How Foreign Real Estate Investors Can Open a U.S. Bank Account

Get on a plane and fly to the U.S. to open a bank account²? That seems excessive, but for many foreigners investing in U.S. real estate, it’s the harsh reality.

It doesn’t have to be. This article will show you why having a U.S. bank account² is essential if you're investing in U.S. rental property—and more importantly, how to open one remotely. If you’ve set up a U.S. entity like an LLC, it can make the process even smoother, helping you get a business bank account² to manage rental income and expenses in USD. Best of all, you can do it all without ever setting foot on a plane—with a little help from Waltz.

Key takeaways

• Foreign investors can open a U.S. business bank account², typically under an LLC with an EIN.
• A U.S. account makes it easier to receive rental income, pay expenses, and manage transactions in USD.
• With the right partner, you may be able to open an account remotely.

Why a U.S. bank account² matters for real estate investors abroad

Owning U.S. real estate doesn’t require a U.S. bank account², but operating without one can quickly become complicated. That’s especially true for foreign investors managing rental properties from overseas.

A dedicated U.S. business account allows you to centralize your income and expenses in one place. More importantly, it helps avoid delays, unnecessary fees, and foreign exchange friction that can eat into your returns.

Here’s why foreign investors choose to open a U.S. bank account²:

• Receive rent in U.S. dollars: Most tenants and property managers pay in USD. Without a U.S. bank account²bank account, you’re often stuck navigating expensive or slow international wire transfers to collect income.
  
  
• Pay U.S.-based expenses: From property taxes to insurance and repair bills, most vendors expect local payments. A U.S. bank account²makes these payments simple and trackable.
  
  
• Reduce foreign exchange risk: By holding funds in USD, you’re not converting back and forth with every transaction, which reduces exposure to volatile exchange rates.
  
  
• Simplify your accounting and tax prep: Keeping all rental income and expenses in a single account can make your bookkeeping cleaner and your CPA’s life easier, especially if you plan to grow your portfolio.
  
  

Learn more: The importance of having a U.S. bank account for non-U.S. citizens

General requirements for opening a U.S. bank account² as a non-resident

Opening a U.S. bank account² as a foreign national is entirely possible, especially when you’re doing so under a business entity like an LLC. But not all banks follow the same process, and requirements can vary depending on whether you're opening a personal or business account.

In most cases, personal accounts are more difficult to open remotely because they typically require U.S. residency or an in-person visit. For example, if you’re opening a personal account, you may be asked for a Social Security Number (SSN) or ITIN, plus a U.S. residential address. These additional hurdles make business accounts the go-to option for international real estate investors.

Here are the common requirements when opening a business bank account² in the U.S.:

• Valid passport: A government-issued ID from your country of residence is typically required to verify your identity.
  
  
• Proof of address: This can be a utility bill or bank statement showing either your foreign or U.S. address, depending on the bank’s policies.
  
  
• U.S. business entity documents: Most banks require documentation for your U.S. business entity, such as your LLC’s Operating Agreement, Certificate of Formation, and EIN letter from the IRS.
  
  
• Employer Identification Number (EIN): Think of this as the tax ID number for your business. You’ll need it to open most U.S. business bank accounts².
  
  
• U.S. phone number and email address: Some banks ask for local contact details to finalize onboarding.

Read more: Setting Up an LLC for Real Estate Investing

How to avoid common challenges

Even when you meet the technical requirements, opening a U.S. bank account² as a foreign investor can still feel like an uphill climb. Many banks are unfamiliar with non-resident rental property business owners, and the process often breaks down due to missing documents or miscommunication.

Let’s look at the most common friction points and how to get ahead of them.

Rejected applications due to missing U.S. ID or unclear business purpose

Some banks automatically decline applications if you don’t have a U.S. address, visa, or Social Security Number, even when they’re not required for business accounts. Others are simply unsure how to handle LLCs owned by non-residents.

To avoid this, it helps to work with a provider that understands foreign-owned entities and real estate use cases.

Delays from not having EIN or state formation documents

Timing matters, especially when you’re under contract for a property. One of the biggest slowdowns occurs when investors try to open a bank account² before their LLC or EIN is fully set up.

That’s why most investors handle the legal entity and banking setup at the same time, ideally in a bundled, guided flow.

Confusion over ITIN vs. EIN vs. SSN

This trips up a lot of new investors. If you’re opening a business account under an LLC, you don’t need an SSN or ITIN, just an EIN. It’s the EIN that functions as your business tax ID and gives banks what they need to proceed.

Remote banking: can it be done without traveling?

Traditionally, no. Many U.S. banks require applicants to appear in person at a branch to complete the process. For international investors, that means a costly flight and tight scheduling, not ideal when trying to move quickly on a deal.

Waltz makes it possible to get everything set up—no travel, no branch visit, no plane ticket required.

Our Investor Kit add-on is specifically designed for foreign nationals investing in U.S. real estate who value convenience. You’ll get a U.S. LLC, an EIN, a fully remote business checking account² (powered by Regent Bank), and even foreign exchange capabilities—within minutes. For global real estate investors, time and simplicity are critical. With the Waltz Investor Kit, you're equipped to launch your U.S. investment journey.
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Explore more: Waltz Investor Kit