Delaware corporate banking services in 2021

Corporate banking services in DelawareHealy Consultants Group PLC will assist our Clients to open a corporate bank account in Delaware, United States of America. During the engagement, our Firm will i) contact multiple banking institutions to secure their confirmation of interest for our Client’s business; ii) organize a meeting at the branch office of the bank; and iii) prepare a quality corporate bank account opening application package for our Client’s review and signature.

Four weeks following engagement commencement, we will provide our Client with a corporate bank account number and if required, even assist activate internet banking on behalf of our Client.

  • Delaware corporate banking options

    • We recommend our foreign Clients open their business bank account in the USA with a bank with which they already have a bank account in another country. This will reduce i) time required to open the account and ii) the bank’s Know Your Client (KYC) requirements;
    • We recommend i) Citibank ii) Bank of America and iii) HSBC, as our Clients in the USA and elsewhere in the world have expressed their satisfaction with the services offered;
    • Alternatively, the following local Delaware/regional banks offer quality banking services: i) WSFS Bank and ii) Applied Bank. The list of all the valid banking license holders can be found on the regulator’s website;
    • A minimum deposit starting from US$1,500 is required for Delaware bank account setup. If the account fails to meet this monthly balance requirement, a fall-below fee is applied.
  • Main requirements to open a Delaware corporate bank account

    Before setting up a bank account in Delaware or in another State, our Clients should be aware that:

    • It is almost impossible to open a corporate bank account in the USA for a foreign company without registering a branch or a subsidiary in the country;
    • If the business is registered in a State other than Delaware, most banks will also require registration of a branch office in Delaware;
    • In Delaware, all banks require a face-to-face meeting with directors and signatories of the entity before approving the business bank account application for their Delaware companies. Travel is, therefore, usually required;
    • However, some US banks will not review the initial set of due diligence documents before our Client travels to the US. Instead, during the face-to-face meeting (above), all required documents will be presented by the directors and signatories;
    • Before the face-to-face meeting, the bank may ask our client to purchase a pre-paid SIM card for a US telephone number, to enable the bank to send security verification messages. If required, Healy Consultants Group will assist our client to purchase a SIM card before our Client’s arrival. Alternatively, our Client can purchase a US number via one TextPlus or Hushed;
    • To open a corporate bank account, it is necessary to obtain a tax identification number, issued by the IRS, for the business;
    • Other documents required include i) the corporate documents of the entity; and ii) passport copies and proof of address for all shareholders, UBOs, directors and bank signatories;
    • Some US banks may also require additional documents such as an Operating Agreement for our Client’s Delaware LLC. If required, Healy Consultants Group PLC can prepare a basic Operating Agreement for an additional fee of US$950 (our supplier fee is $590);
    • Banks will take three weeks, from receipt of bank signatory transfer forms, to generate a new online banking token.
  • Other services we provide

    • Healy Consultants Group PLC assists our Clients with obtaining corporate finance in Delaware in the form of a loan, overdraft or simply preferential credit terms;
    • USA banks will loan funds to finance investment projects in Delaware, if provided with sufficient information on the project’s feasibility and expected earnings. Documents requested include i) a well-prepared business-plan, inclusive of a feasibility study; ii) availability of collateral assets; iii) qualifications of business owners and management; iv) audited financial statements of last 3 years; and v) a detailed review of the project’s strength, weaknesses, opportunities and threats (SWOT matrix);
    • In addition to corporate finance, our in-house consultants may also provide our Clients with assistance to secure trade finances including i) bank guarantees; ii) letters of credit; iii) finance against trust receipt (for imported goods); and iv) document against payment and against acceptance.
    • See this webpage to understand our guaranteed multi-currency corporate bank account solutions
  • Exchange controls and other regulations

    • Both United States of America and Delaware do not implement foreign exchange controls;
    • The United States of America implements FATCA regulations, requiring the disclosure of the beneficial ownership of each corporate bank account opened in the USA.

Contact us

For additional information on our company registration services in Delaware, please contact our in-house country expert, Ms. Raka Banerjee, directly:
Consultant at HC - raka
  • Ms. Raka Banerjee
  • Senior Client Engagements Manager
  • Contact me!