| longr2512 | 01-28-2023 05:54 PM |
Re: Amazon US Deposits Foreign Banks?
I'm in Canada right now visiting family, but I'm opening these accounts with a HK passport with a US travel visa.
For those with Canadian-domiciled corporations, an option I found is to open a RBC cross-border business USD account. These accounts have ACH routing and functions as a US physical bank account. I'm not sure who RBC partners with, maybe they just RBC Georgia's routing numbers. This is great for Canadians who are tax residents of Canada, due to the small business tax rate up to $500,000 CAD here. Not good for me as a Hong Kong resident, due to dividend withholding of 15%. Also very steep costs at $175 CAD / month. But seems to be worth the price for Canadians operating US stealth Amazon accounts who's gross revenue is high enough to offset Amazon currency converter fees.
@rsot I'm not sure if Canadians are able to open BMO Harris Business accounts that easily. Checking their document checklist, I think a SSN is required. Not sure if BMO Canada is able to bypass this with an in-branch visit in Canada, or if a US physical address is needed. Will look further into this as well. | 
