Are you looking to start you business soon in the USA and you dont have an SSN so this article will help you a lot.
We’re going to be talking about how to get your ITIN so that you can start your USA business like an LLC or a corporation, but you don’t have an SSN. We love this question.
We’ve answered a lot of other articles in different variations, so we’re excited to answer today. And this variation, the one big misconception that the non U.S. citizens, non residents have when it comes to starting their U.S. business is that, oh, I have to have my ITIN first.
Number one thing that we always hear where I have to have an ITIN first before I can start my U.S. business, which is completely false.
Start your ITIN application here: ITIN.com
How to Get Your ITIN to Start USA Business without SSN
There’s so many blogs and articles in all these guys on the Internet who are just blasting that out there like you have to have ITIN first to do this. This is so false.
It’s very very incorrect. That chronologically appropriate route to take when you want to start US businesses actually register the US business first, whether it’s an LLC, whether it’s a corporation or etc. You can do it without having SSN.
You can do without having an ITIN and in fact is actually strongly recommended to do so. So register your business first and then go ahead and get the EIN for the business. And then ultimately in turn, we can use those two documentations to help you get your ITIN.
And then once that’s done, now you have the three components to be able to help you open up that US business bank account, open up the merchant account and do a lot of other things.
How to Get ITIN for Non-US Citizens Without SSN
We always tell people that IITN and we said in other articles as well to that ITIN is a good everything, especially for the foreign entrepreneur. There’s a lot of foreign entrepreneurs that inquire to us about our service and they always say, well, why do I even need ITIN?
And they try and discuss, well, I don’t need that. And so why do you keep saying that? We do you for some business owners, you may not need it right away, but we can guarantee you at some point you’re going to have to have it, because, for example, people who start US corporations, they register you as a corporation like a C corp.
They say, well, I don’t need my ITIN and so I’m not going to apply for it. And We thought, OK, fine. And in the beginning they don’t require. But then when they want to go to open up the U.S. business bank out either initially when they’re trying to open the account, the bank is going to request ITIN or some time after they can’t open the bank for their reporting purposes is going to request ITIN.
And if you don’t provide in a timely fashion, the bank is going to close down the account at their discretion and take it a step further. If individuals are taking income from their corporations, then it’s different to file their taxes or personal taxes.
You know, they’re going to have to to get ITIN for that, like, for example, to they’re taking a dividend draw. They’re going nicer for that if they need to file taxes for that. So those are just two off the top of my head.
Start your ITIN application here: ITIN.com
And then obviously with if you want to get a merchant account, we always like to tell our clients that, yes, the ITIN need to open these merchant accounts. But also, keep in mind, it’s not the only thing these merchant companies like Stripe and PayPal, etc. they’re requesting ITIN And it’s one of the major components and requirements to open a merchant account.
But it’s not the only thing.
There’s a lot of other stuff they require as well, too. So please keep that in mind. But can you do this whole process of starting a US business? That’s right. And yes, and we specialize in this and we’d love to help you.
If you feel like you’re in that situation right now, you’re looking to start a US business. You don’t know how to go about it. You’re confused about how the process works.
What To Do Next
We hope this article help clarify that for you a little bit. And it kind of gives you hope and reassures you that you can, in fact, start your US business as a Non-US Citizens and as a non-resident alien. You can start it without having your SSN.
We’d love to help you. So please, if you’re in that situation, reach out to us. You can email us email@example.com if any questions or comments you guys can post them below.