Most people buy an LLC online without realizing it can hurt them later
A mass-market LLC address can make a legitimate company look disposable. This video explains how addresses, substance and company records affect banking credibility from the first compliance review.
Transcript excerpt
Don't buy an LLC online because if you do this, you're just going to get an address that's used by 10,000 other businesses. If you have an address that's used by 10,000 other businesses, as soon as you go to a bank and you do their KYB process, they're going to look at your company and they're going to see no economic substance because there's so many different businesses that already registered that address. So, what you shouldn't do is simply go online, buy an LLC at one of these random places that provide services very, very cheap because at the end of the day, it's going to cost you more. What we do at Redomiciled is we help our clients get premium addresses which are used by way less businesses. Meaning when you go to these banks and you do apply for these accounts, you're seen as a legitimate business in the US with economic substance.
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