How to open a company bank account in the US?

How to open a company bank account in the US?

Business
One of the first steps that foreign companies must take when launching their business in the US market is to open a bank account. This can be complicated when the company does not have employees residing in the country or does not have a permanent physical address, something that happens frequently at the beginning of an internationalization project and even in later phases. Many foreign-owned US companies are permanently managed by non-resident staff, with occasional support from a local representative.  The availability of a US bank account is of great importance for multiple reasons: It will make it easier to get local services and be paid for sales. For example, some online markets require the availability of a bank account in the US.It is an essential element when trying to…
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Important agreement between the US and several European countries to eliminate certain tariffs linked to the “Google tax”

Important agreement between the US and several European countries to eliminate certain tariffs linked to the “Google tax”

International Trade
On October 21, the United States signed an important agreement with Spain, Austria, France, Italy and the United Kingdom to eliminate certain taxes and tariffs, according to statement from the US Trade Representative.  The agreement comes after these countries agreed to join the global pact promoted by the Organization for Economic Cooperation and Development (OECD) to set a minimum global tax of 15% on the profits of companies with annual revenues of more than 750 million euros. Thanks to this agreement, the United States will not impose the tariffs on products from those countries that had been applied in retaliation for taxes applied in those countries on certain digital services, which some media have called the "Google tax". The US had announced at the beginning of June the imposition of an…
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Exporting remote services to the US: opportunities and challenges during COVID-19 times

Exporting remote services to the US: opportunities and challenges during COVID-19 times

Blog
By Gonzalo Garcia, Founder and CEO of Markentry USA CONTENTS IntroductionExporting services to the US: general considerations Opportunities created by COVID-19Barriers to entryEntry strategies for companiesEntry strategies for freelancersAdded value derived from the sale of services in the USConclusions 1. Introduction In 2019, the US imported a total of $588 billion in services (ref US Census). An important part of them can be provided remotely using information and communication technologies, such as financial services, insurance, research and development, consulting, engineering, training, design and sale of intellectual property.The USA is the largest importer of services in the world (10% of the global total, (ref CRS) and one of the most open developed economiesNew technologies, the high degree of openness of the American culture and economy, and the enormous facilities for the…
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