Questions and answers. 162 answers in one place.

In brief

A US company can be formed from Germany, Austria or Switzerland without residence and without travel. FIAON Global handles formation, EIN, ITIN, registered agent, address and the preparation of account and card applications at a fixed price. The institution decides on the account, the card and the limit; the company generally remains taxable where it is managed.

Formation, tax numbers, account and cards

What FIAON Global takes on — and where authorities and institutions make the decision.

• Can I form a US company without living in the US? Yes. To form an LLC or corporation you need neither residence nor citizenship in the US. The address required by law in the state is provided by the registered agent; we provide the business address and phone number.
• Do I have to travel to the US to form the company? No. Our team on the ground files and attends appointments; you sign digitally. Those who would like to experience the kick-off in person choose the Global VIP package — flights and hotel for the kick-off in Miami are included in its fixed price.
• LLC or corporation — which one suits me? For trading, services and building your own card history, the LLC is usually the simpler form. A corporation suits businesses that want to bring in investors or give shares to employees. Our partner tax adviser reviews this for your case before formation.
• How long does it take to form a US company? The company itself is usually in place after a few weeks. In our experience, support in the Global Structure package takes around eight weeks, because the EIN and ITIN depend on the US tax authority, which sets its own timelines.
• How much does it cost to form a US company with FIAON? The Global Structure package costs €2,499 one-off, including state fees, the registered agent, address and phone for the first year, and the fees of our partner lawyer, partner tax adviser and US CPA. From the second year, your company’s running costs apply; the breakdown is on the “Costs” page.
• Can a US company reduce my tax bill? No. If the company is managed from Germany, Austria or Switzerland, it is generally taxable there, and annual filing duties apply in the US on top. A US company is worthwhile for real business in the US and for building capital — not as a tax scheme. The capital is not tied to the US: your company can transfer funds to Europe or invest them in Europe — within the terms of the institution concerned. Our partner tax adviser clarifies with you in advance how transfers and investments are treated for tax purposes.
• Do I need a US Social Security number to get an EIN? No. Shareholders without a US tax number apply for the EIN in writing with Form SS-4. The IRS online procedure is only open to applicants with a US tax number.
• How much does the IRS charge for an EIN? Nothing. The IRS charges no fee for the EIN. At FIAON Global, preparation and filing are included in the fixed price of every package.
• What do I need an ITIN for? For personal tax obligations in the US — and so that a US issuer can assess you as a person if you give a personal guarantee for a business credit card. The IRS only issues the ITIN where there is a tax reason.
• Will I automatically get a credit card with an ITIN? No. The ITIN is a tax number. Whether an issuer issues a card, and with what limit, is decided by the issuer itself under its own rules.
• Do I have to send my passport to the US? No. A Certifying Acceptance Agent verifies your passport at an appointment and files the application. The original stays with you.
• How long does it take to get an ITIN? According to the IRS, about seven weeks; between mid-January and the end of April and for applications from abroad, nine to eleven weeks. FIAON cannot speed this up — we make sure the application is complete, because incomplete applications are the most common reason for delays.
• Can I open a US business bank account from Germany? Yes — for your US company. The requirements are a registered company, an EIN and complete documents. Whether an institution opens the account is its own decision.
• Do I have to travel to the US to open the account? Often not: many institutions open accounts online for shareholders abroad. If an institution requires an appointment, our team in Miami accompanies you.
• What documents do I need to open a US business bank account? Usually formation documents, EIN confirmation, operating agreement, passports, US business address and a clear description of the business. We compile them and check them for contradictions.
