Entrepreneurship & Small Business

Opening a US corporation as a canadian

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  • Oct 21st, 2021 5:37 pm
[OP]
Member
Apr 20, 2011
385 posts
69 upvotes
Toronto

Opening a US corporation as a canadian

Can I open a US Corporation as a canadian, while living in Canada? I would also need a mailing address (for amazon) so that i can register there. Moreover, can I use this corporation to get EIN, Seller Certificate, US Bank Account (Chase Orbital), Stripe & PayPal?
10 replies
Deal Addict
Apr 13, 2005
1660 posts
1684 upvotes
Markham, ON
Yes, to all.
You can register a corp / LLC.
You will need an ITIN to get an EIN, some companies offer to get the EIN for an extra $200-$250 USD.
You can open a bank account with Mercury.
You can use a Registered Agent or Statutory Agent's mailing address.
Hi!
[OP]
Member
Apr 20, 2011
385 posts
69 upvotes
Toronto
mrtin905 wrote: Yes, to all.
You can register a corp / LLC.
You will need an ITIN to get an EIN, some companies offer to get the EIN for an extra $200-$250 USD.
You can open a bank account with Mercury.
You can use a Registered Agent or Statutory Agent's mailing address.
is there a way to open a bank account with chase? I need an online payment processor and chase orbital is the best one which suits my needs. regarding registered agents/statutory agents, how can i find a good one. a quick google searched showed a lot of them and it so happened that all of them were "ads". would prefer if i can get some recommendations
Deal Addict
Apr 13, 2005
1660 posts
1684 upvotes
Markham, ON
hyph3n wrote: is there a way to open a bank account with chase? I need an online payment processor and chase orbital is the best one which suits my needs. regarding registered agents/statutory agents, how can i find a good one. a quick google searched showed a lot of them and it so happened that all of them were "ads". would prefer if i can get some recommendations
What state are you planning to form your company?
Tbh, registered agents are all the same. They receive the mail on your behalf, scan it and upload it. You get an e-mail notification, and you can view the mail.
The only thing you need to watch out for is the hidden fees.

I'm not familiar with Chase for business tbh.

I opened my business account with my NY LLC with Citizens Bank (drove to a local Niagara Falls branch before COVID).
Hi!
[OP]
Member
Apr 20, 2011
385 posts
69 upvotes
Toronto
mrtin905 wrote: What state are you planning to form your company?
Tbh, registered agents are all the same. They receive the mail on your behalf, scan it and upload it. You get an e-mail notification, and you can view the mail.
The only thing you need to watch out for is the hidden fees.

I'm not familiar with Chase for business tbh.

I opened my business account with my NY LLC with Citizens Bank (drove to a local Niagara Falls branch before COVID).
Preferably Texas.
Member
Oct 29, 2015
390 posts
222 upvotes
mrtin905 wrote: What state are you planning to form your company?
Tbh, registered agents are all the same. They receive the mail on your behalf, scan it and upload it. You get an e-mail notification, and you can view the mail.
The only thing you need to watch out for is the hidden fees.

I'm not familiar with Chase for business tbh.

I opened my business account with my NY LLC with Citizens Bank (drove to a local Niagara Falls branch before COVID).
What are your tax implications? Why did you choose to open a US LLC instead of a canadian corp?
:D
Jr. Member
Feb 6, 2014
153 posts
97 upvotes
hyph3n wrote: Can I open a US Corporation as a canadian, while living in Canada? I would also need a mailing address (for amazon) so that i can register there. Moreover, can I use this corporation to get EIN, Seller Certificate, US Bank Account (Chase Orbital), Stripe & PayPal?
I recommend you don't do this.

Having a foreign corporation is a way for many Canadians to evade Canadian taxes. As such, CRA makes it difficult to have a foreign corporation.

There are information form to file T1134 I believe and as you don't get the CCPC status in Canada, taxes you pay woudn't be good.

Extra form you have to file is meant to be punitive. You need to find an accountant to do it. You need to have a really good reason and willing to pay $$$ to have US corporation if you want to to be fully compliant.
Deal Fanatic
Jan 21, 2018
7513 posts
8080 upvotes
Vancouver
Like others have said, it;s possible, but be sure of the reasons you want to do it. I've seen companies that did business in the U.S. as a Canadian company for decades without problems, and others that incorporated in the U.S. and regretted the expense and the hassle for little benefit. But there are some valid reasons.
Member
May 25, 2018
213 posts
43 upvotes
Instead of opening a new thread, I might well ask here....Stripe charges 2.9% for processing payments...can Google Pay do the same for free or for a lower %?
Deal Fanatic
Jan 21, 2018
7513 posts
8080 upvotes
Vancouver
Mrman123 wrote: Instead of opening a new thread, I might well ask here....Stripe charges 2.9% for processing payments...can Google Pay do the same for free or for a lower %?
Stripe charges 2.9% for payments made by a Canadian credit card in CAD if you are a Canadian company. They charge 3.5% for all other payments (e.g., any payments in USD or CAD from a U.S. or other international card), regardless of whether there's any currency conversion. It's a straightforward rip-off without justification, introduced last year.
Sr. Member
User avatar
Nov 23, 2014
538 posts
471 upvotes
Toronto, ON
hyph3n wrote: Can I open a US Corporation as a canadian, while living in Canada? I would also need a mailing address (for amazon) so that i can register there. Moreover, can I use this corporation to get EIN, Seller Certificate, US Bank Account (Chase Orbital), Stripe & PayPal?
Be there done that ..6 times
Can be done online

You dont need ITIN for EIN ..only if you want to apply online you need SSN or ITIN..or any third person with SSN/ITIN can apply for EIN on your behalf.There are many people on Fiverr who can do for $50 or you can just download SS4 and fax it.No SSN or ITIN required for offline/fax application

You can choose Wyoming ,Delaware or Nevada if it is online business..there is zero sales tax in those states .But corporate taxes apply which ever state you are incorporated

It costs $150 for incorporation and $25/yr to maintain registered address/mailing address in Wyoming and Nevada ..little more in Delaware

You can cross the border and open a business account..but few banks like Mercury, a online bank (mercury.com) can open you a business account with out being present in US..Cos it is designed for startups and non residents

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