account information of US persons who directly or indirectly own Mexican accounts will be reported to the US IRS under the US FATCA regime and, similarly, Mexican account information of non-residents of Mexico who reside in CRS-participating countries and who directly or indirectly own Mexican ...

Can an LLC have multiple bank accounts? ›

Yes, you can have multiple business bank accounts. In fact, there's no limit on how many business accounts you can have. To find the right number for you, determine which types of business bank accounts you need — business checking, savings, CDs or even cash management — and why.

How many business bank accounts can one LLC have? ›

It is legal to open as many business accounts as you want, as long as it makes sense for your business. Just be sure that your business is fit to manage these accounts and the many security sequences you'll need to keep track of when managing them.

Can an LLC have a money market account? ›

Can a business have a money market account? Yes, a business can open a money market account to earn interest on savings. Several online and brick-and-mortar banks offer business money market accounts that earn upward of 3% APY, depending on your balance.

What do you need to open a corporate bank account? ›

What do I need to open a business bank account?
  1. A federal tax ID number for the business, also known as an employer identification number.
  2. Your Social Security number if you are a sole proprietor.
  3. State or local authority documents that show you've formed a legal entity, such as a limited liability company (LLC)
Apr 10, 2023

Can I open a bank account with an EIN only? ›

You cannot open a business bank account with an EIN only. Banks have many standards they have to maintain as a matter of compliance with regulations. As a result, they ask for much more than an EIN. Financial institutions are subject to intense oversight for a number of reasons.

Can a foreigner open a US business bank account? ›

As there aren't any residency requirements for business bank accounts, opening a U.S. business bank account as a non-resident shouldn't cause any issues.

How to open corporate bank account online? ›

What information's are required to open business bank account in India?
  1. Employer information. ...
  2. Personal identification. ...
  3. Business registration documentation. ...
  4. Ownership and partnership agreements. ...
  5. Licensing information. ...
  6. Brand and company certifications. ...
  7. Credit score information.

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