The United States of America is one of the best tax havens in the world which is the ultimate irony. The United States does not tax interest on bank deposits held by foreigners, nor does it impose any reporting requirements with the exception of deposits held by Canadians.

The US also provides an inexpensive corporate vehicle that is tax free. It is the Limited Liability Corporation or LLC.

A Limited Liability Corporation is a fusion of two distinct business entities: a limited corporation and a partnership. An LLC is similar to a standard corporation in that it provides the protection of limited liability to its owners. What sets the LLC apart from other corporate forms is how it is taxed.

Standard corporations are taxed separately from their owners at corporate tax rates. LLCs are treated as partnerships for the purpose of taxation: income is not taxed at the business entity level at all. Instead LLC members are expected to pay tax on whatever share of the LLC's profit is distributed to them. As a consequence, foreign-owned and managed LLCs do not give rise to any US tax liability whatsoever.

US LLCs can be formed by persons of any nationality. One-person LLCs are possible. LLCs are available all over the United States, but Delaware, Wyoming, Florida, Oregon, Colorado and Nevada are the favoured states of non-Americans incorporating US LLCs. Delaware has perhaps the most flexible corporate regime of all the US states -- the state has made a business of incorporating companies since early in the 20th century.

LLC must maintain a registered office in the state of incorporation, it can be managed and conduct business anywhere in the world. It is sensible for an LLC to refrain from doing business with companies or individuals inside the United States if it is to maintain the benefit of non-existent US tax liability.

An LLC can open a bank account anywhere in the world with relative ease since its place of incorporation is the reputable United States.

US personal bank account
US corporate bank account for US registered companies
US offshore limited liability companies, LLC