The best tips and business tools: Bank account, payment providers and distribution platforms for your LLC and LLP!
Here you will find our best tips and business tools for platforms such as banks, payment providers, insurance companies, post scanning services and password managers which we or our clients use ourselves and which we can therefore recommend to you. You can also find tips and tricks on this page, e.g. for opening an account with a bank or registering on various platforms!
Banks for your LLC/LLP
These are the most important business tools (or business accounts) for your LLC / LLP. These bank accounts can be opened completely remotely and ensure that you can receive income from your customers/clients with your LLC or LLP.
Absolute must-have account!
- Suitable for your LLC / LLP!
- Debit cards for LLP and LLC!
- Private and business account!
Important information here!
- Private proof of address required
- Currently again debit cards for US LLCs
- Account for LLC can be verified as Single Member LLC even without LLC name in the private proof of address (business address)
- Multiple business accounts can be opened in the same profile (i.e. LLP and LLC in the same account)
- Can be linked directly to Stripe (LLP only), for example!
US business account for LLCs
- For your LLC!
- Debit cards included!
- With deposit protection!
Important information here!
- Only suitable if you own a US LLC and the corresponding EIN
- Private proof of address is required
- Incoming money in Euro is exchanged for USD
- Transfers cost, unless you have the Pro Account
TOP Business Account USA
- For your LLC!
- Debit card included!
- With deposit protection!
Important information here!
- Only suitable if you own a US LLC and the corresponding EIN
- Private proof of address is required
- Incoming money in Euro is exchanged for USD
- Can be connected directly to Wise (US) and Stripe (US)
Important explanations on business accounts for LLC / LLP owners!
Let’s assume that you have successfully founded your LLC or LLP and are now looking for a bank account for your LLP (or several bank accounts for your LLC). You can open these bank accounts, among others, completely remotely:
Wise
Wise is ideal for opening a business account for an LLC or LLP. However, Wise is often not easy to understand when Wise (or its algorithm) either asks you for more documents or does not provide you with an account at all. Excluded businesses are declared quite well here. The place of residence sometimes also plays a significant role with Wise! In recent months, for example, we have noticed that Wise likes to reject business accounts if the owner of the LLC or LLP is based in Cyprus.
When opening a new business, Wise sometimes asks for things like: “Provide proof of your income and upload it”. The best way to do this with a newly founded company is to tell Wise that the company is still new and has no income. It has also happened that Wise asks for proof of residence. This is not always the case, but we suspect: “The more exotic and more in the direction of a tax haven – the tougher the check”.
Attention account blocking: Please make sure that money deposits are made either from your private bank account or in the B2B area! Deposits or transfers from accounts other than your own (this also includes private accounts of your clients or customers!) are either checked by Wise (invoice must be uploaded) or Wise simply freezes your account or, in rare cases, closes it completely.
Unfortunately, Wise only offers deposit protection and interest on the Wise LLC account if this is activated in the currency section of the USD account. Other currencies (also in the Wise LLP account) are unfortunately left empty-handed, which is why we would only recommend Wise for receiving, exchanging, transferring and as a payment option!
Despite the reintroduction of debit cards at Wise for US LLCs, we recommend opening an account with Mercury, for example, as you can connect Mercury to Stripe (if you want to) and have another backup account in the US in USD currency.
Mercury / Relay (only for LLC)
These two “banks” have a banking license, but are just as much fintechs as Wise. However, both banks also offer deposit protection and interest on the balance! Both banks send debit cards, usually to the country of residence. In rare cases, however, it can happen that a bank only sends the debit card to the company address. However, our LLC package includes the cost of sending a letter (not registered mail!).
But be careful! Both banks require proof of residence, as does Wise! This can be a bank statement, a driver’s license, a utility bill or an Internet statement from the applicant with the address of residence.
For perpetual travelers, this is therefore only a solution if there is proof of residence. For example, a short tax residence with a rented apartment, a bank account or a driver’s license issued to the home address could provide a remedy (compliance residence!).
Banks for your private use
These are the most important banks for you as a private individual! DKB is now the bank that can still be maintained with a foreign address despite emigration from Germany. With an account at Swissquote (Switzerland) or Interactive Brokers, your money can be easily stored internationally in different currencies and there is the possibility of trading.
Stash money in Germany!
- To save and spend!
- Debit card included!
- Deposit protection EUR 100k
Important information here!
- Should be opened with DE address, as opening from abroad does not always work
- Address can be changed from abroad
- Proof of address from abroad required (extended deregistration confirmation or confirmation of residence from the consulate / embassy)
- Account can thus be managed as a non-resident taxpayer
Trade & save in Switzerland!
- Trading and money custody!
- Option: crypto, savings plan
- Deposit protection CHF 100k
Important information here!
- Proof of private address is required (e.g. bank statement, driver's license, electricity bill, rental agreement)
- Best to open with a foreign TAX ID
Mooring & bunkering abroad!
- Trading and money custody!
- US companies (no CRS!)
- Deposit protection USD 500k
Important information here!
- Proof of private address is required (e.g. bank statement, driver's license, electricity bill, rental agreement)
- Best to open with a foreign TAX ID
Important explanations on private accounts!
Basically, if you have the opportunity to open an account like the DKB or Revolut account in Germany with a registered address, then do it! It is relatively difficult or almost impossible to open a bank account without a registered address.
