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For business owners that have incorporated or are planning to incorporate a US company, they would need to have their own US tax processing number issued by the Internal Revenue Service (IRS) for the purposes of federal tax reporting and complying with the tax laws. One of the tax types that the IRS issues out to individuals is the Individual Taxpayer Identification Number (ITIN).
It is a 9-digit number, beginning with the number "9" (NNN-NN-NNNN).
It can prove that the company is paying tax in the US.
It can be used to open an interest-bearing bank account, to apply for credit cards or loans in some banks.
ITINs are also used by real estate brokers to facilitate mortgages for unauthorized aliens.
Fill the Form W-7 (IRS Application for Individual Taxpayer Identification Number)
Prepare the documentation substantiating foreign/alien status and true identity. There are 13 accepted documents (Passport works best).
Mail everything to the designated address written in Form W-7
Note: It expires after three years of non-use.
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the British Virgin Islands (BVI) has attracted millions of company owners with its tax-friendly system for foreign investments. In addition, all confidential information such as owners, directors, shareholders are not public as well as one individual can take all three roles.
There are four rank levels of ONE IBC membership. Advance through three elite ranks when you meet qualifying criteria. Enjoy elevated rewards and experiences throughout your journey. Explore the benefits for all levels. Earn and redeem credit points for our services.
Earning points
Earn Credit Points on qualifying purchasing of services. You’ll earn credit Points for every eligible U.S. dollar spent.
Using points
Spend credit points directly for your invoice. 100 credit points = 1 USD.
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