US bank Account for foreigners, possible, thread continued.

[TVentures]

What is the difficulty with PayPal? What is wrong with getting a US bank acct. In the US there is no UBO problem that we have experienced. We have set up accounts with large banks and not disclosed the members. It was nice too because they issued cards without the signatories name.


So why not do that with a US entity. Being g a signatory is not a BO in The US. Then just get a PayPal account. You could even use a US entity that does not have names of BO or UBO listed public ally or in Gov records. Then transfer to your offshore accts

 

[JohnLocke]

What is the difficulty with PayPal? What is wrong with getting a US bank acct. In the US there is no UBO problem that we have experienced. We have set up accounts with large banks and not disclosed the members. It was nice too because they issued cards without the signatories name.

So what you are saying is that for instant people from Europe can open a bank account in the US without a SSN number? Or they can use your nominees and open a bank account in the USA and later open a PayPal account with your nominees?

 

[TVentures]

Yes people can open a US bank account without a SSN. US citizens can as well, but success is rare. The SSN program in the US is voluntary.

 

[JohnLocke]

Yes people can open a US bank account without a SSN. US citizens can as well, but success is rare. The SSN program in the US is voluntary.

Okay, can you let us know which bank would open an account for foreigners without SSN?

 

[TVentures]

Admin, do you know what your asking? To respond to such a detailed question in public goes against the grain of the business of asset management. Perhaps we should privately speak Admin...


There are major and small banks who are familiar with the process. The more inland and north you go the less familiar the banks are with the process. Depending on your knowledge and position, this can be an advantage or disadvantage. Individuals seeking to perform these processes on their own through due diligence, should become very familiar with the term "non-resident alien" within US banking law.

 

[JohnLocke]

I know what I'm asking about If there is something I'm not sure about or which I don't understand then I think there are many registered and unregistered users that are in a similar situation. I will have to split our conversation into 2 threads since we are totally off topic here. From your response it sounds like it is like a walk in the park or in other word you can simply go into a US bank, say I'm from Cyprus, and open a bank account and they will just open it as it is. No SSN required just some KYC and DD docs. This is not the truth and I'm well aware of it since I have been there and I have a few friend in within the FN in New York which are no US citizens but have a work permission so a bank account there.


With your reply you simply just confirm that fact is, you can't just get a US bank account just like that.

 

[JohnLocke]

US bank Account for foreigners, possible, thread continued.


This thread is part of a conversation where the question was about PayPal but where it turns into a question whether it is possible for foreigners to open a US bank account without SSN or not.

 

[TVentures]

Foreigners are not required to have an SSN. Even US citizens are not required to have a SSN. It is not advisable to use an offshore entity as the Customer at the bank. Get a US LLC with the offshore entity as sole member.


Admin, I could give you a bank which would have detailed information for foreign person and how to get a US bank account. Again, lack of familiarity occurs the further north one goes, and also the further inland one goes. Your guy in NY would most guaranteed not be aware of it. What your asking is for the bank to be revealed on a public forum. A simple truth is there are uneducated individuals in every situation. A link post of such kind could bring undue attention to the bank due to failed attempts by uneducated individuals firing from the hip.


If you are able to arrange a private conversation, I would be happy to point you to one of the banking locations.

 

[JohnLocke]

Foreigners are not required to have an SSN. Even US citizens are not required to have a SSN. It is not advisable to use an offshore entity as the Customer at the bank. Get a US LLC with the offshore entity as sole member.
Admin, I could give you a bank which would have detailed information for foreign person and how to get a US bank account. Again, lack of familiarity occurs the further north one goes, and also the further inland one goes. Your guy in NY would most guaranteed not be aware of it. What your asking is for the bank to be revealed on a public forum. A simple truth is there are uneducated individuals in every situation. A link post of such kind could bring undue attention to the bank due to failed attempts by uneducated individuals firing from the hip.


If you are able to arrange a private conversation, I would be happy to point you to one of the banking locations.

It is okay,no need to enter into further discussion about it. I read you and we are on the same pagethumbups