To all perpetual travelers out there! Forget the wishful thinking of opening bank accounts without an address or being able to register with any platform without proof of address. It does not work! You either have to make sure in advance that you open accounts from Germany (with proof of address!) or acquire a short residence abroad in order to be able to prove an address. The very last option would be to use an address from a post scanning service such as Anytime Mailbox. However, there is a relatively high risk that the bank will ask for proof such as a utility bill or rental contract for verification.
DKB
For the sake of simplicity, you should also open the DKB account from Germany, as you still have an address in Germany. If you subsequently want to deregister from DE and live in another country, we recommend that you apply for an “extended deregistration confirmation” from the citizens’ office in your district. The country of departure is written on it. This will then help you to change the address of your DKB account abroad (with proof) to the foreign address. The advantage? From now on, you will be registered with DKB as a so-called non-resident taxpayer and can also continue to hold the account from abroad.
Tip: If you want to open a DKB account from abroad, then you have to enter your foreign address right away and preferably also tick “employed” when asked whether you are employed or self-employed, as self-employment has already led to DKB not opening an account several times.
If you manage to maintain a monthly cash inflow of 700 euros or more, the DKB account is completely free of charge. You also currently receive quite decent interest on the DKB call money account.
Swissquote
Swissquote (Swiss bank) requires proof of residence and a tax number. If you already live abroad and have the opportunity to obtain a foreign tax number, we are happy to recommend Swissquote. Although it is not a bank in the traditional sense, it is a very good broker in Switzerland. Swissquote is a very good place to keep money, exchange it into various currencies and you can also take advantage of the deposit protection up to CHF 100,000.
Proof of residence is also mandatory here, as is a tax number for the country in which you live. You can also provide a German tax ID, but we would avoid this for tax reporting reasons!
Interactive Brokers (IBKR)
This is where it gets exciting! IBKR requires proof of residence and a tax number. If you already live abroad and have the opportunity to obtain a foreign tax number, we are happy to recommend IBKR. It is not a bank but a broker. However, IBKR is a good place to keep money, exchange it into different currencies and you can also enjoy the protection of deposit insurance up to USD 500,000. And last but not least, IBKR is a great place to trade.
Furthermore, IBKR is an American company which is exempt from CRS bank data exchange!
However, registration is very bumpy if you open the account from abroad. Proof of residence is mandatory, as is a tax number for the country in which you live. You can also enter a German tax ID, but we would also avoid this for tax reporting reasons!
The best international health insurers
Not a business tool but very important insurance: In our opinion, the best international health insurance for every budget and every level of insurance! These two insurers ensure that you have unlimited health insurance worldwide. There is no time limit on the duration of the insurance. We think: “It’s better to be properly insured right away and without any time limit than to take out insurance for 1-5 years, fall ill and then not get any more!”. Our independent insurance broker, who has many years of experience, can offer you health insurance that is especially suitable for expats, world travelers and families. Let us advise you and provide you with a free and non-binding quote.
Health insurance worldwide!
- Lockable from anywhere!
- Protection against dismissal!
- German insurer!
Health insurance worldwide!
- Lockable from anywhere!
- "Outpatient" is optional!
- French insurer!
Get a free consultation!
- Advice from an independent insurance broker!
- Free of charge and without obligation!
Important explanations on private accounts!
Why we recommend these two insurers again and again is obvious!
Both are affordable, offer very good benefits and, most importantly, both offer you protection until the point at which you cancel or pass away. We have gone through and studied so many insurance policies in our careers that we are now very sure that we will only rely on these two.
Many insurance policies can usually only be taken out for a short period of time. Some have to be renewed monthly and others have to be renewed annually and only last for a maximum of 5 years! However, this is bad when you consider that health events can occur during this time and you will then no longer be able to get any other insurance (after 1-5 years).
Other (especially non-EU!) insurers may accept you, but they also have the right to cancel your policy if you become cost-prohibitive. And then there are insurers who will not cancel your policy directly in the event of a claim, but can increase your premiums so that you cancel voluntarily.
So here are our two recommendations:
BDAE
BDAE is a German “super insurer” that offers all-round protection. The prices are relatively humane and naturally change as you get older. BDAE also offers legal protection insurance in the event of problems with a hospital regarding treatment.
However, as with most insurers, you must check the country zones. The insurance can be taken out from abroad. If Germany is your actual home country, you will only receive “emergency cover” when visiting DE. This means that you cannot get a doctor’s appointment in DE or have surgery performed in DE. Only emergencies count!
April
Similar to BDAE, the French insurer offers very good all-round protection. What we find very good is the option of taking a higher-value package but opting out of the outpatient insurance. This can be an advantage for some people who, for example, live in a country where hospital visits (for outpatient treatment) are relatively cheap. In this way, you can insure yourself against serious illnesses on an inpatient basis, while you pay for the outpatient costs yourself!
Here, too, it depends on the country zones. However, we know that you are also covered in Germany if your current place of residence is in Thailand, for example, as it is in the same country zone! We think that’s very good.
This insurance can also be taken out from abroad.
Helpful deregistration service from Germany
The next tool is a helpful deregistration service from Germany.“Abmelden.de” ensures that you can emigrate from Germany stress-free without having to worry about various deregistrations.
Logging out made easy!
- Deregister from Germany!
- GEZ, KFZ, cancel business!
- TOP price/performance!
