Silicon Valley Bank Account Opening For Tech Startups
Since we facilitate company formation in all the US it’s important for every company to get a bank account because there are many banks out there offering business accounts, however, a few banks can do what Silicon Valley Bank can offer.
You can get a bank account with SVB in a matter of days without visiting them. Imagine you start out incorporating your tech startup in Delaware but you need a bank account. Very few banks offer bank accounts for businesses if they are not registered in their state. Usually, if you fly to Delaware to open your business bank account, the bank account will be opened the same day following the due diligence approval. Most of the investors or tech companies register in the state of Delaware, there is no surprise that more than three-quarters of Fortune 500 companies registered in this state. The Delaware SoS (Secretary of State) reported over 200,000 companies registered in 2016! This is a really high number! So there is a big benefit for registering in Delaware, however, this raises the question if, in addition, you should register in another state – this is for another blog post. If you operate in more than one state, have office or employee, you should register in the same state as well in which case you can open a bank account with a local bank.
The advantage is that SVB will not require you to visit them. They run their own KYC (Know Your Client) so you might be pretty much surprised that you might not meet the banker. All documents are signed over the DocuSign – electronically. But it is better to generate your own signature rather than using the DocuSign signature style. This will allow you to avoid meeting the banker in person.
SVB requirements:
- SVB requires you to register a US-based entity
- Must be in the tech industry (pharmaceutical, internet, hardware, IoT, etc.)
- Detailed business description
- Company documents: Articles of Association, EIN, Minutes of Initial Meeting of Directors Breakdown of Company Ownership (25% or greater) – you will need their mailing address, date of birth and social security number or government ID information (no need of physical documents, you will just upload them over their online onboarding system)
- Personal document: Driving license, Passport or National ID, The founder should have SSN (SSN is a big help if not National ID)
Fees: SVB Startup Solution does not have a monthly account fee for the first three years. It also waives the fees for Online Banking, Bill Pay, and Mobile Deposit. Additionally, you receive 2 domestic outgoing wires, 1 international FX outgoing wire, and 5 USD incoming wires at no cost.
Time/duration of bank account opening: 3-5 working daysIf you’re interested in opening a bank account for your Tech company, please e-mail me; I’m happy to introduce you, however, you need to be an Incparadise client and have a company registered with us. The bank will only accept tech companies. I know a few employees from SVB and they are all very helpful for legit business! If you’re not a legit business, please don’t contact me. I’m ONLY interested in tech businesses where the founders are serious and dedicated people to their endeavor.
17,376 responses to “Silicon Valley Bank Account Opening For Tech Startups”
Leave a Reply
You must be logged in to post a comment.
MB Removals
[…]below you will uncover the link to some web-sites that we believe you ought to visit[…]
Reliable movers
[…]we like to honor numerous other internet websites around the web, even though they aren稚 linked to us, by linking to them. Under are some webpages worth checking out[…]
Secure storage
[…]check below, are some absolutely unrelated web-sites to ours, on the other hand, they’re most trustworthy sources that we use[…]
Classic Books 500
[…]just beneath, are quite a few absolutely not connected web pages to ours, even so, they may be certainly really worth going over[…]
Speaker
[…]Here is a great Weblog You may Come across Interesting that we Encourage You[…]
çeşme transfer
çeşme transfer
Australia Porn Stars
[…]one of our visitors recently encouraged the following website[…]
Pupuk Organik terbaik dan terpercaya hanya melalui pupukanorganik.com
[…]always a large fan of linking to bloggers that I really like but really don’t get lots of link appreciate from[…]
Pupuk Organik terbaik dan terpercaya di pupukanorganik.com
[…]we came across a cool site which you may well take pleasure in. Take a appear in the event you want[…]
pupuk organik terbaik
[…]we came across a cool web site which you may take pleasure in. Take a appear should you want[…]
partners
[…]Sites of interest we have a link to[…]
Faculty of economics & political science
[…]Here is a great Blog You may Discover Interesting that we Encourage You[…]
biofit where to buy
[…]one of our guests recently advised the following website[…]
puradrop supplement
[…]one of our guests a short while ago proposed the following website[…]
izmir travesti
izmir travesti
FiverrEarn
[…]we like to honor many other net web-sites on the web, even if they aren稚 linked to us, by linking to them. Below are some webpages worth checking out[…]
FiverrEarn
[…]just beneath, are numerous absolutely not related sites to ours, however, they are surely worth going over[…]
FiverrEarn
[…]The facts mentioned in the article are some of the most effective accessible […]
live sex cams
[…]please visit the sites we follow, which includes this one particular, because it represents our picks from the web[…]
live sex cams
[…]The facts talked about in the article are some of the most effective readily available […]