[patio11]

SVB and Stripe are complying with all of our legal obligations. You'll forgive me if I generally abstain from more detailed commentary on internal operations of my employer.

I do not believe your understanding of the regulations to be accurate. Are you of the opinion that it is impossible for e.g. Toyota to have a US bank account? No, of course not. That would be crazy. So if the mental model has a Toyota-shaped hole, what other holes does it have?

[danieltillett]

I only speak from my personal experience. In the past (pre 2001) it was possible to set up a business bank account in the USA if you weren't a US resident (I opened one back in 2000 which I now wish I didn't close in 2005). I tried again in 2012 and it proved impossible due to the changes in the KYC regulations. If SVB and Stripe have figured out how to get around the KYC regulations I wish they would share their knowledge with the greater startup community.

I am sure Toyota opened their accounts pre-2001 so I am not sure they are the best example.

[infinite8s]

Toyota also has legal subsidiaries in most major jurisdictions.