If you are starting a new company in the state of Delaware you need to establish a bank account. But how can this be done if you are not a resident? The process is actually quite simple.
The most challenging aspect you will find is fathering all of the right documents and establishing the initial meeting, assuming a personal meeting is required.
There are a multitude of reasons why you should create a bank account for your new company. The first reason is that you need to maintain a registered agent in the state of Delaware (if you live elsewhere) who can act on your behalf and ensure your company remains in good standing with the state. Part of this costs money. You will need to pay annual fees to the state of Delaware to keep the new company in good standing. By opening a bank account in the United States (and the state of Delaware in particular) you can cover all of these fees and any new fees in a fast and efficient manner.
Bear in mind, that opening a U.S. bank account in Delaware is not required just because you formed the company in Delaware. You can open it in another state if you want, so long as you adhere to the right procedure.
The requirements for opening a bank account as a non-U.S. resident vary by bank branch, but in general they remain the same. It is recommended that you call the bank or email them ahead of time in order to get a complete list of their requirements. Overall they will all need the following:
- Articles of Incorporation (or your Articles of Formation) for the company
- Passport for the person who is opening the bank account
- Employer Identification Number
- Certificate of Good Standing
- Proof of U.S. physical address (this can be the address for the agent who is acting on your behalf or the signed office lease)
- Banking Resolution
If you want to open a new bank account you should set up an interview with the bank in question (it can be over the phone or via email if you cannot afford to fly to the country) and ask them the following:
1. Is it required that I come in person to the bank in order to open an account?
2. Am I required to bring a Certificate of Authority in order to prove that I am qualified for the state in which the branch is located?
3. Am I required to provide an address in the state of Delaware? Will proof of address be required? If so, what forms are acceptable?
4. What documents should I bring?
You should find out ahead of time if the bank requires a plain copy of your Articles of Incorporation or a certified copy. You should ask if they accept fax or email copies. With regard to your Operating Agreement you should ask the bank if they need a notarized copy.