Nevis LLC Bank Accounts
Several of my clients who formed Nevis LLCs have told me that they have had difficulty opening bank accounts in the name of their LLC. Different banks have different obstacles. Common bank demands include registering the Nevis LLC as a foreign entity with Florida's Division of Corporations and getting a tax identification number even though the IRS does not recognize a single member LLC for tax purposes. Some other clients told me that they have opened financial accounts for Nevis LLCs through their stock broker and that these financial firms are much more accommodating. I am going to ask other asset protection attorneys for their recommendations of Florida banks who accept Nevis LLC accounts. I will post recommendations at a future time. Bank recommendations from a blog reader will be appreciated.
If you find out....I would like to know. Detailed steps would be much appreciated.
"Some other clients told me that they have opened financial accounts for Nevis LLCs through their stock broker and that these financial firms are much more accommodating. I am going to ask other asset protection attorneys for their recommendations of Florida banks who accept Nevis LLC accounts. I will post recommendations at a future time. Bank recommendations from a blog reader will be appreciated."
Even though the IRS will treat a single member LLC as a "disregarded entity" it will still issue them EINs using the SS-4 form. They say you can get one for a bank account or state filing, or similar uses.