How to open a US business bank account as a nonresident
by Team Devanta Authority
- December 28, 2025
- Banking
Opening a US business bank account as a non-resident is one of the most important—and often most confusing—steps when starting or operating a company in the United States. For foreign entrepreneurs, the process can feel unclear due to unfamiliar banking rules, additional compliance requirements, and common misconceptions around Social Security numbers, residency, or physical presence in the U.S.
The good news is that non-residents can open a US business bank account, provided they meet specific criteria and follow the correct process. U.S. banks and financial institutions allow foreign founders to manage business finances through properly registered U.S. entities, such as LLCs or corporations, even if the owners live abroad and do not hold U.S. citizenship or residency.
A US business bank account is essential for operating legitimately in the American market. It allows you to separate personal and business finances, receive payments from U.S. customers, pay vendors, access modern banking tools, and establish credibility with partners and platforms. Attempting to run a U.S. company without a dedicated business account often leads to operational issues, compliance risks, and rejected payments.
However, opening a business bank account as a non-resident is not identical to the process for U.S. residents. Banks typically require additional documentation, such as proof of company formation, an Employer Identification Number (EIN), and verified address information. Some institutions may also restrict in-person visits, online applications, or acceptable address types, which is why understanding your options upfront is critical.
This guide explains how non-resident founders can open a US business bank account, what documents are required, which challenges to expect, and how the process works in practice. Whether you are forming a new U.S. company or already operate one from abroad, this article will help you understand the requirements and navigate the banking process with clarity and confidence.
Can a non-resident open a US business bank account?
Yes, a non-resident can open a US business bank account, but only under specific conditions. U.S. banks do not open business accounts for individuals directly unless they are U.S. residents. Instead, the account must belong to a properly registered U.S. business entity, such as an LLC or a corporation. As long as the company is legally formed in the United States and meets banking compliance requirements, foreign ownership is permitted.
The most important distinction to understand is the difference between personal and business banking. While opening a personal U.S. bank account as a non-resident is often difficult or impossible without residency, opening a business bank account is far more achievable when the business itself is a U.S.-registered entity. In this case, the bank evaluates the company, its ownership structure, and its compliance documentation rather than the immigration status of the founder.
Non-resident founders are not required to be U.S. citizens or green card holders, and in many cases, they do not need to hold a U.S. visa. What banks focus on instead is whether the business is legitimate, properly documented, and compliant with U.S. regulations. This includes verifying the company’s formation documents, confirming its Employer Identification Number (EIN), and identifying the individuals who ultimately own or control the business.
That said, non-residents should expect additional scrutiny compared to U.S. residents. Banks are required to follow strict Know Your Customer (KYC) and Anti-Money Laundering (AML) rules, which means foreign-owned businesses often undergo more detailed reviews. This is standard practice and does not indicate a higher risk of rejection when documentation is accurate and complete.
In practical terms, thousands of non-resident entrepreneurs successfully open U.S. business bank accounts every year. The key is understanding that eligibility depends on the business structure and compliance readiness, not on physical presence or residency status. When the correct entity setup and documentation are in place, opening a U.S. business bank account as a non-resident is both legal and achievable.
What do you need to open a US business bank account as a foreigner?
To open a US business bank account as a foreigner, banks require a specific set of documents that prove your company legally exists, verify who owns and controls it, and confirm that it complies with U.S. banking regulations. While requirements may vary slightly between institutions, the core documentation is largely consistent across banks and fintech providers.
First, you must have a properly registered U.S. business entity. Banks do not open business accounts for foreign individuals alone; the account must be tied to a U.S.-based LLC or corporation. This means you need official formation documents issued by the state where the company was registered, such as Articles of Organization or a Certificate of Formation. These documents confirm that your business is active and legally recognized in the United States.
An Employer Identification Number, commonly referred to as an EIN, is also mandatory. The EIN functions as the company’s federal tax identification number and is required by all U.S. banks. Some banks allow you to enter the EIN during the application process, while others request official proof, such as the IRS EIN confirmation letter. Without an EIN, a business bank account cannot be opened, regardless of your residency status.