• Why does FIAON not name any banks? Because the institutions’ requirements change constantly and the right choice depends on your plans. We discuss which institutions currently come into question in the kick-off call.
• Does FIAON have access to my account? No. The account holder is your company. FIAON receives no power of attorney and never accepts money on your behalf.
• What will my credit limit be? That is decided by the issuer under its own rules. The capital range per package is your goal and sets the direction of our support — it is not a promise.
• Does the capital have to be spent in the US? No. The capital is not tied to the US: your company can transfer funds to Europe or invest them in Europe, for example in your existing business or in projects here. The institution concerned decides on the limit and its terms; our partner tax adviser clarifies with you in advance how transfers and investments are treated for tax purposes.
• Do I need collateral for the first business credit card? The first card usually requires no cash deposit, but a personal guarantee from the owner. The personal guarantee is the issuer’s security.
• Does FIAON arrange loans? No. FIAON is not a bank, does not lend and does not arrange loans. We plan the sequence, prepare applications and documents and support you; the institution makes the decision.
• What does “up to $1,000,000” mean for the Global VIP package? It is the upper limit of the capital range that this package supports — your goal, not a promise. The institution concerned decides on every limit.
• How long does it take to build up capital? In our experience: around eight weeks with Global Structure, three to five months with Global Banking, six months or longer with Global Capital. How quickly it goes is determined by the institutions and by whether you pay on time.
• Do I have to file Form 5472 if my LLC had no revenue? Yes. The obligation does not depend on revenue but on the company being owned by a foreign shareholder: it must report its transactions with that shareholder, and contributions at formation already count.
• What happens if I miss the Form 5472 deadline? The IRS can impose a penalty of US$25,000 per form per year, with further amounts if the failure continues after a notice. That is why the deadline is in the compliance calendar and our US CPA prepares the first filing.
• Who prepares the annual US filing? In the first year, our US CPA — the fee is included in the fixed price. From the second year, the annual care plan takes this over for €699 a year, all fees included.
• Do I have to report the US company to my tax office? In Germany, yes: under section 138 of the German Fiscal Code (AO), together with the tax return. Austria and Switzerland have their own rules; our partner tax adviser tells you what they are before formation.
• What does a US company cost from the second year onwards? The state fee, the registered agent and the annual US filing. With the annual care plan we take care of all of this for €699 a year, all fees included; the individual amounts per state are on the “Costs” page.
• Whose travel is included in the Global VIP package? Flights and hotel for the kick-off are included for one person named by you. If further people would like to travel with you, we agree this with you separately in advance.
• Is this a package holiday? No. FIAON bears the cost of a business trip booked in your name. FIAON is not a tour operator and does not sell travel.
• When does the kick-off take place? Once payment has been received and as soon as the documents are complete. We agree travel dates, class of travel and hotel with you before anything is booked.
• What does the capital range of up to $1,000,000 mean? It is the upper limit of the capital range that this package supports — your goal, not a promise. The institution concerned decides on every limit. The capital is not tied to the US: your company can transfer funds to Europe or invest them in Europe — within the terms of the institution concerned. Our partner tax adviser clarifies with you in advance how transfers and investments are treated for tax purposes.
• Do I need to travel at all to form the company? No. Every formation with FIAON Global can also be handled entirely remotely. Global VIP is the choice for business owners who want to experience the build-up in person.

