A US company, from South Africa.
You do not need to be American, live in America, or hold a social security number. What you do need is a clear head about three things most guides skip: exchange control, your SARS position, and whether you can actually open the bank account.
What's included
- LLC or C-Corp filed in the state you choose, in 1-2 business days
- EIN from the IRS with no SSN and no ITIN required
- Registered agent and a US business address
- Operating agreement and your stamped formation certificate
- The domain, if you still need one, at the price you keep renewing at
- Bookkeeping and US tax filing when the company starts trading
What it costs
Plus the state filing fee, paid straight through to the Secretary of State. Wyoming $100, New Mexico $50, Delaware $110 with a $300 annual franchise tax on top. At roughly R18 to the dollar that is about R5,350 plus the state fee for year one.
The three things South African guides skip
Exchange control is a real constraint
Funding a US company from a South African bank account runs through SARB exchange control. Individuals have a R1 million single discretionary allowance per calendar year needing no SARS clearance, and a further R10 million foreign investment allowance that does require a SARS tax compliance status PIN. Most founders never come close to the limits, but you must be able to show where the money went and why.
Your SARS position does not disappear
If you are ordinarily resident in South Africa you are taxed on worldwide income. A US LLC does not change that. A single-member LLC is fiscally transparent by default, so its profit generally lands on your personal return, and the US-South Africa double tax agreement decides who taxes what. Get this checked by a South African tax practitioner before you trade, not after.
Banking is the part that actually fails
Forming the company is easy. Opening the account is not. This is where most South African founders stall, and where most providers are quiet. See below.
Can you actually open a US bank account?
The honest answer, which is more than most providers will give you.
What works for South Africans
- Mercury accepts South African founders. It is the usual answer.
- Wise Business and Payoneer work and are simpler to get.
- Stripe works once the company has an EIN.
What to know before you rely on it
- Nobody can guarantee an account. Mercury is a fintech, not a bank, and its partner bank sets the rules. In 2024 it offboarded existing customers across 37 countries.
- Relay opens accounts but blocks international wires for South African founders, so you cannot get your own money home.
- A registered agent address is not a business address. Mercury rejects registered agent addresses, PO boxes and mailbox services.
- The EIN takes 4-6 weeks for non-US founders, and banking is blocked until it arrives. The 1-2 days you see quoted is the state filing.
Why we say this out loud. Every competitor advertises a US bank account as though it were part of the package. It is not, for anyone, and pretending otherwise just moves the disappointment to after you have paid. Form the company for the entity, the EIN and the ability to take Stripe payments. Treat the bank account as a separate application with a real chance of rejection.
Real platforms this comes up against
More for South African founders
Everything else your US company needs
EIN without an SSN
The step that stalls most non-US founders. We run the SS-4 process end to end.
Form 5472 and US filings
Foreign-owned LLCs file every year even at zero income. The penalty for missing it is $25,000.
Form the company
LLC or C-Corp in any of the 50 states, with the EIN and registered agent included.
Founders from other countries
CBN currency rules, Stripe access, and which banks actually work.
BoG licensing rules, GRA filing, and the Stripe-Paystack workaround.
PayPal's 2026 freeze wave, CBK's no exchange controls, and the KRA position.
PayPal's 8% conversion tax, CBE forex rules, and the zero-rated VAT on exports.
BIR registration, remittance limits, and Mercury vs Relay.
SBP rules, why PayPal is not the answer, and what is.
PayPal's announced-but-not-live access, CBSL's 2026 repatriation rules, and IRD's new freelancer tax.
Bangladesh Bank's 2026 forex overhaul, the IT tax exemption, and Mercury's ban.
SBV forex rules, Decree 117's platform withholding, and why Stripe needs a US LLC.
Why Stripe is invite-only, Mercury's ban, and the DHE repatriation rules.
The 100% tax deduction that still needs a foreign bank, and why Stripe still says no.
The cepo cambiario after 2025, why Stripe still won't onboard you, and the LEC.
The 9x IOF shock, why Stripe needs a CNPJ, and the Carne-Leao filing.
The ATO LLC classification trap, CFC rules, and the DTA.
IRD's foreign investment fund rules and the US-NZ DTA.
How this works. NameMarshal is not a law firm or an accountancy practice, and nothing on this page is legal or tax advice. Company formation, EIN and registered agent services here are fulfilled by our formation partner doola. Foreign-owned US LLCs generally have to file Form 5472 with a pro-forma Form 1120 every year, even with no income, and the penalty for missing it is steep. Ask us and we will point you at someone licensed to handle it.