Banks will also require identity verification for the company’s owners or authorized signers. For foreign founders, a valid passport is typically sufficient. In some cases, banks may request additional identification or supporting documents, especially when ownership structures are complex or involve multiple international stakeholders. While a Social Security Number is not required for non-residents, all beneficial owners must still be identified under U.S. compliance rules.
Address information is another key requirement. Banks usually ask for a registered business address in the United States, which is often the address of the company’s registered agent. In addition, they may request a trading or operating address, which can be located outside the U.S. Proof of a foreign address, such as a utility bill or official correspondence, is commonly accepted for non-resident owners. Virtual U.S. business addresses are also widely used and accepted by many institutions when set up correctly.
Finally, some banks may request additional information during the review process. This can include a brief explanation of the company’s activities, expected transaction volumes, or the source of initial funds. These requests are part of standard compliance checks and are more common for foreign-owned businesses, especially when accounts are opened remotely.
Understanding these requirements in advance helps prevent delays and rejections. When your company is properly formed and documentation is complete, opening a U.S. business bank account as a foreigner becomes a structured and manageable process rather than an uncertain one.
Required documents
When opening a U.S. business bank account as a foreign founder, banks focus on verifying three key things: that your business legally exists, that the people behind it can be identified, and that the account complies with U.S. banking regulations. To do this, they require a specific set of documents that must be accurate, consistent, and up to date.
The foundation of the application is proof of company formation. Banks will ask for official registration documents issued by the U.S. state where your business was formed. Depending on the state, this document may be called Articles of Organization, a Certificate of Formation, or a Certificate of Organization. Regardless of the name, it serves the same purpose: confirming that your LLC or corporation is legally registered and active. Without this document, a business bank account cannot be opened.
An Employer Identification Number is equally essential. The EIN is the federal tax identification number assigned to your company by the Internal Revenue Service and is required by all U.S. banks. In many cases, banks will ask for formal proof of the EIN, such as the IRS confirmation letter, to ensure the number is valid and correctly linked to your business. Providing the EIN alone is often not sufficient if supporting documentation is missing.
Identity verification is another mandatory requirement. For non-resident founders, a valid passport is typically the primary form of identification used during the application process. Banks use this to verify the identity of beneficial owners and authorized signers in line with Know Your Customer and Anti-Money Laundering regulations. While U.S.-issued identification is not required, all owners with significant control or ownership must be disclosed and verified.
Address documentation is also required, although this is often misunderstood. Banks usually request a registered U.S. business address, which is commonly the address of your registered agent. In addition, they may ask for a separate operating or trading address, which can be located outside the United States. Proof of a foreign address, such as a utility bill or official correspondence, is commonly accepted. Many non-residents also use virtual U.S. business addresses, which are accepted by many banks when properly set up.
Depending on the bank and the complexity of the business, additional documentation may be requested. This can include an operating agreement, information about business activities, or an explanation of the source of funds. These requests are part of standard compliance procedures and are especially common for foreign-owned businesses opening accounts remotely.
Having all required documents prepared in advance significantly reduces delays and increases the likelihood of approval. When documentation is complete and consistent, the account opening process becomes far more straightforward, even for non-resident founders.
Do you need an SSN or ITIN?
In most cases, non-resident founders do not need a Social Security Number to open a U.S. business bank account. This is one of the most common concerns foreign entrepreneurs have, and it is also one of the most misunderstood parts of the process. U.S. banks do not require an SSN as long as the account is opened for a properly registered U.S. business and not for personal use.
What banks require instead is clear identification of the business and its owners. For foreign founders, identity verification is typically completed using a valid passport. Banks rely on the company’s Employer Identification Number to identify the business for tax and compliance purposes, rather than the personal tax identification numbers of non-resident owners. As long as the EIN is valid and correctly issued to the company, an SSN is not a prerequisite for opening the account.
An Individual Taxpayer Identification Number, or ITIN, may be accepted by some banks but is not universally required. Certain traditional banks may request an ITIN if one is available, particularly in cases where the founder already has U.S. tax exposure or an existing filing history. However, many fintech banks and non-resident–friendly institutions do not require an ITIN at all, provided that all other documentation is complete and ownership information is properly disclosed.