Prices, process and packages

What it costs, how long it takes, which package fits.

• How much does it cost to form an LLC in the US? The state charges $100 (Wyoming), $110 (Delaware) or $125 (Florida). On top of that come the registered agent, address, lawyer, tax adviser and US CPA. With FIAON Global all of this is included in the fixed price from €2,499.
• What are the running costs of a US LLC? Each year, you pay the state fee or tax ($60 to $400 depending on the state), the registered agent (market rate: usually $100 to $300 a year) and a US CPA for the IRS filing (market rate: about $700 to $2,000 a year).
• How much does an EIN or ITIN cost? The IRS charges nothing. If you apply for the ITIN through an acceptance agent, the market rate is about €150 to €400. With FIAON Global both applications are included in the fixed price.
• Are there any hidden costs? No. What the fixed price covers is set out in the contract. If you wish, the annual care plan covers your company’s running costs from the second year for €699 a year, all fees included; bookkeeping and the tax return in your home country are not part of the packages.
• Is VAT included in the fixed price? For companies, VAT is added to the prices where applicable. For private individuals, the fixed prices are final prices.
• Why is the fixed price higher than the state fee? Because it covers everyone who works on your company: registered agent, address, phone, lawyer, tax adviser, US CPA, the EIN and ITIN applications and the preparation of the account and card applications — coordinated by one contact.
• How long until my US company is up and running? Usually a few weeks once your documents are complete. The EIN and the ITIN are issued by the US tax authority on its own timeline.
• When does the work begin? When your payment is received. Your contact then gets in touch to arrange the kick-off call.
• How can I track the progress of my order? In “My order”: stage, next step, documents and compliance calendar — you are given access together with the contract and the invoice.
• What do I have to do myself? Upload five documents, make decisions and sign. You submit applications to issuers and banks yourself — fully prepared by us.
• Is the result binding? No. The package finder is a guide. Your contact checks in a call whether the package fits your case — or you order directly.
• Are my answers stored? No. The answers stay in your browser and are not transmitted to FIAON.
• Can I upgrade to a larger package later? Talk to your contact. A switch to a different package is agreed separately — with a new contract that states what has already been done.
• Is FIAON Global more expensive than a formation service? Yes, if you only need the company. In return, the fixed price from €2,499 includes the review by the tax adviser, the operating agreement by the lawyer, EIN, ITIN, the first US filing and the preparation of the account and card applications.
• Can I form the company myself and engage FIAON only for the account and cards? No. The packages begin with the formation, because account and card applications only succeed with documents that fit together from the start.
• Does FIAON name its competitors? No. The comparison describes the usual offering on the market, not individual providers.

