Complete guide on what is required to open a business bank account in United States 2023

Have you started a business in the United States and now you want to start making money from your products and services?

So, it’s time to open a US bank account as a Legal Entity and you are interested in knowing what is required to open a business bank account?

In general, the processes related to starting a business in the United States are very simple, when compared to Latin American countries. This simplicity is also visible in the company’s accounting process!

Unlike here, in the United States you will not issue invoices that verify the entry and exit of money from the company. The accounting of the company is done through the movement of the bank account.

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One of the mistakes frequently made by people who are just starting out is mixing personal finances with those of the company. This failure cannot occur in the United States, because the process of testing the financial movements of the company is practically impossible.

Therefore, opening an account in the United States is a process that must be done quickly!

But after all, what is required to open a business bank account in the United States?

Opening an account in American banks is a very simple process, both for legal entities and for natural persons. To open an account as a Legal Person in the United States, you need two forms of identification.

The first is to carry your valid passport and the second is a credit or debit card from another bank that contains your name. If you have a partner, you will need his documents as well.

Regarding the company documents, you will need the following documents: Company registration in the State, Letter with the EIN, Business Address in the United States and some banks require a residential address of one of the members or close people to the members.

• Company Registration & Business License

Before opening a business bank account, you must register your business with the State Department. In this text, which explains how to open a company in the United States, we share the detailed process of how to do it.

In short, for this you need to provide the state with the name of your company, a business address for it, the name of the owners and their respective addresses.

Some banks require that you also carry your Business License. This registration is made with the Post Office of the county in which your business is located.

To know for sure if you need to bring this document at the time of opening the account as a Legal Person, we suggest that you contact the financial institution directly.

• Business address (Virtual Office)

Another important document for you to open an business bank account as a Legal Person in the United States is a proof of business residence.

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It can be an account or correspondence that the state has sent you (it can be the response to the request to open your business).

• Tax Identification Number – Tax ID Number

Finally, you must also bring your EIN, which is the equivalent of the Brazilian CNPJ, the RUT in Colombia, the RIF in Venezuela for example. This process can be done with the help of companies specialized in starting a business in the United States.

Frequent doubts related to the account opening process in the United States.