It is important to understand that the absence of an SSN or ITIN does not automatically limit your options. Instead, it influences which banks are suitable for your situation. Some institutions have stricter internal policies and may decline applications from non-residents without U.S. tax identification numbers, while others are specifically designed to support foreign-owned U.S. businesses.
For non-resident entrepreneurs, the key factor is not personal tax residency but compliance readiness. When the business is correctly formed, the EIN is in place, and ownership details are transparent, opening a U.S. business bank account without an SSN or ITIN is both common and entirely feasible.
Can you open a U.S. business bank account without a U.S. address?
Yes, it is possible to open a U.S. business bank account without having a personal U.S. address, but banks will still require specific address information related to the business. This distinction is important, as many non-resident founders assume that living outside the United States automatically disqualifies them from opening a business bank account. In reality, banks differentiate between a personal residential address and a business address.
U.S. banks generally require a registered business address within the United States. This address is tied to the company itself and is often the address of the registered agent listed during company formation. For non-resident founders, using a registered agent’s address is a standard and widely accepted practice, as it fulfills the bank’s requirement for a U.S.-based business address without requiring the owner to live in the country.
In addition to the registered business address, banks may also ask for an operating or trading address. This address reflects where the business is actually managed or operated from and does not need to be located in the United States. For foreign founders, this is often their home address or office address in their country of residence. Banks typically request proof of this address, such as a utility bill or official document, as part of their compliance process.
Virtual U.S. business addresses are another common solution for non-residents. When properly set up through a reputable provider, these addresses can be used for receiving mail and satisfying banking requirements. However, not all address types are treated equally. Banks generally do not accept PO boxes, and some institutions may apply additional scrutiny to virtual addresses depending on their internal policies.
The key takeaway is that while you do not need to live in the United States or maintain a personal U.S. residence, you must provide valid and verifiable address information that aligns with banking compliance standards. When the distinction between registered, operating, and personal addresses is clearly understood and correctly documented, opening a U.S. business bank account without a U.S. address is both common and achievable for non-resident founders.
Can you open a U.S. business bank account online from abroad?
Yes, many non-resident founders can open a U.S. business bank account online from abroad, but this depends largely on the type of financial institution they choose. Over the past several years, the rise of U.S.-based fintech banks has made remote account opening far more accessible for foreign entrepreneurs who are not physically present in the United States.
Online-first banks and fintech platforms are designed to support digital onboarding and often allow the entire application process to be completed remotely. These institutions typically accept passport-based identity verification, EIN documentation, and digital uploads of company formation records. When the business structure is straightforward and all documents are in order, approval can take place within days, or even hours, without requiring travel to the U.S.
Traditional U.S. banks operate differently. While some may allow non-residents to begin the application process online, many still require an in-person visit to a physical branch to complete identity verification. This requirement is driven by internal risk policies rather than legal restrictions, and it is one of the main reasons foreign founders encounter difficulties when attempting to open accounts with legacy banks from abroad.
Even when opening an account online, banks apply the same compliance standards regardless of where the founder is located. This means that non-resident applicants should expect thorough reviews of ownership structure, business activity, and source of funds. Remote applications may also involve follow-up questions or additional document requests, particularly for foreign-owned businesses operating internationally.
In practical terms, opening a U.S. business bank account online from abroad is not only possible but increasingly common. The key is choosing a bank that supports remote onboarding for non-residents and ensuring that all required documentation is accurate, consistent, and aligned with U.S. compliance requirements. When these conditions are met, physical presence in the United States is no longer a barrier to accessing U.S. business banking.
Traditional banks vs fintechs for non-resident founders
When opening a U.S. business bank account as a non-resident, one of the most important decisions is choosing between a traditional U.S. bank and a fintech banking platform. While both options provide access to U.S. business banking, they differ significantly in terms of onboarding requirements, flexibility, and suitability for foreign-owned companies.
Traditional U.S. banks typically follow more rigid internal policies and risk controls. These institutions often prefer in-person verification and may require founders to visit a physical branch to complete the account opening process. Even when non-residents are allowed to apply, traditional banks tend to request more documentation, apply stricter address requirements, and conduct longer compliance reviews. This approach can make the process slower and less predictable for founders who operate from abroad, especially if they do not have an existing relationship with the bank.
