LLC in USA for nonresident/ Non citizen for banking purpose

[atif 77]

I am from Pakistan. I want to operate on a small scale by selling some hand made pet supplies on a particular hand made niche platform. On my close observation i found out that the most people tend to use paypal to pay on that platform probably because they feel more secure. My problem is that i don't have access to this or even other services because the banking channels don't process these types of international payments. I have the following questions.

1.) Is it possible to register an LLC in say wyoming or some other state to incorporate as a business?
2.) Is it possible to get a real Bank Account for my business? That includes I want to get a visa/master debit card so i can pay my bills on that platform and also withdraw some money if i want.
3.) Is it possible to connect that Bank Account with a paypal and start ?
4.)How much tax do i have to file during 1 year.
5.) What will be required of me to get this job done ?

 

[Taxing Matters]

I am from Pakistan. I want to operate on a small scale by selling some hand made pet supplies on a particular hand made niche platform. On my close observation i found out that the most people tend to use paypal to pay on that platform probably because they feel more secure. My problem is that i don't have access to this or even other services because the banking channels don't process these types of international payments. I have the following questions.

1.) Is it possible to register an LLC in say wyoming or some other state to incorporate as a business?

Yes, you can do that. The U.S. does not (for the most part) restrict ownership of business entities to only U.S. citizens.

2.) Is it possible to get a real Bank Account for my business? That includes I want to get a visa/master debit card so i can pay my bills on that platform and also withdraw some money if i want.

That depends on the individual bank requirements for accounts. U.S. law does not prevent you from opening an account with a U.S. bank.

3.) Is it possible to connect that Bank Account with a paypal and start ?

Again, that depends on the policies of the bank and the policies of Pay Pal.

4.)How much tax do i have to file during 1 year.

That depends on how you set up the business and whether you conduct any business in the U.S. IRS publication 519 is a useful place to start to learn about that. Note that if the U.S. LLC is treated as a corporation it will have to file a tax return will potentially have tax to pay regardless of whether you conduct any actual business in the U.S. You may want the LLC to be disregarded for U.S. federal tax purposes instead.

5.) What will be required of me to get this job done ?

Consult a lawyer in Pakistan familiar with U.S. business law or a U.S. business law attorney to help you get started. [/QUOTE]

 

[atif 77]

2.) Is it possible to get a real Bank Account for my business? That includes I want to get a visa/master debit card so i can pay my bills on that platform and also withdraw some money if i want.

That depends on the individual bank requirements for accounts. U.S. law does not prevent you from opening an account with a U.S. bank.

Where can i find a banker who can advice me on this matter. As i contacted a few banks, they werent that helpful. Is there any such community where i can pick up the issue? As far as i know, its know your customer requirement which means customer must come to the bank and represent his documents like passport. I already had an offer from an agency that they can open my bank account. I just want a confirmation of this from another source so that i am sure its not anything illegal.

 

[quincy]

That depends on the individual bank requirements for accounts. U.S. law does not prevent you from opening an account with a U.S. bank.

Where can i find a banker who can advice me on this matter. As i contacted a few banks, they werent that helpful. Is there any such community where i can pick up the issue? As far as i know, its know your customer requirement which means customer must come to the bank and represent his documents like passport. I already had an offer from an agency that they can open my bank account. I just want a confirmation of this from another source so that i am sure its not anything illegal.

Consult with a lawyer in Pakistan. There are several international law firms in your country with US attorneys who can assist you in setting up your business.

 

[Taxing Matters]

Where can i find a banker who can advice me on this matter. As i contacted a few banks, they werent that helpful.

Perhaps you can get help on that from a bank in Pakistan. They may know about banks in the U.S. that could assist you. If there are U.S. related banks in Pakistan, they might help you set up an account with their American counterparts, for example.

 

[quincy]

The bottom line is that the help you need can be found in Pakistan.