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Home::Finance

U.S. Account For Non US Residents

Author : Makh
In early days Gold was considered the standard currency for exchange between the people of various nations. Gold used to act as a standard and everything was seen with respect to it. Over the years and with the emergence of US as a global power, both politically and economically, the US dollar has gained unprecedented importance in world trade. Though officially gold is still a standard, the US dollar is now accepted almost all over the world as a standard. For people who are in the business of where trade is across borders, the US dollar is the global standard. All freelancers and Web Developers and even exporters and importers who operate from various countries over the internet also need to keep a standard as far as the currency is considered and US dollar is the apt currency. A bank account with a US bank thus gains a lot of importance.



The US banking structure broadly classifies its customers into three categories:



1. The US citizens

2. Resident Aliens

3. Non Resident Aliens



As the names suggest the meanings of each of them is implied. The resident aliens are the non-US people who are residing in the US. These also sometimes include the people who have the Green Card. Non Resident Aliens, as the name suggests, are people who are neither citizens of the U.S nor are they residing in the U.S. The rules and regulations that govern the banking systems in US make it very difficult for the NRAÂ’s. Well, the NRAÂ’s are the most trouncing class, as they are treated most callously by the US banking laws. The laws put an austere procedure for NRAÂ’s willing to own a US account; though definitely itÂ’s not impossible for them as well.



So the question is what exactly are the benefits of a US account? Well here are a few:



1. First of all if you are in any sort of business that has even some amount of global appeal then you will probably, in the course of your trade, need to carry out transactions in the US dollars or any international currency. ItÂ’s great to go for a US account rather than in some other country because of the global acceptance of the US dollar.



2. And when I say global touch it includes all the deals that are carried out via the internet. So it includes all the web developer, content writers, freelancers etc. Even if your business is local, you canÂ’t possibly deny the power of the internet and it would just be a matter of time after you actually go on the internet. So itÂ’s actually to have a US account and take your business and ideas global.



3. Also if you are on the internet, there is a lot of possibility that you are dealing with US clients or people who are comfortable in dealing with US dollars. You having a US account would be a great advantage for you as it would make the entire process easier for you.



Earlier the laws very too strict, but now there are ways which make it possible for you to open a US account. These ways are still not a walk in the cake. One wrong move and you shall no longer be eligible for the account. But thatÂ’s not a big worry. There are guides which can help you with this. In fact I recently tried a guide myself http://www.non-us-bank-account.com and it really provided me a step-by-step formula for getting a US account opened. It was really nice and easy.



So what are you waiting for? Go ahead get yourself a US account and make your global presence more prominent.


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