Who it is for

SMEs, e-commerce, service providers, construction — and the rules in Germany and Switzerland.

• Can my GmbH own a US LLC or corporation? Yes. A GmbH, AG or holding company can be the shareholder of an LLC or corporation just as a natural person can. In that case we need the commercial register extract of the parent company.
• Is a US subsidiary taxed in the US? That depends on the legal form, the activity and the place of management. Our partner tax adviser reviews this before formation; your tax adviser handles the ongoing tax return.
• Does FIAON also handle visas for employees? No. Visas, payroll and transfer prices are not part of the packages. On request, we can name partners for these.
• How long does it take to set up a US subsidiary? The company is usually in place after a few weeks, once the documents are complete. The IRS issues the EIN on its own timeline.
• Do I need a US company to sell to US customers? Not necessarily. Many marketplaces, payment providers and logistics companies do, however, work more easily with a US company that has an EIN, a US account and a US address.
• Does my US company have to pay sales tax? That depends on the state and your sales there. The states levy their own sales taxes with their own thresholds; you check this with a US CPA.
• Is bookkeeping included? No. The packages include the first annual US filing by our US CPA, not ongoing bookkeeping.
• Does a US LLC lower my taxes? Generally not. If the company is managed from Germany, Austria or Switzerland, it is taxable there.
• Why do US clients ask for a US tax number? US companies ask suppliers for a tax number and a tax form (W-9 or W-8) because they report payments to the tax authority. With a US company of your own and an EIN, you can answer this request as a US business; our US CPA clarifies which form your company completes.
• Do I need a corporation for US investors? Generally yes. Investors in the US usually expect a corporation. We review the right choice before formation.
• Does FIAON review my client contracts? No. The packages include the operating agreement drafted by our partner lawyer. Client contracts are reviewed by a US lawyer under your own engagement.
• Do I need a separate company for each project? It is customary: one company per project separates liability and figures and makes financing and selling easier. Whether it suits your case is something we clarify in the kick-off call.
• Does FIAON finance my project? No. FIAON does not grant loans and does not arrange them. We prepare key figures and documents for financing discussions; the decision lies with the institution.
• Can your team attend appointments in the US for me? Yes. Our team in Miami attends appointments with authorities and institutions. In the Global VIP package you can travel there yourself for the kick-off if you wish.
• Can I form a US LLC as a German citizen? Yes, without residence and without citizenship in the US. You need a passport, proof of address and, if a company is to be the shareholder, its commercial register extract.
• Do I have to pay tax on my US LLC in Germany? Generally yes, if you manage it from Germany: its place of management is then in Germany (section 10 AO). Our partner tax adviser reviews your case before formation.
• How does the German tax office classify an LLC? By means of a Typenvergleich: depending on the operating agreement, like a corporation or like a partnership. That is why the classification is reviewed before the operating agreement is drafted.
• Can I form a US LLC as a Swiss entrepreneur? Yes, without residence in the US. You need a passport, proof of address and, if a company is to be the shareholder, its commercial register extract.
• Is my US company taxable in Switzerland? Generally yes, if it is in fact managed from Switzerland (Art. 50 DBG). Our partner tax adviser reviews your case before formation.
• Who is my contracting party? FIAON LTD in London. Schwarzott Capital Partners AG in Zurich and Schwarzott Global LLC in Miami are partners of FIAON Global.
• Can I form a US company as a private individual? Yes. You need neither a company of your own nor a residence in the US. You personally become the shareholder of the US company; the contract and invoice are issued in your name.
• Do I need a company to engage FIAON Global? No. When you order, you select “Private individual” and enter your name and address. No register extract or company details are needed.
• Do I have a right of withdrawal as a private individual? If you act as a consumer, yes — the statutory fourteen-day right of withdrawal from the conclusion of the contract. We begin before it expires only at your express request; in that case, if you withdraw, you pay a reasonable amount for what has already been provided.
• Does the fixed price also apply to private individuals? Yes, as a final price — for all four packages, from €2,499 for Global Structure, including all fees and partner fees for the package.
• Which packages can I choose as a private individual? All four: Global Structure for a clean start; Global Banking, Global Capital and Global VIP if you are planning the card ladder and, later, a bank loan.
• What does the company cost from the second year onwards? €699 a year with the annual care plan, all fees included — registered agent, US address and phone number, the annual US filing and the annual report to the state including the state fee. The plan does not renew automatically.
• Can I transfer the US company to my business later? In principle, yes. A transfer has tax consequences in both countries; please check this with your tax adviser beforehand.
• Do I have to travel to the US? As a rule, no. Our team on the ground in Miami files the documents and attends appointments; you sign digitally. If you would like to experience the set-up in person, choose Global VIP — flights and hotel for the kick-off in Miami are included in its fixed price.
• Which documents do I need as a private individual? Your passport, proof of address, three variants of the name you want for the company and a short description of the planned activity.

