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Incorporating in the USA as a non resident for banking & income purposes

Asked by: Nick  — 8 January, 2013

Hi There!

I am an Australian citizen currently living in Canada and wish to form an LLC in wyoming – as it appears to be the best option. My business will be 100% e-commerced based and half of my market is in the USA. All my vendors are in and ship from the USA too. I will be shipping internationally also. From your very useful! information it appears I can setup a business in the USA but want to know what are my best options as to banking / merchant services and paying personal income tax as I am a non resident. Also not sure if this weighs on this situation but I will be moving back to Australia within the year. Any help will be most grateful. Looking forward to working with you guys!

Thanks

Answered by: admin  — 8 January, 2013

Nick,

You may apply online to register an LLC in Wyoming, regardless where you live, as you are not required to be present in the United States.

Banking in the U.S. is a hot topic for international business owners, as this is difficult to accomplish as banks in the U.S. require applicants to appear in person. Of course, we understand this is quite impractical and sometimes impossible to travel all the way to the states to apply for a bank account. Being you currently reside in Canada, your best bet would be to drive, fly or even walk across the border to any large U.S. banking chain in any of the states, and get the account open.

If you are unable to physically come to the U.S., you can find other tips, resources and suggestions in our research section ‘U.S. Bank Account‘.

To my understanding, you are not required to have a U.S. address to register the company or to open the company bank account. For a merchant account, you may need to have a U.S. address. (It is always best to consult the merchant service providers directly for their exact limitations and requirements). As having a U.S. address is not a state requirement when forming the business, it is not a service we offer ourselves, however, we do have a list of resources and comparisons of several virtual office providers in our section ‘U.S. Business Address‘. You would need to reserve this address first to use on the initial company formation documents.

If you move at a later date, you would be able to change the business address by filing a Certificate of Amendment, which will allow you to change any of the filed Articles. (The EIN account would also need to be updated when changing the name, address or ownership of the business).

Regarding taxes, an LLC is a pass-through entity, which means the profits are passed-through the entity directly to the owners’ personal income, so you would pay personal income taxes as per your place of residence. We offer a free-tax webinar specifically designed for international residents, which addresses the common tax questions of owning a U.S. business.

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