Us Bank Account

[sajal]

hello all...

im thinking what are the procedures/legalities to open a US bank account for a foreigner (not thai, not american, not european) company.

i have a Mauritius company and would like to open an account un the US so i could collect payments from paypal and other online gateways.

is it possible?

which banks allow this?

do i have to go physically to the bank to open an account? - itll have to wait for a few months then...

can somebody else apply on my behalf?

am i entitled to US taxes?

any recomendations for the banks?

what i need is....

online local transfer...to US account...

online SWIFT transfer(wire transfer.... T/T....) so i can make payments.....send money to the companies main account....send money to me....

paypal and others should be able to directly deposit into this a/c...

maybe a lil off topic as nuthin related to thailand......

[OldAsiaHand]

I doubt you will be able to do it unless the company already has a good banking relationship somewhere. In this age of 'know your customer,' banks aren't anxious to open accounts for anyone (or any company) they cannot identify clearly, either by a prior banking relationship or occasionally through references from other banks. If you can get an introduction from a reputable bank abroad (which can be confirmed with a specific person there who knows you or the company), you could probably get ian account opened fairly easily at any of the major money center banks (although, still, doing it without showing up personally would be doubtful). Without a solid introduction, however, I wouldn't like your chances at all.

[sajal]

thanks a lot oldasiahand...

would it help if i have a HSBC account with mauritius for last 2 years?

the company i wanna open account for in the US is not yet formed but it would be within the next 2 weeks,...

just suppose i manage to get a US bank account, what next?

do i need to pay any tax if paypal does a deposit to my US bank account? need to file any returns or anything on that?

[redwood13]

This may help you.

http://tinyurl.com/7jca5

-redwood

[LaReina]

This may help you.

http://tinyurl.com/7jca5

-redwood

<{POST_SNAPBACK}>

so was this written before or after 9/11. You need to show a valid ID if you are in the states to open an account plus provide tax id information. Some banks require you to be present to sign your documentation. In this day and age of money laundering banks have begun to mind their P's and Q's.

Why dont you just send an email to a bank..

Chase, Citibank.. and ask them

[OldAsiaHand]

thanks a lot oldasiahand...

would it help if i have a HSBC account with mauritius for last 2 years?

the company i wanna open account for in the US is not yet formed but it would be within the next 2 weeks,...

just suppose i manage to get a US bank account, what next?

do i need to pay any tax if paypal does a deposit to my US bank account? need to file any returns or anything on that?

<{POST_SNAPBACK}>

It's the banking relationship of the company that generally matters and, if it isn't formed yet, I gather it can't have one. My best advice would be to ask HSBC, on the strength of the relationship you already have with them, to open an account for your new company at one of their US branches. If you are a good enough customer (or seem likely to become one), they might well do it for you.

As for the rest of your questions, you are raising very complicated issues which depend on what business you are doing in the US, if any. As a general rule, if you are 'engaging in a trade or business' in the US, you will indeed have to file a tax return and pay tax on whatever profits are derived from those earnings.