Setting Up Your US Business for an E-2 Visa: Company, EIN, and Bank Account
By Doğukan Ergüven, Founder Checked against primary sources
Preparing the visa file is one half of an E-2; the other half is actually standing up the US business: a company, an Employer Identification Number, and a bank account for the investment to flow through. For a foreign founder this can sound intimidating, but each step is done remotely by thousands of non-residents every year, often through the same services. This guide walks through forming the company, getting an EIN without a Social Security Number, and opening a US business bank account from abroad.
The three pieces, in order
Setting up the US side of an E-2 follows a natural sequence. First the company is formed in a US state. Then the company gets an Employer Identification Number (EIN) from the IRS. Then a business bank account is opened in the company's name, and the qualifying investment moves into it. The bank statements that result become part of the source-of-funds record the visa file relies on. Each piece can be handled from abroad.
Forming the US company
An E-2 business is usually a limited liability company (LLC) or a corporation, and for the E-2 it must be owned at least fifty percent by nationals of the treaty country, a point covered in the E-2 requirements guide. A non-resident can form the entity remotely: the company is registered with a US state and uses a registered agent at a US address. Formation services such as Stripe Atlas, Firstbase, Doola, and Clerky handle the filing and the registered agent, or the filing can be done directly with the state. The right structure depends on the business and the tax picture, which a CPA and an attorney can confirm.
Getting an EIN without an SSN
An EIN is the company's federal tax number, and it is needed to open a bank account, file taxes, and hire. The IRS online application asks for the Social Security Number or ITIN of the responsible party, which a foreign founder may not have. The route without one is Form SS-4 filed by fax or by mail: the form allows a foreign responsible party, and the application is processed without an SSN. Fax is the faster channel, often returning the EIN within a couple of weeks, while mail takes longer. Formation services frequently obtain the EIN as part of their package.
Opening a US business bank account from abroad
This is the step that used to be hardest. Traditional US banks usually expect the owner to appear in person and often ask for a Social Security Number, which makes remote opening difficult. Business-banking platforms changed that: services such as Mercury, Relay, and Brex open accounts for US companies owned by non-residents, remotely, using the formation documents, the EIN, and the owner's passport. Eligibility varies by platform and by the founder's country, so it is worth checking each one's current rules. Once the account is open, the investment funds move into it, and those records feed directly into the source-of-funds and substantial investment evidence.
How the setup connects to the visa file
The company, the EIN, and the bank account are not just operational chores; they are evidence. The E-2 turns on a real, active business and a substantial investment that is at risk. Formation documents show the business exists and who owns it. The bank account and its statements show the money is committed and moving through the business rather than sitting idle. Building these in a clean, documented sequence is what makes the source-of-funds story easy to follow at the interview.
What still takes hands-on work
Two parts are harder to do entirely at a distance. Buying or leasing the actual premises, signing a commercial lease, or acquiring an existing business usually involves a broker, due diligence, and sometimes a visit, the same way it would for any buyer. And a foreign-owned US company carries tax filing obligations, such as the Form 5472 information return for a foreign-owned LLC, where missing a deadline carries penalties; a CPA familiar with non-resident filings can confirm what applies. The visa preparation and the company setup are self-serviceable; the tax filings and the property deal are where local professional help is most useful. Deciding how much to take on is the same judgment covered in the without a lawyer guide.
Frequently asked questions
- Can a foreigner open a US LLC remotely?
- Yes. A non-resident can register a US LLC or corporation from abroad using a US state filing and a registered agent. Formation services such as Stripe Atlas, Firstbase, and Doola handle the paperwork, or it can be filed directly with the state.
- Can I get an EIN without a Social Security Number?
- Yes. The IRS online tool needs an SSN or ITIN, but a foreign founder can instead file Form SS-4 by fax or mail, which allows a foreign responsible party and is processed without an SSN. Fax usually returns the EIN within a couple of weeks.
- Can a non-resident open a US business bank account?
- Yes, through business-banking platforms such as Mercury, Relay, and Brex, which open accounts for non-resident-owned US companies remotely using the formation documents, the EIN, and a passport. Eligibility varies by platform and country, and traditional banks are harder without in-person presence.
- Do I need to be in the US to set up the business?
- Forming the company, getting the EIN, and opening a fintech business account can all be done from abroad. Acquiring or leasing the physical business and some tax filings are where being on the ground or hiring local help tends to matter.
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