Ultimate Guide to Registering a U.S. Company and Opening a Bank Account Are You Ready?

A Comprehensive Guide to Registering a Company and Opening a Bank Account in the U.S. - Are You Ready?

In today’s increasingly globalized world, more and more entrepreneurs, small business owners, and investors are setting their sights on the U.S. market. As one of the world’s largest economies, the United States offers a mature business environment, a robust legal framework, and a relatively transparent and fair competitive platform for foreign investors. However, to establish a foothold in such a highly developed market, the first step is to complete company registration and open a bank account.

This article provides a comprehensive guide to registering a company and opening a bank account in the U.S., helping you take that crucial first step toward entering the American market.

1. Company Registration in the U.S. Choosing the Right Business Structure

When registering a company in the U.S., it’s essential to first decide on the appropriate business structure. Common options include

1. Limited Liability Company LLC This is the most popular choice for startups and small businesses. It offers flexibility, simple tax treatment, and protects the personal assets of its owners.

2. C Corporation C Corp Suitable for companies planning to raise capital or go public in the U.S. C Corps can issue unlimited shares but are subject to double taxation-both at the corporate level and on shareholder dividends.

3. S Corporation S Corp Ideal for small businesses, avoiding double taxation. However, there are strict limits on the number and nationality of shareholders.

4. Partnership Suitable for businesses operated by two or more partners.

5. Sole Proprietorship Easy to set up, but offers no separation between personal and business assets, which increases risk.

For non-U.S. residents, LLCs and C Corporations are the most common choices. In particular, LLCs offer clear advantages in terms of tax flexibility and asset protection.

2. Step-by-Step Guide to Company Registration

1. Choose a State for Registration

Each U.S. state has different regulations, tax policies, and operating costs. Popular choices include

Delaware Known for being business-friendly, with a mature legal system. Many large corporations are registered here.

Nevada Offers no corporate or personal income tax and strong privacy protections.

California A vibrant market with high taxes, best suited for companies planning to operate locally.

When choosing a state, consider factors such as where your business will operate, local tax policies, and operational costs.

2. Check and Register Your Company Name

After choosing a state, check the availability of your desired company name via the state’s official website. Once confirmed, you can file the registration documents-typically called the Articles of Organization for LLCs or Articles of Incorporation for corporations.

3. Appoint a Registered Agent

U.S. law requires all registered companies to have a registered agent who is responsible for receiving legal documents and official notices. The agent must be a resident of the state or have a physical office address in that state.

4. Apply for an EIN Employer Identification Number

An EIN is a unique identifier for your U.S. company, similar to China’s Unified Social Credit Code. Even if you don’t have employees, it’s highly recommended to obtain an EIN to open a bank account and file taxes. You can apply for an EIN online via the IRS website, and non-U.S. residents are eligible to apply.

3. Opening a Bank Account Key Steps and Considerations

Once your company is registered, the next critical step is to open a bank account. This is essential for daily operations, receiving and making payments, and filing taxes.

1. Choosing the Right Bank

Major U.S. banks include Citibank, Bank of America, and JPMorgan Chase. Smaller banks and online banks like Axos Bank also offer services tailored for startups.

When selecting a bank, consider the following

Does it support accounts for non-U.S. residents?

What are the monthly or annual account fees?

Is remote account opening available e.g., via video call or power of attorney?

Does it offer multilingual services?

Does it support your business needs e.g., wire transfers, credit cards, POS systems?

2. Required Documents for Opening an Account

While requirements may vary slightly by bank, you’ll typically need

Company registration documents e.g., Articles of Organization

EIN number

Company operating agreement for LLCs

Identification documents of directors/shareholders e.g., passport, proof of address

Business license if applicable

Account opening authorization letter if opened by an agent

Some banks now allow non-U.S. residents to open accounts remotely via video conferencing. For example, Citibank and fintech platforms like Mercury and Ramp offer remote account opening services, making it easier for international entrepreneurs.

3. Choosing the Right Account Type

Business Checking Account For daily transactions, supports checks and debit cards.

Savings Account For holding reserves, typically offers low interest.

Business Credit Card Helps build business credit and streamline financial management.

Multi-Currency Account Ideal for companies with international operations, reduces currency conversion costs.

4. Recent Trends U.S. Fintech Empowering Overseas Entrepreneurs

Since 2025, with the rapid development of U.S. financial technology, more startups and overseas companies have successfully opened bank accounts through digital platforms. For example, Mercury, a U.S. fintech firm, has expanded its remote account opening services, allowing non-residents to complete the process via video verification.

Similarly, business financial platforms like Ramp now offer zero-annual-fee accounts and automated financial tools tailored for startups. At the same time, the U.S. Federal Reserve has been promoting financial inclusion policies to encourage more small and medium-sized enterprises to access the U.S. financial system. These trends have made it more convenient than ever for international entrepreneurs to set up companies in the U.S.

5. Tax and Compliance Considerations

Once your company is registered in the U.S., you must comply with local tax and regulatory requirements

Annual Report Most states require an annual report and associated fees.

Federal and State Tax Filings Depending on your company structure and location, you must file taxes with both the IRS and the state tax authority.

Accounting and Auditing It’s advisable to hire a professional accountant or use accounting software like QuickBooks for financial management and tax filing.

Non-U.S. residents should also review any tax treaties between the U.S. and their home country to avoid double taxation.

6. Conclusion

While registering a company and opening a bank account in the U.S. may seem complex, with proper preparation and the right choices in structure and banking partners, the process can be efficient and smooth. Thanks to the growth of U.S. fintech, remote account opening and digital financial management have become increasingly accessible.

Whether you’re looking to expand into international markets or explore overseas investment opportunities, the U.S. offers a compelling stage for growth. Are you ready to take the leap?