Tax, states and legal forms

The fundamentals, explained honestly.

• How much does a Florida LLC cost? Formation costs $125, and the annual report costs $138.75 a year. With FIAON Global, formation and the first year are included in the fixed price from €2,499.
• When is the Florida annual report due? Between 1 January and 1 May, starting in the year after formation. After 1 May, a late fee of $400 is added.
• Does a Florida LLC pay corporate income tax? An LLC that is disregarded for tax purposes does not file its own Florida return. If it is owned by a corporation such as a GmbH, the owner files a Florida return; corporations pay 5.5% with a $50,000 exemption.
• Do I need a Florida address for my LLC? The company needs a registered agent with an address in Florida. We provide the registered agent in the first year, as well as the business address.
• How much does a Delaware LLC cost? Formation costs $110, and the annual tax is $400 — from tax year 2026, due on 1 June of the following year. Before that it was $300.
• Why do so many companies incorporate in Delaware? Because of its corporate law: dedicated courts for corporate disputes, a long-established body of case law and investors who know it. This matters above all for corporations with investors.
• Does Delaware make sense for a small LLC? Rarely. For an LLC without plans to bring in investors, the annual tax is a cost that brings nothing in return; Florida or Wyoming are often a better fit.
• Does a Delaware company have to register in other states? If it does business in another state, generally yes — with separate fees there.
• How much does a Wyoming LLC cost? Formation costs $100; each year, the annual report costs at least $60 in License Tax. With FIAON Global, formation and the first year are included in the fixed price from €2,499.
• Does a Wyoming LLC pay any tax? Wyoming levies no corporate income tax and no state income tax. However, the company is taxable where it is managed — for entrepreneurs from Germany, Austria or Switzerland, usually in their home country.
• When is the Wyoming annual report due? On the first day of the month in which the company was formed. If the report is more than sixty days overdue, the state may dissolve the company.
• Is Wyoming better than Delaware? For an LLC without investors, Wyoming is usually cheaper to maintain. For a corporation with plans to bring in investors, Delaware is the standard.
• Is a Wyoming LLC “tax-free”? Wyoming levies no corporate income tax of its own. However, the company is taxable where it is managed — for business owners from Germany, Austria or Switzerland, that is generally at home.
• Why do so many providers advertise a “tax-free” LLC? Because an LLC with a foreign shareholder often pays no federal tax in the US. That is true for the US, but it says nothing about tax liability in the home country — and that depends on the place of management.
• So what is a US company actually good for? For genuine business in the US — contracts with US customers, a US account, payments in US dollars, separate liability, a card history of its own — and for building capital. The capital is not tied to the US: your company can transfer funds to Europe or invest them in Europe — within the terms of the institution concerned. Our partner tax adviser clarifies with you in advance how transfers and investments are treated for tax purposes.
• What is the difference between an LLC and a corporation? Both limit liability. The LLC is more flexible and, with a foreign shareholder, usually not a separate taxable entity in the US; the corporation is a separate taxable entity (federal 21%) and the standard for investors.
• Which legal form do I need for US investors? Generally a corporation, often in Delaware. Investors in the US know this form and expect it.
• Can I convert an LLC into a corporation later? Yes, but with effort: fees, new documents and a tax review in both countries.
• Is an LLC the same as a GmbH? Not quite. Both limit liability, but the LLC needs neither a notary nor minimum capital, and its constitution — the operating agreement — can be drafted freely.
• Can my GmbH form a US LLC? Yes. The GmbH becomes the shareholder of the LLC. We then need the GmbH’s commercial register extract and the passports of its managing directors.
• Does an LLC pay less tax than a GmbH? As a rule, no. Both are taxable where they are managed; the LLC also brings reporting duties in the US with it.
• Who has to file Form 5472? A US company with a foreign shareholder — including an LLC that is not a separate taxable entity for tax purposes. It files Form 5472 with a pro forma Form 1120.
• Is Form 5472 required if my LLC made no sales? Yes, as soon as there were reportable transactions — and even the contribution on formation counts.
• Can I file Form 5472 electronically? Not for the pro forma Form 1120 with Form 5472. It is sent to the IRS by fax or post.
• What is the penalty for not filing Form 5472? The IRS can impose US$25,000 per form per year, and further amounts if the failure continues after a notice.
• Which state is best for an LLC? There is no best one, only the right one: Florida for business and appointments on the ground, Delaware for investors, Wyoming for low running costs.
• Why not simply choose the cheapest state? Because a company that is active in another state has to register there as well — and then pays twice.
• Does the state affect my tax at home? No. Tax liability in your home country depends on the place of management, not on the company’s registered office.
• How can I tell whether a US formation provider is reputable? By a contracting party with a registration number you can check, a fixed price with a schedule of services, clear mandatory notices and the absence of any commitments on tax, cards and credit.
• Is an LLC inherently dubious? No. The LLC is an ordinary legal form in the US. What decides whether a provider is reputable is how it works — not what legal form it has.
• How do I check FIAON’s registration number? At Companies House (England and Wales) under number 17318250. You will find Schwarzott Capital Partners AG in Zefix under CHE-102.119.428.
