AMA on how we launched a bank! 1) Click Button. 2) Get a US Company + US Bank Account remotely from anywhere in the world. No SSN Required.
https://www.doola.com/banking
At doola, our mission is to empower anyone to turn their dream idea into their dream US business. To do that, you need a US Bank Account so we decided to launch a bank 🏦 🚀
AMA on how a 10-person team launched a bank in a few months or ask any q's you have on US banking/taxes!
Well done on getting there with just a 10 person team!
Incorporating in the US does seem like the most straightforward process for foreign founders. There are a bunch of startups ( firstbase / stripe) who're now doing this.
The only part that holds me back is the complicated mess that is US tax laws.
https://www.doola.com/blog/us-tax-filing-requirements-for-my-us-company
If a startup can solve for that, and simplify this to a few clicks for filing that would really be a game changer.
Hey, we handle tax filings as part of our solution!
That blog post helps walk through what is required for different types of entities / setup structures 😄
Pretty audacious. I like that:).
Thanks @ArkSzklar!
Wow!
Can residents of all countries sign up? How much time it takes from application to a working account? Do you let dropshippers and guys in "these" industries and what's your policy on that?
Hey yes support most countries globally but there are a few exceptions: Belarus, Burundi, Central African Republic, Cuba, Democratic Republic of the Congo, Iran, Iraq, Lebanon, Liberia, Libya, Nicaragua, North Korea, Russia, Somalia, South Sudan, Sudan, Syria, Venezuela, Yemen, and Zimbabwe.
Dropshippers can open an LLC with us as well!
Yeah if Russia wasn't in this rockstar list I'd say you're awesome :)
Most of these restrictions are determined at a federal level (by US as a whole) but things do change / when they do we will be letting folks know!
Another thing for folks reading as a reminder: you CAN be a citizen of one of these countries but you CANT be a resident. So as an example, you could have a passport from Iran but if you lived in India for example, you would be able to apply for the bank account.
Also feel free to schedule a 1:1 consultation here to get any questions you have about US banking, taxes and formation answered! https://www.doola.com/free-consultation
Just a little late seeing this, last week only I made a LLC with firstbase and they are very very slow to respond to queries etc..