How to open USA bank account for offshore company

[Martin Everson]

Why? You don't need to provide your National Insurance number when you open a bank account in the UK, or your PPS number when you open a bank account in Ireland. In most normal countries, banks are not umbilically connected to the tax authorities.

If you are not from UK and want to open a bank account in UK you need to provide a TIN. You can't open an account in any AEOI/CRS country without providing a TIN if you are not resident there. The TIN provided within Tax residency self certification form is needed.

Not sure what you are talking about.

 

[globalconsultancy]

I totally agree. It is a recipe for disaster.

Someone remind me how the U.S is fighting terrorist financing and money laundering again.

FATCA, CRS and other inane laws were never about terrorist financing or money laundering. It's all about tax evasion. The US government couldn't care less about foreigners opening US accounts with foreign addresses that fall outside IRS jurisdiction. If they can't tax them, they don't care about them.

 

[Martin Everson]

Section 326 of the Patriot Act does not specifically require proof of address, only that the bank maintains records of the information used to verify the person's identity. It requires a bank to exercise reasonable efforts to ascertain the identity of each customer.

You missed what I wrote below Please read my posts properly...thx

Section 326 of the USA Patriot Act is actually not very concise. In fact hard proof of address may not be needed at all. It just needs the address given and and that could be verbally and then it comes down to each banks individual discretion on KYC on whether they feel they have sufficiently identified a client.

 

[globalconsultancy]

If you are not from UK and want to open a bank account in UK you need to provide a TIN. You can't open an account in any AEOI/CRS country without providing a TIN if you are not resident there. The TIN provided within Tax residency self certification form is needed.

Not sure what you are talking about.

Strictly speaking, if you're not resident in the UK, no UK bank will deal with you, period. Tax residency / self-certification is a very recent development - it's a CRS thing. The US is not a signatory and US banks don't have to ask for this information, just like UK or EU banks didn't ask before CRS.

 

[globalconsultancy]

You missed what I wrote below Please read my posts properly...thx

I respond to each post in order. Do you want me to skip ahead?

 

[Martin Everson]

Strictly speaking, if you're not resident in the UK, no UK bank will deal with you, period.

This is incorrect. Retail banks will not deal with you but Private banks will.

 

[Martin Everson]

I respond to each post in order. Do you want me to skip ahead?

Read all the existing posts first and then reply. Don't reply and then later read the next post I made....thx

 

[Martin Everson]

FATCA, CRS and other inane laws were never about terrorist financing or money laundering. It's all about tax evasion. The US government couldn't care less about foreigners opening US accounts with foreign addresses that fall outside IRS jurisdiction. If they can't tax them, they don't care about them.

No one claimed those laws were about terrorist financing or money laundering. Don't make stuff up and attribute it to people...lol. Not sure what you are trying to achieve by doing that.

 

[globalconsultancy]

We are getting slightly off track here. This post was about opening a US account as a non-resident visitor with a foreign passport and no SSN/ITIN. Bottom line, it's more than doable. I've done it (albeit not recently), I know people who have done it, and it's no big whoop.

 

[Nyep]

Bottom line, it's more than doable

Yes, as I and others have said here, it's super easy at almost any US bank. I have no idea how people claim to have failed to open accounts there. The only reason must be they haven't really tried.

 

[globalconsultancy]

No one claimed those laws were about terrorist financing or money laundering. Don't make stuff up and attribute it to people...lol. Not sure what you are trying to achieve by doing that.

I did not attribute anything to anyone, nor did I "make stuff up". My posts express my opinions and my opinions only. Not everything is about you, Mr Everson

 

[Martin Everson]

I did not attribute anything to anyone, nor did I "make stuff up". My posts express my opinions and my opinions only. Not everything is about you, Mr Everson

No offense taken