• As a German, can I set up an LLC in the United States? Yes. You can form an LLC entirely from Germany — without US residence, without travelling, without minimum capital and without US citizenship. What you need is a registered agent in the state of formation and the state fee.
• How much does it cost to form an LLC? The state fee is $100 in Wyoming, $110 in Delaware and $125 in Florida. On top of that come the registered agent, the operating agreement and, every year, the state fee and Form 5472. With FIAON Global, the first year is included in the fixed price, starting at €2,499.
• How long does it take to form an LLC? Registration with the state is usually quick online. The EIN (about four business days by fax, about four weeks by post), the ITIN and the account application take longer. With FIAON Global, support until the first account and card application typically takes around eight weeks.
• Do I need a US address for my LLC? The LLC needs a registered agent with an address in the state of formation. For the account and contracts it also needs a business address; for many institutions the agent’s address is not enough for this.
• Does a new LLC still have to file a BOI report? No, if it was formed in the US. Since 14 August 2026, US companies have been definitively exempt from BOI reporting; only foreign companies that register in a state still have to report.
• Can I get an EIN without an SSN? Yes. Without an SSN or ITIN, you apply for the EIN with Form SS-4 by fax, by post or — as an applicant from abroad — by phone. Only the online application requires an SSN or ITIN.
• How long does it take to get an EIN? About four business days by fax, about four weeks by post. By phone it is quickest, if all the details are to hand.
• Does it cost anything to get an EIN? Not at the IRS. Costs arise only if you engage someone — with FIAON Global, the EIN is included in the fixed price of every package.
• Do I need an ITIN to apply for an EIN? No. If the responsible party has neither an SSN nor an ITIN, line 7b of Form SS-4 says “foreign” or “N/A”.
• What if I have lost my EIN confirmation letter? The IRS confirms the number again on request (Letter 147C). Many institutions accept this confirmation in place of the original letter (CP 575).
• Do I need an ITIN for my LLC? Not for the company’s EIN. You need an ITIN personally if you have to file a tax return in the US or if one of the IRS exceptions applies.
• How long does an ITIN application take? About seven weeks; between mid-January and the end of April and for applications from abroad, nine to eleven weeks.
• Do I have to send my original passport to get an ITIN? Not necessarily. Instead of the original, a copy certified by the issuing authority will do, or a Certifying Acceptance Agent checks the passport and returns it immediately.
• Can I apply for an ITIN just for a credit card? No. The IRS issues ITINs only for tax purposes; the application needs a tax return or an exception. Some card issuers ask for the ITIN — they still decide on the card themselves.
• Does an ITIN expire? Yes, if it does not appear on any US tax return for three consecutive tax years — on 31 December of the third year. It is renewed with Form W-7.
• What is a registered agent? The point of contact that the law requires a US company to have in its state of formation: it accepts lawsuits and official documents and passes them on. Every state requires one.
• Can I be my own registered agent? Only if you live in the state of formation or have an office there that is staffed during business hours. For founders from Europe, a commercial agent is the norm.
• Can I use the registered agent’s address as my business address? Legally it is the agent’s address, not your place of business. Many institutions decline to open an account if this address is given as the business address; each institution decides for itself which address is sufficient.
• How much does a registered agent cost? The market rate is usually $100 to $300 a year. With FIAON Global, the agent, US business address and phone number are included in the fixed price for the first year, and after that in the annual care plan for €699 a year.
• What happens if my LLC has no registered agent? It loses its good standing with the state; if the defect persists, the state can dissolve it. Lawsuits may not reach you in time.
• Does my LLC have to file a tax return in the US? Yes, almost always. An LLC with one foreign shareholder files Form 5472 with a pro forma Form 1120 every year — even without revenue. With business in the US, further returns are added.
• Does my LLC pay tax in the US? A single-member LLC without business in the US usually pays no US federal tax on its profit. With income from business in the US, the shareholder becomes taxable there, to the extent that the agreement allows; a corporation pays 21% federal tax.
• When is my LLC’s US tax return due? Form 5472 with pro forma 1120 by 15 April, extendable to 15 October with Form 7004. Form 1065 for several shareholders by 15 March, Form 1040-NR without US wages by 15 June.
• Does my LLC have to file an FBAR for its European bank account? Yes, if the company’s accounts outside the US together exceed US$10,000 at any time during the year. It then files the FBAR with FinCEN, by 15 April, automatically extended to 15 October.
• Do I need an ITIN to file a US tax return? Anyone who files their own US return as an individual — Form 1040-NR, for example — needs an ITIN or SSN. For Form 5472, the company’s EIN is sufficient; for the shareholder, the IRS permits a reference number.
• Should my GmbH form an LLC or a corporation in the US? For sales and smaller ventures, the LLC is often sufficient: it separates liability but, without an election, is transparent for tax purposes. For investors, larger loans and profits that are meant to stay in the US, the corporation is usually the clearer form. The decision belongs before formation — reviewed by the tax adviser and the US CPA.
• What is the difference between a subsidiary and a branch in the US? The branch is the GmbH itself, doing business in the US — it is fully liable. The subsidiary is a separate US company with its own liability, its own tax and its own filings.
