Opening a bank account as Non US citizen

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May 05, 2022

by a searcher in Chicago, IL, USA

Hi Searchers, I am wondering whether anyone has suggestions for opening a business bank account as a Non US citizen? I am from Spain and I am in the process of buying a business in Texas and am having difficulty opening a new bank account. The business I am purchasing has a bank account but I will need to open a separate account. Has anyone been through this challenge? Thank you.

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Reply by a searcher
from University of Pennsylvania in Toronto, ON, Canada
Many foreign banks will have a US subsidiary set up for this exact situation. For example, in Canada, RBC offers a US-based account to Canadians with a domestic account. Might be worth checking if any Spanish/EU banks have a similar setup (just make sure it is actually a US account and not a US dollar account).
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Reply by an investor
from University of Texas at Austin in Austin, TX, USA
For almost every bank you need either an Individual Taxpayer Identification Number (ITIN) or a Social Security Number (SSN). Depending on your situation you might be able to apply for an ITIN.
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