Frequently Asked Questions

No! We work with entrepreneurs and businesses from all around the world.

No! It is each person's decision to make their own tax declaration.

An LLC (Limited Liability Company) is a legal entity that combines features of partnerships and corporations, providing its owners (called members) with certain benefits of liability protection and flexibility in terms of structure and operations. The main feature of an LLC is that it offers its members limited liability protection, meaning owners are not personally responsible for the company's debts and obligations. Here are some key characteristics of an LLC: • Limited Liability: LLC members are generally not personally liable for the company's debts and obligations. This means their personal assets are protected if the company faces financial difficulties or legal claims. • Structural Flexibility: LLCs offer flexibility in terms of organizational structure and management. Members can choose to manage the company themselves (single-member LLC) or designate managers (multi-member LLC) to handle daily operations. • Flexible Tax Treatment: LLCs typically have flexible options regarding how they are taxed. They can choose to be treated as a separate tax entity, or the LLC's income and expenses can pass directly to the members' personal income, avoiding double taxation. • Easy Formation and Maintenance: Creating and maintaining an LLC is usually less complicated than a corporation. Reporting and record-keeping requirements are generally less demanding. • Unlimited Number of Members: Unlike some other legal forms, LLCs can have an unlimited number of members, providing flexibility in ownership structure.

A C-Corporation (C-Corp) is a legal entity used in the United States to organize and operate a business. It is a business structure that is considered legally separate from its owners, meaning the corporation is responsible for its debts and obligations, and the owners (called shareholders) have limited liability. Here are some key characteristics of a C-Corporation: • Limited Liability: C-Corp shareholders generally have limited liability, meaning their liability for corporate debts and obligations is limited to the amount of their stock investment. • Stock-Based Ownership Structure: Ownership of a C-Corp is divided into shares, and shareholders own these shares based on how much they have invested in the company. • Separate Tax Treatment: A distinctive feature of C-Corps is their separate tax treatment. The corporation files a tax return for its own income and expenses. • Perpetuity and Continuity: A C-Corp has perpetual existence, meaning it can continue to exist regardless of ownership changes. • Management Structure: C-Corps typically have a more formal management structure with a board of directors that makes strategic decisions.

An EIN (Employer Identification Number) is a unique identification number assigned to a business entity so it can be easily identified by the Internal Revenue Service (IRS). It is required by many banks or institutions (such as the IRS) to conduct business in the United States.

A checking account at an American Bank with the ability to receive payments and make transfers, as well as a Visa debit card that you can use at any point of sale or ATM.

No! LLC partners declare their profit or loss at the end of the year.

The founding document of your company. It is registered with the state's chamber of commerce. It tells us the company name, who the directors and shareholders are.

An agreement that regulates the parameters under which the company partners operate and the role they play.

A document that allows one partner to represent the company to open bank accounts without other partners present.

Generic contracts that can be used as a reference to create customized contracts.

It means that the bank where we will create your account allows transfers to and from crypto exchanges.

We process your information and documents within 48 hours so your company is ready as soon as possible.

We process your information and documents within 24 hours so your company is ready as soon as possible.

Yes! When creating your LLC, you can opt for our accounting service.

You can contact our support team using the email info@dasbanq.com or schedule a free consultation.

Except for the following exceptions, you can open your digital bank account from anywhere in the world! Countries of residence where digital banking is not available: • Afghanistan • Albania • Belarus (Republic of Belarus) • Bosnia & Herzegovina • Burundi • Cambodia • Cameroon • Central African Rep • Congo (the Democratic Republic of the) • Congo (the) • Croatia • Cuba (Republic of Cuba) • Eritrea • Haiti • Iran (Islamic Republic of Iran) • Iraq • Lebanon • Liberia • Libya • Mali • Mozambique • Myanmar (Burma) • Nicaragua • Nigeria • North Korea (DPRK - Democratic People's Republic of Korea) • Pakistan • Palestine (State of) • Philippines • Russia (Russian Federation) • Somalia • South Sudan • Sudan (the) • Syria (Syrian Arab Republic) • Ukraine • Venezuela (Bolivarian Republic of) • Yemen • Zimbabwe.

Withdrawal fees vary depending on the method: • Bank transfers (Wire/ACH/SEPA): 0.50% + fixed fee - Wire Transfer: Additional $25 fee - ACH Same-day: Additional $5 fee - SEPA Transfer: Additional $2 fee • USDC crypto withdrawals: 0.50% only • USDT crypto withdrawals: 0.55% only The total fee will be automatically calculated and displayed before you confirm your withdrawal.

Liquidation fees are applied when positions are automatically closed: • USDC liquidations: 0.50% • USDT liquidations: 0.55% These fees are separate from withdrawal fees and are only applied during liquidation events.

Deposit fees are only applied when receiving USDT: • USDT deposits: 0.10% • USDC deposits: Free • Bank transfers (ACH/Wire/SEPA): Free The deposit fee will be automatically deducted from the received amount when applicable.

Next-day ACH transactions can take 1-3 days to arrive in your account. Same-day ACH transactions sent before 4 pm EST will arrive at their destination on the same day. Wires can take a few hours to process, but they will be processed the same day as long as they are received before 5 p.m. EST.

Minimum amounts vary by operation type: • Withdrawals: $100 USD or equivalent • Deposits: No minimum required • Liquidation addresses: $20,000 USD or equivalent These minimums help ensure efficient processing and network fee coverage.

Memos can be entered in the Memo or reference field when creating the ACH or Wire. For JP Morgan Chase, the correct field is called "Message to Recipient." For Mercury, the correct field is called "Message to Recipient." We recommend reaching out to your bank if you are not sure where the memo should go.

The correct routing numbers for Lead Bank are 101019644 for virtual accounts and 101206101 for most memo-based payments. Both can be found on FRB Services' website at frbservices.org. The American Bankers Association (ABA) also provides an online lookup tool for routing numbers, which can be accessed here. If you encounter any errors, please contact your bank's support and inform them that these routing numbers are listed on the websites mentioned above and should be recognized to support wire and ACH payments.

Virtual accounts with Dasbanq do not currently support SWIFT payments, only ACH, US domestic wires, and SEPA transfers.

Virtual accounts are fully permitted to receive the following transactions for non-US residents: 1. First-party payments where you are sending USD from your bank, fintech app, or brokerage account 2. Third-party payment where a registered business sends USD from its bank account 3. Third-party payment from a family member's bank account, where you share a surname 4. Third-party Person-to-Person payment for an amount less than $2,000 The following types of transactions are fully permitted to be received by virtual accounts for US residents: 1. First-party payments where you are sending USD from your bank, fintech app, or brokerage account 2. Payroll payments from businesses