[Help] - Does anyone have bank connections that might help me set up a bank account in the US from abroad?

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June 26, 2017

by a searcher from Harvard University - Harvard Business School in State of São Paulo, Brazil

Dear All,

Does anyone have bank connections that might help me set up a bank account in the US from abroad? I'm not US Citzen/resident and my search fund is based in Brazil, but I'm setting up  a Delaware LLC that owns a Brazilian LLC-like company to accommodate investors from different countries.

Thank you all for the help.

Best,

Oswaldo

 


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Reply by a searcher
from University of Calgary in 3553 31 St NW, Calgary, AB T2L 2K7, Canada
Oswaldo I would go to local international banks like Citibank or HSBC. Usually they would be able to help but you may need to open a Brazilian account as well. Can you open USD accounts in Brazil? Maybe you don't need a US based account. We are based in Canada and used a Delaware LLC for our fund but open a Canadian domiciled account that can receive US and CAD. I also know that some domestic banks (maybe Itau?) might have US branches. From my 13 years experience in the banking industry I know that opening US domiciled accounts for non US persons/companies can be challenging mostly due to Anti Money Laundering regulations. On the other hand, there are many ways to have US denominated accounts and some Latin American banks have branches in the US. I hope this helps....
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Reply by a searcher
from Harvard University in San Francisco, CA, USA
Hello Oswaldo, My experience was that I needed to be physically in person, a social security number (SSN) and a US physical adddress in order to open the bank account. The reason behind it was the change in bank regulation after the 9/11 attacks + anti money laundering, Carlos' approach.seems a good one. Barclays, Citibank or HSBC might be able to open an account for you in US. Here you can find a link with legit info on this issue and HSBC's US account for non-residents: https://transferwise.com/us/blog/how-to-open-a-bank-account-in-usa https://www.us.hsbc.com/1/2/home/personal-banking/global-banking/open-account Cheers, Pablo
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