How to setup parent and subsidiary business bank accounts?
Hi,
I have formed a holding/parent LLC company and a subsidiary/operating LLC company which is 100% owned by the holding/parent LLC. The idea is to buy rental property in the name of the subsidiary/operating LLC.
I was able to setup a business bank account for holding/parent LLC company, however when I tried to setup a bank account for the subsidiary/operating LLC company, it is asking for my information for the owner, SSN number etc. I tried to set up a CapitalOne Spark Business account. I called them and they said they cannot open a bank account in such a way that the owner of one bank account is another LLC entity (holding/parent), it has to be a person owning the account.
How do you open a bank account in this situation, which banks have you opened an account with the above setup?
Thanks in advance.
Saran