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LIVE Q&A WITH JAMES BAKER is happening in 12 days
Open your US bank account here
If you have your LLC you now need to open bank accounts (the first two are free so open both!). I'm going to share some links below to what I think are the best options. They are my affiliate links and I'll address them separately so you can understand the benefits. When applying, be honest but always emphasize more on how you will help your US clients. Relay financial - I have a great relationship with relayfi and they have told me that applicants that use this link have a greater likelihood of being approved. I use relay for my business and it has been great.the account is free to open. https://app.relayfi.com/register?referralcode=jimbaker Mercury bank - this is another great option. Again focus on how you are serving clients in the US. This link should give you bonuses once you are approved. The account is free to open. https://mercury.com/partner/jamesbakercpa Wise - this is not a bank but is a useful way to get paid and pay other people sign up with my link to get free transfers up to $500.. the account is free to open but there are small fees to open different currency accounts https://wise.com/invite/ahpc/jamesb2812 Stripe - if you are selling anything I would first try stripe.com for payment processing. I don't have a special link for them. Let me know if there are other accounts you may be interested in, how this goes for you and which you prefer!
Business Bank Account
Hello, I have a U.S.-registered business and possess my business registration documents, EIN, and ITIN. However, I have been unable to open a U.S. business bank account online because my country of residence is Bangladesh. Could you please advise me on how I can successfully open a U.S. business bank account as a non-U.S. resident? I would appreciate your guidance on which banks or fintech platforms accept business owners residing in Bangladesh and what documents are required. I am looking for a solution that allows me to open and manage my account remotely, receive payments from U.S. customers, and make domestic and international transfers. If you can assist me with the application process or recommend a suitable banking provider, I would be very grateful. Thank you for your time and assistance. I look forward to your advice.
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How did you structure your GP/LP?
Was wondering how do fellow Canadians structure their real estate properties in a GP/LP structure? I currently have one bank account per LLC where rental income goes, and my assistant managing my expense account. I heard making a property management LLC helps with asset protection.
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Investing Through MMLLC or Personal Account?
For non-US residents with an ITIN, is it generally more tax-efficient to invest through a US Multi-Member LLC or a personal US brokerage account? What are the main pros and cons of investing directly through the LLC versus distributing profits to members and investing personally? I'd be interested to hear what others have chosen and why.
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Canadian Entrepreneur Looking to Establish a U.S. LLC 🇨🇦🇺🇸
Hi James! I'm a Canadian entrepreneur currently building my virtual real estate wholesaling business in the United States. I'm interested in using your services to establish my U.S. business entity properly. As a Canadian non-resident, I would need assistance with LLC formation, obtaining an EIN, setting up a U.S. business bank account, and understanding the cross-border tax requirements. Could you please explain how your process works, what services are included, the total cost, and how long it typically takes? I'd also appreciate your recommendation on the best business structure for my situation. Looking forward to working with you! Thank you, Vitaly
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