Fintech banks, on the other hand, are built around digital-first workflows and are generally more accessible to non-resident founders. These platforms are designed to support remote onboarding and are accustomed to working with foreign-owned U.S. companies. Fintechs typically allow applications to be completed entirely online and rely on passport-based identification, EIN verification, and digital company documents. For many non-resident entrepreneurs, this results in a faster and more streamlined experience.
That said, fintech banks are not a universal solution. While they offer convenience and flexibility, they may have limitations related to cash handling, in-person services, or specific transaction types. Some fintech platforms also impose restrictions based on business activity, geographic exposure, or compliance risk profiles. As a result, not every non-resident business will qualify, even when documentation is complete.
Choosing between a traditional bank and a fintech ultimately depends on the nature of the business, the founder’s location, and operational needs. For non-resident founders who require remote access and minimal friction, fintech banks are often the most practical starting point. Traditional banks may still be suitable for businesses with a physical U.S. presence, higher transaction volumes, or long-term plans that benefit from branch-based services. Understanding these differences allows foreign founders to select the option that aligns best with their business model and compliance profile.
Traditional U.S. banks
Traditional U.S. banks are long-established financial institutions that offer a wide range of business banking services, including checking accounts, lending products, and in-branch support. For non-resident founders, these banks can provide stability and comprehensive financial infrastructure, but they are often more challenging to work with when opening an account from abroad.
Most traditional banks apply conservative risk policies when dealing with foreign-owned businesses. While non-residents are not legally prohibited from opening a U.S. business bank account, many traditional banks require an in-person visit to a local branch to complete identity verification. This requirement alone can be a significant obstacle for founders who do not travel frequently to the United States or operate entirely from overseas.
In addition to physical presence, traditional banks typically request extensive documentation. This may include detailed company formation records, operating agreements, proof of address, and clear explanations of the business model and source of funds. Compliance reviews tend to be more thorough and time-consuming, especially for businesses with international ownership or cross-border activity.
Another factor to consider is flexibility. Traditional banks often have stricter internal rules regarding acceptable address types, transaction patterns, and supported industries. Non-resident founders may encounter limitations when using virtual addresses or operating internationally, even when the business itself is fully compliant. As a result, account approvals can be less predictable compared to fintech alternatives.
Despite these challenges, traditional U.S. banks can still be a suitable option for certain non-resident businesses. Companies with a physical presence in the United States, higher transaction volumes, or long-term plans that require access to lending, cash services, or branch-based support may benefit from a traditional banking relationship. For foreign founders, the decision to use a traditional bank often depends on their ability to meet in-person requirements and navigate more rigid compliance processes.
Fintech banks
Fintech banks have become a popular alternative for non-resident founders looking to open a U.S. business bank account without being physically present in the United States. These digital-first financial platforms are designed to support remote onboarding and are generally more familiar with the needs of foreign-owned U.S. companies than traditional banks.
One of the main advantages of fintech banks is their fully online application process. Non-resident founders can typically submit company formation documents, EIN confirmation, and identity verification remotely, often using only a passport as proof of identity. This makes fintech banks particularly attractive for entrepreneurs operating from abroad who need a practical and time-efficient banking solution.
Fintech platforms also tend to offer modern banking tools that support international operations. These often include robust online dashboards, integrations with accounting and payment platforms, and simplified cross-border transactions. For many non-resident businesses, especially startups and digital companies, these features provide the flexibility needed to manage U.S. operations remotely.
However, fintech banks also have limitations that non-resident founders should be aware of. Some platforms restrict certain industries, transaction types, or geographic exposure due to internal risk policies. Others may offer limited cash handling, fewer in-person services, or constraints on international wire transfers. Approval decisions can also be influenced by the business model, ownership structure, and compliance profile of the company.
For non-resident founders, fintech banks are often the most accessible entry point into U.S. business banking. While they may not replace all the services offered by traditional banks, they provide a practical and compliant solution for managing U.S. business finances remotely, particularly when speed, flexibility, and online access are priorities.
