How to open a business bank account before getting a green card?

Not having a green card does not, on its own, prevent opening a business bank account in the United States. Many investors and entrepreneurs, including those in the EB-5 context, go through this step before obtaining residency, and most banks are experienced in serving foreign clients.

In general, instead of a green card, the institution accepts other documents to verify identity and status, in addition to company records. Commonly requested items include:

• A valid identity document, such as a passport, and a visa when applicable.
• A tax identification number, such as an ITIN, when applicable.
• Company formation documents (for example, an LLC or Corporation) and the ownership structure.

Since requirements vary considerably from one bank to another, the safest approach is to contact the chosen institution directly and confirm the exact list before getting started. A well-organized account also helps the EB-5 investor document and demonstrate the movement of project funds.

Carry out each step in accordance with U.S. financial and immigration rules and, when in doubt, consult official guidance or a trusted professional.

About the author

Victoria Harper

Editor-in-Chief

Meet the author

As a journalist and lead editor at Visto n’ Visa, Victoria helps ensure that immigration topics are covered in a clear, trustworthy, and easy-to-understand way. Her focus is on delivering useful, human, and relevant content for people exploring new paths abroad.