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How to Set Up an LLC Bank Account as a Foreigner

Setting up an LLC bank account as a foreigner might seem like a challenging task. However, with the right guidance and understanding of the process, it can be a straightforward and manageable task. This guide will walk you through the steps and provide you with the necessary information to successfully set up your LLC bank account.

Understanding LLC and Its Importance

Prior to embarking on the process of establishing an LLC bank account, it is crucial to grasp the fundamentals of what an LLC entails and its significance. An LLC, short for Limited Liability Company, is a business structure that merges the pass-through taxation feature of partnerships or sole proprietorships with the limited liability protection offered by corporations.

Setting up an LLC bank account is crucial for separating your personal assets from your business assets. This separation provides legal protection and makes it easier to manage your business finances. It also adds credibility to your business, making it more appealing to potential clients and investors.

Steps to Set Up an LLC Bank Account

This process may vary slightly depending on the bank and the state where you’re setting up the account.

Step 1: Form Your LLC

The first step is to form your LLC. This involves choosing a unique name for your business, filing the Articles of Organization with the Secretary of State in the state where you want to form your LLC, and paying the filing fee.

As a foreigner, you may need to hire a registered agent who will receive legal documents and official papers on behalf of your LLC.

Step 2: Obtain an EIN

Once you have set up your LLC, the subsequent action is to acquire an Employer Identification Number (EIN) from the Internal Revenue Service (IRS). This distinct nine-digit number is specifically assigned by the IRS to identify businesses for tax-related matters.

As a non-resident, you can acquire an EIN even if you don’t possess a Social Security Number (SSN). You have the option to apply for an EIN through online, fax, or mail methods. If you choose to apply via mail or fax, you will be required to complete Form SS-4.

Step 3: Open Your LLC Bank Account

Once you have your EIN, you can open your Mercury bank account for foreigners. You’ll need to provide the bank with your LLC’s EIN and a copy of the Articles of Organization. Some banks may also require a resolution authorizing the opening of the account, signed by the members of the LLC.

It’s important to note that as a foreigner, you may need to open the account in person. Some banks may also require additional documentation, such as a passport or other form of identification.

Choosing the Right Bank for Your LLC

Choosing the right bank for your LLC is a crucial step in the process. There are several factors to consider when choosing a bank, including the bank’s reputation, the services it offers, and the fees it charges.


It’s important to choose a bank with a good reputation. This not only ensures that your money is safe, but also that you’ll receive quality customer service. You can research a bank’s reputation by reading reviews online or asking for recommendations from other business owners.


The services offered by the bank should also be a consideration. Some banks offer services specifically tailored to small businesses, such as business credit cards, business loans, and merchant services. These services can be beneficial for growing and managing your business.


Lastly, consider the fees the bank charges. These can include monthly service fees, transaction fees, and ATM fees. Some banks waive these fees for small businesses, so it’s worth shopping around to find the best deal.


Setting up an LLC bank account as a foreigner may seem complicated, but with the right information and guidance, it’s a manageable task. By understanding what an LLC is, its benefits, and the steps to set up an LLC bank account, you can successfully navigate this process and set your business up for success.