Quick Guide to Setting Up an LLC and a US Bank Account

It’s common practice to purchase real estate properties in the US through an LLC due to the benefits it offers. Firstly, buying property under an LLC provides protection for the company and exemptions, meaning that if there are any issues, creditors can only go after the company’s assets and not your personal finances. However, for tax purposes, the LLC is treated as a partnership. Secondly, lenders usually don’t provide loans to foreigners who own properties directly, so they require the property to be held under an LLC as a condition for funding.

Typically, the LLC should be established in the market where you’re purchasing the property. Otherwise, you’ll need to register the company in a different state, even if you’re buying property in that state.

You can easily set up the LLC online through platforms like Incfile at a low cost, and you’ll typically receive the formation documents within a few days.

EIN number: After setting up the LLC, you’ll need to obtain an EIN number for it. This number is required to open a bank account, file tax returns, and register with utility companies if you’re managing the properties yourself.

The process usually takes about 8 weeks, and you can obtain the number with the help of a lawyer or CPA, or by submitting Form SS4 by fax to the tax authorities and following up by phone as necessary.

American bank account: Typically, opening an American bank account requires physically visiting the bank. We usually work with a virtual bank called Mercury, which has no fees and an easy-to-use interface. If you use the link provided, you’ll receive faster service, and if you transfer $10,000 or more to your account, we’ll both receive a $250 gift (it’s true!).


To open the account, you’ll need to provide your name, the EIN number, and the LLC name, and attach the necessary documents. Usually, within a day or two, you’ll have an account with a debit card option.

Best of luck! (-: