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How can foreign (Indian) company open a bank account in a bank in USA?

Jamaica, NY |

My company is a startup LLC company registered in India. We have some investors who will be investing some money in USD. We don’t have any operations in USA; our all operations are in India. I’m a USA citizen. I need to open a bank account of my company in USA so; I can deposit investment money in USA bank account and then transfer the money to our Indian bank account. May I please know how can I open an Indian company’s bank account in any USA banks? Thank You.

Attorney Answers 4


  1. It seems as if your question is more suited for a bank representative to answer. Talk to your local bank(s) about it and pick the best deal for your company.


  2. You should talk to some banks as previously suggested. You should also consider how to organize your companies and cash flow to minimize your tax liability.

    The statements and views expressed in this posting are my own and do not reflect those of my law firm, are intended for general informational purposes only, and do not constitute legal advice or legal opinion. This information is intended for informational purposes only and should not be relied upon without independent consultation and evaluation by an attorney. This information does not create an attorney-client relationship. Please consult an attorney if you have any questions about the subject matter of the information above.


  3. You may have trouble opening an account in a business name without a properly formed/registered US business. As my colleagues stated, the best source would be direct contact with the bank you want to use, especially if you already have an account there. I know that Citibank and JP Morgan Chase operate globally, including India, so you may want to open an account in India that you can access in the US. That seems to be the least restrictive avenue. You should talk to an accountant and/attorney about any of these actions before you do it, that way they can advise as to the best procedure. You will have to provide them with specifics on your business and the investors.
    Feel free to contact me if you need assistance.
    Good luck.

    All comments and/or opinions are for general information, and do not create an attorney-client relationship. In order to obtain a comprehensive and accurate legal opinion you should consult an attorney with the specific and detailed facts or your case/question.


  4. You cannot open a bank account for a foreign entity, unless in certain circumstances and for special investment purposes. Talking about an operating bank account, you need to set up a US company, obtain the federal tax identification number and then with the operating agreement you can open a bank account. Please retain an international firm. We have an Indian attorney in our team. Feel free to consult. Best.

    This reply is offered for educational purpose only. You should seek the advice of an attorney. The response given is not intended to create, nor does it create an ongoing duty to respond to questions. The response does not form an attorney-client relationship, nor is it intended to be anything other than an educated opinion of the author. It should not be relied upon as legal advice. The response given is based upon the limited facts provided by the undisclosed individual asking the question. To the extent additional or different facts exist, the response might possibly change. Attorney is licensed to practice law only in the State of New York. Responses are based solely on New York Law unless stated otherwise. Pursuant to Internal Revenue Service guidance, be advised that any federal tax advice contained in this written or electronic communication is not intended or written to be used and it cannot be used by any person or entity for the purpose of (i) avoiding any tax penalties that may be imposed by the Internal Revenue Service or any other U.S. Federal taxing authority or agency or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.

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