Common mistakes that get non-residents rejected
Many non-resident founders are surprised when their U.S. business bank account application is rejected, even though opening an account is legally permitted. In most cases, rejections are not caused by residency status itself, but by avoidable mistakes related to documentation, compliance, or misunderstandings about how banks assess risk.
One of the most common issues is incomplete or inconsistent documentation. Banks carefully cross-check company formation records, EIN information, ownership details, and address data. If names, addresses, or entity details do not match exactly across documents, applications are often delayed or declined. Even small inconsistencies can raise compliance flags, particularly for foreign-owned businesses.
Another frequent mistake involves address setup. Many non-residents assume that any U.S. address will be accepted, but banks typically reject PO boxes and may scrutinize improperly configured virtual addresses. Confusion between registered addresses, operating addresses, and personal residential addresses can also lead to rejection when the information provided does not align with banking requirements.
Misunderstanding identification requirements is another common problem. Some applicants believe that not having a Social Security Number automatically disqualifies them and attempt to work around this by submitting incorrect or incomplete information. In reality, banks require transparent disclosure of beneficial owners and proper passport-based identification. Attempts to omit owners, provide partial information, or misrepresent control structures often result in immediate rejection.
Banks also pay close attention to the business model and source of funds. Applications that fail to clearly explain what the company does, how it generates revenue, or where initial funds originate may be flagged as high risk. This is especially true for international businesses, as banks must comply with strict Anti-Money Laundering regulations. Vague descriptions or missing context can create uncertainty that leads banks to decline the application.
Finally, choosing the wrong type of bank can significantly impact approval chances. Some traditional banks have internal policies that make them unsuitable for non-resident founders, regardless of how complete the documentation is. Applying to institutions that are not aligned with foreign-owned business profiles often leads to unnecessary rejections and delays.
Understanding these common pitfalls helps non-resident founders approach the account opening process with greater clarity. When documentation is accurate, ownership is transparent, and the right banking partner is selected, the likelihood of approval increases substantially.
How to set up an LLC as a non-resident
Business setup
Set up your business correctly for U.S. banking
Prepare your entity, address, and documents to meet U.S. banking requirements.
Tax ID
Get an EIN as a non-resident (no SSN required)
Obtain an EIN as a foreign founder and meet bank verification requirements.
Banking access
Open a U.S. business bank account as a non-resident
Access U.S. banking to receive payments and manage business finances.
Ongoing compliance
Keep your U.S. bank account compliant and active
Maintain compliance to avoid account restrictions or unexpected closures.
Frequently Asked Questions about US LLCs for nonresidents
Starting and running a US LLC as a non-resident often raises practical and legal questions. Below you’ll find clear answers to the most common concerns around ownership, taxes, residency, and compliance, so you can move forward with confidence and avoid costly mistakes.
Yes, a foreigner can open a U.S. business bank account without a Social Security Number, as long as the account is opened for a properly registered U.S. business. Banks rely on the company’s EIN and passport-based identification for non-resident owners. An SSN is not required when the business is correctly formed and ownership information is fully disclosed.
Yes, you can keep a U.S. business bank account even if you live outside the United States. Banks allow non-resident owners to maintain active accounts as long as the business remains compliant, required filings are completed, and account activity aligns with stated business operations. Living abroad alone is not a reason for account closure.
Yes, U.S. residency is not required to open a business bank account. Banks assess the eligibility of the business entity rather than the immigration or residency status of the owner. As long as the company is legally registered in the U.S. and compliance requirements are met, non-residents are allowed to open business accounts.
In many cases, no. Many fintech banks allow non-residents to open U.S. business bank accounts fully online from abroad. Some traditional banks may still require an in-person visit to complete identity verification, but this depends on the institution’s internal policies rather than a legal requirement.
Banks still require address information, but this does not have to be a personal U.S. residential address. A registered U.S. business address is typically required, along with proof of an operating or residential address, which can be outside the United States. When addresses are set up correctly and documented properly, lack of a U.S. residence is not a barrier.
Yes, non-U.S. citizens can open U.S. business bank accounts if they own or control a U.S.-registered company. Citizenship is not a determining factor. Banks focus on company legitimacy, compliance documentation, and transparent ownership rather than nationality.