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David Codamo
  • Los Angeles, CA
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Bank Recommendation when having an LLC in another state?

David Codamo
  • Los Angeles, CA
Posted Jan 25 2021, 08:38

I have seen a lot of real estate investors talking about setting up an LLC in Wyoming as holding company etc for the privacy and protection. My question is what banks are allowing you to open a business account in the state you reside in when your LLC is from another state? This is the problem that I have come across when wanting to open a business account with a national wide bank. They state that because LLC is from another state they can not open account. Is there a national wide bank that will do so? Or are you all having to create a Foreign LLC in your state in order to open business account for LLC not located in your state? I know investors are not traveling to Wyoming just to open an account. Thanks in advance!

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