9:30 this is a big deal most people want to have LLC just to accept payments online and they don't do any us operations, is there any solution for this?
That's a great point! If you're looking to set up an LLC mainly for accepting payments online without having any U.S. operations, there are definitely solutions available. One option is forming a U.S. LLC, which allows you to open a business bank account, like with Mercury, and start accepting payments. Even if you're not physically in the U.S., many platforms support international entrepreneurs, so you don't need a local presence to operate your business smoothly. It's important to ensure compliance with U.S. tax laws, but the process can be straightforward with the right guidance. If you still need help with this, you can book a free consultation with us here: bit.ly/3Zdckik
Thank you. I’m collaborating with a law firm on US for our company, and actually make big payments for their services. Does that count as US operations? Or do I need to have contractors or other things to qualify for US activity? I don’t hire on US as it’s expensive but if needed I may need to hire someone from US to keep the account open.
Hey there, while significant payments to a U.S. law firm can count as part of your U.S. operations, employing contractors or representatives may further solidify your presence and compliance within the market. If you foresee needing to hire locally to maintain your account or meet regulatory requirements, it would be prudent to consider that option seriously. If you still need help with this, you can book a free consultation with us here: bit.ly/3Zdckik
For the individual who are forming LLC from outside US, will doola also provide the US based physical address and phone number of the LLC that might be used to sign up for mercury account?
Hey there. We do provide the Registered Agent's address ≠ physical address. The RA address is simply used for receiving mail. When registering for a Mercury acc, you need to provide the company's legal address (this is the RA's) and a physical address (where business activities are mainly conducted from and can be an international address). If you insist on having a US physical address, we recommend Virtual Post Mail. For a phone number you can use OpenPhone. If you still need help with this, you can book a free consultation with us here: bit.ly/3Zdckik
@@doolaHQ Thank you for your clarification. By the way, after I form a LLC for the first year what is the renewal process of doola for the second year. Do I have to take the entire starter package or could I just opt for necessary services like RA and State filing?
Opening a business account with Bank of America as a non-U.S. resident is feasible, it requires careful preparation of documentation and an in-person visit to a branch.
@@hizarhayat6627 Bank of America typically requires an in-person visit to a branch to open a business account, even for non-U.S. residents. Since there isn’t a branch in the Republic of Ireland, you might want to explore other banks that offer remote account opening options or consider virtual bank services that cater to international business owners. If you still need help with this, you can book a free consultation with us here: bit.ly/3Zdckik
Hey there, for the transfer limits: Payoneer has a maximum transfer limit of $15,000 per transaction and allows for up to 30 withdrawals daily, with a limit of $5,000 per day. For SWIFT transfers, fees can vary, and processing may take several days. Mercury, on the other hand, offers free international wire transfers but charges a 1% foreign exchange fee. It's best to contact customer service for each company to get the most accurate and tailored information regarding your specific needs. 💛
@@erdemalidincer2820 Sorry to hear about the issues with your Mercury account! It sounds frustrating, especially after multiple applications. You might want to reach out to Mercury support directly to understand why the applications are being declined. In the meantime, Payoneer can still be a good alternative for transfers, and hopefully, you can get your Mercury account sorted soon.
Thank you for sharing your experience! Mercury Bank has specific requirements for account approval, which can sometimes lead to rejections, especially for non-US residents or business structures that may not fully meet their criteria. If you're a Belgian citizen with an LLC in Texas, it's worth double-checking that all your documents, including your EIN, operating agreement, and proof of your business activity, are up to date. Additionally, you could try reaching out to Mercury support for more clarification on why your application was denied. Some users have had success by addressing any gaps or providing additional information. Hope this helps, and good luck!
If your Mercury application was declined, the best course of action is to contact Mercury's support team directly to inquire about the specific reasons for the decline. If you need more help, you can also schedule a free consultation with doola to explore other business banking solutions that might be a better fit for you. Here's the link to do that: doola.com/free-consultation. Let me know if you need anything else! 👽
Hey there, in order to form an LLC you would always need to pay the state's required filing fee. If you still need help with this, you can book a free consultation with us here: bit.ly/3Zdckik
Unfortunately no, without an LLC or similar legal entity, you cannot open a Mercury account. If you are considering starting a business in the U.S., you would need to establish an LLC first to meet the requirements for opening a Mercury account. If you still need help with this, you can book a free consultation with us here: bit.ly/3Zdckik