• What is the US withholding tax on dividends to a GmbH? Under the agreement, 5 per cent if the GmbH holds at least 10 per cent of the voting rights, otherwise 15 per cent. If it has held at least 80 per cent for twelve months and meets the conditions of the anti-abuse clause, no withholding tax is due.
• Does a branch in the US have to file a BOI report? Yes. Since August 2026, only companies formed in the US are exempt; a GmbH that registers in a state remains obliged to report as a foreign company.
• Do I have to report a US subsidiary to the German tax office? Yes. The formation or acquisition of an interest in a foreign company must be notified in Germany under section 138 of the German Fiscal Code (AO) — together with the tax return.
• Can I open a US bank account for my LLC without travelling to the US? Often, yes. Many institutions open accounts online for companies whose shareholders are abroad; some require an in-person appointment. Each institution sets which routes it offers.
• What documents do I need for a US business bank account? The formation document, the EIN confirmation, the operating agreement, the passports of all shareholders holding 25 per cent or more and of the controlling person, proof of address, a business description and proof of the source of the first deposit.
• Do I need an SSN or ITIN for my LLC’s bank account? The company needs its EIN. For shareholders without an SSN, the passport is sufficient for many institutions; some ask for an ITIN.
• Why was my US bank account application rejected? Usually because of an unclearly described business, contradictory information or an address the institution does not accept. Institutions often do not give their reasons — which is why a complete first application matters.
• Are deposits in a US business bank account insured? At an FDIC-insured institution, deposits are protected in the amount of US$250,000 per depositor, institution and ownership category. With financial platforms, protection depends on the partner bank.
• Does my SCHUFA record count in the US? No. US credit bureaus do not use SCHUFA data; your US credit history starts at zero — without any benefit from good entries, but also without any disadvantage from old ones.
• How do I get a US credit score without an SSN? Through the ITIN: in practice, credit bureaus keep personal files by SSN or ITIN. A first FICO Score can be generated once an account has existed for at least six months and has been reported in the last six months.
• How long does it take to build a US credit history? A first score comes after about six months. A robust history that supports larger limits grows over years — with on-time payments and few, planned applications.
• What credit utilisation should I aim for? As low as possible. Utilisation accounts for around 30 per cent of the FICO Score; what is reported is usually the balance on the statement date.
• Does a business credit card help my personal credit score? Each issuer decides for itself: some report business credit cards in the personal file, some only when payments are late, some not at all.
• What is a D-U-N-S Number? Dun & Bradstreet’s nine-digit identifier for businesses, assigned per location. It is free of charge and the basis for the PAYDEX and for your company’s file with Dun & Bradstreet.
• What is a good PAYDEX score? At 80 or above, the risk of late payment is considered low; from 50 to 79, medium; below 50, high.
• How long does it take to build business credit? A PAYDEX only exists once enough payment experiences have been reported — usually after a few months with several business partners. A history that holds up without a personal guarantee takes years.
• Do I need business credit for a business credit card? With young companies, issuers mainly check the owner’s personal history and require a personal guarantee from the owner. The company’s own history gains weight over the years.
• Can my LLC apply for a US business credit card? Yes. Whether a card is issued is decided by the issuer: with young companies it mainly checks the owner’s personal history in the US and requires the owner’s personal guarantee. Without an SSN or ITIN, the routes are narrow.
• Am I personally liable for my LLC’s business credit card? As a rule, yes. With young companies, almost all issuers require a personal guarantee from the owner; the LLC’s limited liability then does not apply.
• What happens when the introductory period without debit interest ends? It ends on a fixed date. After that, the issuer’s standard interest rate applies to the outstanding balance — for cards, usually a double-digit rate.
• Does US consumer protection apply to business credit cards? Only to a limited extent. For cards used for business purposes, the rules of Regulation Z that apply are mainly those on the issuance of the card and on liability for unauthorised use; the protections of the CARD Act, for example on interest rate increases, generally do not apply.
• How do I spot dubious business credit card providers? Watch for promised limits, fees as a percentage of the limit, “loans” that turn out to be card applications, many applications at once and contracts that prohibit reviews.
• Who is my contracting party at FIAON Global? FIAON LTD, 128 City Road, London, registered at Companies House (England and Wales) under number 17318250. Your contract is with this company, and it issues your invoice.
• What does Schwarzott Global LLC in Miami do? It is our team on the ground: it attends appointments with authorities and institutions, files documents, collects paperwork and hosts the kick-off of the Global VIP package.
• What does Schwarzott Capital Partners AG in Zurich do? It supports the capital stage with key figures and documents for financing discussions and is the contact for companies from Switzerland. It is an investment and holding company, not a bank.
• Are the partners independent of FIAON? No. Schwarzott Capital Partners AG and Schwarzott Global LLC are connected to FIAON through our founder Justin Schwarzott. We say so openly because it matters for your decision.