Legal Question in Business Law in New Jersey

I recently started a software company with a non-US citizen (I am a US citizen and a resident of New Jersey). We formed an LLC. However, most banks will not allow us to open an account unless both members are physically present with proper identification. Is there a solution to this dilemma in which one member can act as a representative of the business in order to complete basic tasks such as opening a bank account? Thanks for any insights.

Asked on 7/10/13, 6:25 am

4 Answers from Attorneys

Barry Gartenberg Barry F. Gartenberg LLC
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I forwarded your question to a few banks I have relationships with... If I hear of anything, I'll let you know.

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7/10/13, 6:48 am
Barry Gartenberg Barry F. Gartenberg LLC
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BTW... Since you formed an LLC, these newsletters should be of interest....

LLC Post-Formation Considerations...

http://us2.campaign-archive1.com/?u=727c96ba24cde635d82f43f1c&id=1e173bb359&e=0a66e3f46f

NJ's New LLC Law...

http://us2.campaign-archive1.com/?u=727c96ba24cde635d82f43f1c&id=0cd5e5ef6e&e=0a66e3f46f

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7/10/13, 6:51 am
Roman Fichman Esq. Law Practice of Roman Fichman Esq.
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Generally speaking, it is sufficient for one person to open a business bank account. I represent many foreign entrepreneurs and can assist you in the matter. Feel free to contact my office at your earliest convenience.


Roman R. Fichman, Esq.

www.TheLegalist.com │ @TheLegalist

email: Info (@) TheLegalist (dot) com

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Disclaimer: This post has been written for educational purposes only and was not meant to be legal advice and should not be construed as legal advice or be relied upon. No intention exists to create an attorney-client relationship or any other special relationship or privilege through this post. The post may contain errors, inaccuracies and/or omissions. You should always consult an attorney admitted to practice in your jurisdiction for specific advice. This post may be deemed as Attorney Advertising.

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7/10/13, 7:03 am
Ronald Cappuccio Ronald J. Cappuccio, J.D., LL.M.(Tax)
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First, you should have an attorney prepare an Operating Agreement. Since you are local, I suggest that the Operating Agreement be for a Manager rather than member managed LLC. That should be sufficient. I represent many LLCs with multiple members and this seems to have eliminated the issue. Secondly, if you go to a large bank with employees constantly changing, it is more difficult than with a more local bank.Since you are in Gloucester County, I can suggest several appropriate banks.

Good luck!

Ron Cappuccio

www.LLCLawyer.com

856 665-2121

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7/10/13, 12:20 pm

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