Three Important Issues for Foreign Companies Coming to the U.S.
Forming a corporation for a foreign client (see Foreign Companies: Form a New Corporation when You Come to the U.S.) is a lot like forming a corporation for a domestic client. Having gone through the process dozens of times, however, I realize that there are three important post-formation issues that foreign clients often need help addressing:
- Obtaining an Employer Identification Number if no principal officer has s U.S. social security number – This process is described in Foreign Company Alert: Obtaining an EIN may be your Biggest Challenge in the U.S.
- Opening a bank account if the client does not yet have personnel in the U.S. – This problem was largely resolved today when I confirmed with an accountant who has helped several of my foreign clients that, as part of his services, he can take a Vice President position that includes responsibility for opening a bank account.
- Obtaining a visa to work in the U.S. – Realistic visa options are discussed in Visa Basics for Foreign Entrepreneurs Coming to the U.S.
Once you form your corporation and take care of these three issues, you will be ready to conduct business in the U.S.
Related post: U.S. Merchant Accounts for Foreign Companies – A Problem
Dana H. Shultz, Attorney at Law +1 510 547-0545 dana [at] danashultz [dot] com
This blog does not provide legal advice and does not create an attorney-client relationship. If you need legal advice, please contact a lawyer directly.
Dana Shultz is a business-savvy lawyer located in Northern California's San Francisco Bay Area (in the East Bay, near Oakland) who has in-depth knowledge of law, business, technology, and the needs of startup and early-stage companies.
IF ACCOUNTANT OPENS BANK ACCOUNT,
Can he open an account for a company without having the authority to access it?
Can the foreign client personnel get authority to do transactions with this account?
If accountant needs to be authorized personnel to access the account (if this is rule to open an account for client) then it will be security issue.
Can you please elaborate on this?
The accountant must have access to the account – thus must be trusted. Other individuals may have access, too.