Foundry Property Group facilitates US bank account setup for international investors purchasing rental property in Texas and Florida. We know which institutions accept foreign-owned LLC accounts, what documentation they require, and how to get through compliance without delays. $750 standalone. Included for Foundry investors.
Every international investor who purchases US rental property needs a US bank account for their investment entity. This is the account where rental income is deposited by the property management company, where property expenses are paid, and where the investor receives net income distributions. Without a US account, the PM cannot efficiently collect and disburse funds.
The challenge for most overseas investors is that traditional US banks (the names you recognize) almost always require an in-person branch visit to open an account for a foreign-owned LLC. Their compliance departments are not set up for remote onboarding of non-resident entities, and many branch bankers have never processed the documentation for a foreign-owned LLC.
There is a second option: fintech banking institutions that support fully remote account opening for foreign-owned LLCs. These are FDIC-insured accounts with US routing and account numbers that work for receiving rent deposits, paying expenses, and wiring funds internationally. Not all of them are reliable. Several have tightened their compliance requirements in 2025 and 2026, rejecting applications they would have approved a year ago. Others have restrictions on the types of addresses they accept or the countries they serve.
Foundry knows which institutions are currently accepting foreign-owned LLC accounts, which ones support fully remote setup, what documentation format each one expects, and how to structure the application to avoid rejection. We have been through this process enough times to know where the friction points are and how to get around them. That is what the $750 covers.
The banking setup runs in parallel with your LLC formation and property acquisition.
Banks vary in their exact requirements, but these are the documents most institutions need for a foreign-owned LLC account.
| Document | Details |
|---|---|
| Articles of Organization | Filed and stamped by the state. Proves the LLC legally exists. |
| Operating Agreement | Defines the management structure and members of the LLC. |
| EIN Confirmation Letter | IRS-issued letter confirming the entity's tax identification number. |
| Passport | Valid passport for each member/manager of the LLC. Used for identity verification. |
| Proof of Foreign Address | Utility bill or bank statement dated within 90 days. Required for KYC compliance. |
| Initial Deposit | Most banks require a minimum opening deposit, typically $100 to $500. |
Foundry provides all entity documents as part of the LLC formation process. The investor provides personal identification and address verification. We compile the package and submit it to the bank in the format they expect.
Institution selection based on your country, entity type, and remote vs. in-person preference
Documentation package prepared in the format the selected institution requires
Application submission and KYC management through approval
Pivot to alternative institution if the first application is rejected
PM linked to the account for rent deposits once active
FIRPTA (Foreign Investment in Real Property Tax Act) is the federal law that governs tax withholding when a foreign person sells US real estate. Most investment companies do not mention FIRPTA until the investor is ready to sell, at which point the 15% withholding comes as a surprise. Foundry addresses it on day one.
FIRPTA does not apply when you buy. It applies when you sell. But understanding it at the point of purchase allows your CPA to plan for it, structure the transaction efficiently, and avoid unnecessary withholding when the time comes.
This 15% is not an additional tax. It is an advance payment toward your US income tax liability on the capital gain from the sale. It is remitted to the IRS by the buyer (or the title company on the buyer's behalf) at closing.
When you file your US tax return for the year of the sale, you report the actual gain and calculate the tax owed. If the amount withheld exceeds your actual tax liability, the IRS refunds the difference. If your gain is small or the property did not appreciate, the refund can be substantial.
Withholding certificates (IRS Form 8288-B) can reduce or eliminate FIRPTA withholding at closing if filed in advance. Your CPA handles this as part of the disposition planning.
Owning US rental property creates annual tax filing requirements. Here is what you need to know.
Filing a US tax return as a non-resident property owner is not complicated, but it does require a CPA who knows the rules. Most domestic CPAs are unfamiliar with Form 1040-NR, ITIN applications, FIRPTA withholding certificates, and the specific deductions available to foreign rental property owners.
Foundry maintains a referral network of CPAs who handle non-resident filings as a core part of their practice. These are not generalist accountants. They file 1040-NR returns for overseas property owners regularly and understand the mechanics of depreciation schedules, treaty benefits, and FIRPTA planning.
Foundry puts you in front of a CPA at the point of purchase, not at year-end when the filing deadline is approaching. This gives your CPA time to set up the ITIN application, establish the depreciation schedule, and plan for the full tax picture before the first year of ownership concludes.
CPA fees for non-resident tax filing typically range from $500 to $1,500 per year depending on complexity. This is a direct cost to the investor and is not included in Foundry's service fees.
Common questions from international investors about US banking and tax obligations.
Understanding the financial infrastructure is essential before investing. Foundry is available to walk you through the banking and tax landscape before you commit to anything.
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