How Much Does It Cost to Start a US LLC, Including EIN and Bank Account?

The total cost to start a US LLC, obtain an EIN, and open a US bank account for non-US residents typically ranges from $700 to $1,500, encompassing state filing fees, registered agent services, and professional assistance. This price point reflects the necessary services required to establish a compliant and operational US business without needing to travel to the United States.

Establishing a US Limited Liability Company (LLC) has become an attractive option for entrepreneurs worldwide due to its flexibility, credibility, and access to the US market. However, understanding the financial commitment involved, especially for non-US residents, is crucial. This comprehensive guide breaks down the various expenses you can expect in 2026.

Requirements for a Non-US Resident to Start a US LLC

Before diving into costs, it is essential to understand the fundamental requirements for a non-US resident to set up a US LLC, obtain an EIN, and open a bank account.

• Registered Agent: Every LLC in the US must have a registered agent with a physical address in the state of formation to receive legal and tax documents.
• US Address (for filings): While not physically present, your LLC will require a US mailing address for official correspondence.
• EIN (Employer Identification Number): This is a federal tax ID number issued by the IRS, essential for opening a business bank account and filing taxes. Non-US residents typically acquire an EIN using an ITIN or by faxing Form SS-4 directly to the IRS.
• Bank Account: A US business bank account is critical for separating business and personal finances and for processing payments from US customers.
• Passport: A valid passport is generally required for identity verification during the bank account opening process.
• Proof of Address: Many banks also require proof of your residential address outside the US.

Steps and Associated Costs

Here's a breakdown of the steps involved and their typical costs:

1. LLC Formation and State Filing Fees

This is the initial step, involving the official registration of your LLC with the chosen state.

• State Filing Fees: These vary significantly by state. Wyoming and New Mexico are popular choices for non-US residents due to their business-friendly environments and low annual fees. Expect to pay:
• Wyoming: Approximately $100-$150 for the initial filing and an annual report fee of $60-$100.
• New Mexico: Approximately $50-$60 for initial filing, with no annual report fee, making it very cost-effective in the long run.
• Professional LLC Formation Service Fee: Many non-US residents opt for a service like Thiqa LLC to handle the complexities of LLC formation. These services typically charge between $200 and $500 for preparing and filing the necessary documents, ensuring compliance, and providing a US mailing address.

2. Registered Agent Service

A registered agent is a legal requirement for every LLC.

• Annual Registered Agent Fee: This service typically costs $50-$150 annually. This fee covers the cost of having a physical address in the state of formation and forwarding legal notices.

3. Obtaining an EIN

An EIN is crucial for operating your business legally in the US.

• IRS Fee: There is no direct fee from the IRS for an EIN. However, the process for non-US residents without a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN) can be complex and time-consuming.
• EIN Application Assistance Fee: If you utilize a service to obtain the EIN on your behalf (which is highly recommended for non-US residents), this generally costs $100-$250. This fee covers the expedited preparation and submission of Form SS-4 to the IRS, often via fax, and follow-up until the EIN is issued.

4. Opening a US Business Bank Account

This is a critical step for accepting payments and managing business finances.

• Bank Fees: Most online-first banks popular with non-US residents (like Mercury) do not charge fees for opening an account or for basic transactions. However, some traditional banks may have monthly maintenance fees or minimum balance requirements.
• Bank Account Opening Assistance Fee: Services like Thiqa LLC often assist clients in navigating the bank account opening process, providing necessary documentation and guidance to ensure successful approval. This might be bundled into a larger service package or charged as an additional $150-$350, depending on the complexity and desired bank.

5. Payment Gateway Setup (Stripe, PayPal)

Essential for processing online payments.

• Platform Fees: Stripe and PayPal have transaction fees but generally do not charge for account setup. These fees are a percentage of each transaction.
• Setup Assistance: If you require help setting up these platforms, it might be included in a broader service package or cost an additional $50-$150.

Estimated Timeline

The timeline for these processes can vary:

• LLC Formation: 1-5 business days (expedited options available).
• EIN Acquisition: 2-4 weeks (if applying without an SSN/ITIN via fax with professional assistance). Can be longer if done independently.
• Bank Account Opening: 1-2 weeks after EIN is obtained and all documents are ready.
• Payment Gateway Setup: 1-3 business days.

Total estimated time: 4-8 weeks from start to finish with professional assistance.

Common Pitfalls and How to Avoid Them

• Incorrect State Selection: Choosing a state unsuitable for your business can lead to higher taxes or administrative burdens. Wyoming and New Mexico are generally excellent choices for non-US resident-owned LLCs.
• EIN Delays: The IRS process for non-US residents can be slow. Using a service that specializes in this can significantly reduce delays.
• Bank Account Rejection: Lack of proper documentation or failure to meet compliance requirements can lead to rejection. A reliable service can guide you through the requirements for banks like Mercury, which are friendly to non-US residents.
• Ignoring Compliance: Failing to maintain annual reports or registered agent services can lead to the dissolution of your LLC.

FAQs

Can I open a US LLC without traveling to the US?

Yes, absolutely. Services like Thiqa LLC specialize in helping non-US residents form US LLCs, get an EIN, and open bank accounts remotely without needing to travel.

What are the ongoing costs for a US LLC?

Ongoing costs typically include annual state filing fees (e.g., Wyoming's $60-$100), annual registered agent fees ($50-$150), and potential annual report fees, depending on the state. There are no federal annual fees for most LLCs.

Why are Wyoming and New Mexico popular states for non-US residents?

Wyoming offers strong privacy protections, no state income tax, and low annual fees. New Mexico also has no state income tax and, notably, does not require an annual report or fee, making it very low-cost to maintain.

Do I need a US address to open a bank account?

While your LLC needs a US mailing address, often provided by your formation service, you do not typically need to reside in the US to open an online-first business bank account with institutions like Mercury. Your foreign residential address is sufficient for most identity verification purposes. Our service at Thiqa LLC helps navigate this, ensuring you meet all requirements efficiently and effectively.