I am NON-resident, never been to USA.
I want to start business in USA. I've called several banks and all of them require social security number to open business account. However one bank told me that I can open business account with ITIN.
I've read on IRS site that I need to file tax return so that I get ITIN. So I am asking here whether there is another way.
Can I get ITIN number for the purpose to open business bank account?
Can I file tax forms even though I do not have any taxes to pay to the IRS, just to get ITIN?
Based on some of the information in your question, I would recommend contacting a business attorney, in the state where you plan on operating your business, and forming a U. S. corporation. There are many types of corporations you could form, full corporation, Sub chapter S Corporation, Limited Liability Corporation (LLC), and a Limited Liability Limited Partnership (LLLP) just to name a few. Which would be best for you depends on many different factors.
There are numerous tax implications that need to be accounted for as well, including estate taxes. Many traditional CPAs don't fully understand the tax issues that may arise when a non-resident does business in the U.S., so be sure to work with a CPA that specializes in non-resident taxes. If you are considering operating in Florida or if you would like a referral for a CPA, not myself but one I work with, please call my office.
This answer is provided for informational purposes only, does not constitute legal advice, and does not create an attorney-client relationship. Florida Attorney practicing in areas of Estate Planning, Elder Law, Trusts, Probate, Guardianship, and Business Law. www.ferraezlucas.com The information provided is for educational purposes and not intended to provide legal advice or to create an attorney client relationship. Please contact me at [email protected] or call my office should you like to discuss your Florida legal matter further. Actual legal advice can only be provided after completing a comprehensive consultation in which all of the relevant facts are discussed and reviewed.
I would in general agree with the first answer. If you're starting a business in the US as a nonresident alien it is usually best to carry on that business through an entity such as a corporation or an LLC; which entity would be best for you would depend on a number of different factors, including, for example, your home country, whether a tax treaty exists with the US, what sort of business you will carry on, and the like. In addition, using an entity to conduct the business in the US may provide you some protection from liability for US taxes on your own personal income from the business.
Another factor in favor of using an entity is the ability to limit your personal liability for some business debts.
In addition, if you form an entity to carry on the US business, that entity would obtain an employer identification number which is the tax id number for businesses and entities.
I would agree also that you need an accountant or bookkeeper who is familiar with international business and tax matters; however, I would add that you should retain a tax attorney with experience in international tax matters to assist you in setting up your business structure.
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