Prohibit business activity to open USA Bank Account

To open a USA Bank Account, you must have Company Registration in the USA. However, you must also make sure that your business doesn’t participate in any prohibited business activity to open a USA Bank Account. This article guides you about restricted and prohibited business activities that you must know before opening a USA Bank Account.

Regulated or Illegal Business Activities in USA

Sale of Schedule I controlled substances with or without a pharmaceutical licence, or the sale of Schedules II-V controlled substances without a pharmaceutical licence, as defined by the United States Department of Justice Drug Enforcement Agency (DEA).
Production, sale, or distribution of marijuana.
Production, sale, or distribution of guns, accessories, ammunition, and other weapons.
Production, sale, or distribution of illegal material, including but not limited to child pornography.
Gambling, betting, lotteries, sweepstakes, or games of chance.
Prostitution or escort services.
Sale of counterfeit or “grey market” goods or services.
Ponzi or pyramid schemes, or other unfair or deceptive activities.

Violent or Hateful Activities that are prohibited

Intentionally promoting, supporting, or engaging in (1) violence or physical harm or (2) hate toward any group or individual based on race, religion, disability, gender, sexual orientation, gender identity, national origin, immigration status, or any other legally protected characteristic under federal or state law.

Restricted Business Activities List

If your company is involved in any of the following activities or businesses, you might need to provide extra information or documentation, or you might be ineligible for certain services. This includes:

Businesses dealing in cryptocurrency or digital assets
Financial services providers, like banks or bank affiliates, securities brokers, money transmitters, investment companies, or investment funds
Pornography, adult chat, or other sexually explicit services
Sale of Schedules II-V controlled substances with a pharmaceutical license, as defined by the DEA

Conclusion

In conclusion, if your business is related to any restricted activities that require additional documentation or permission, you must get it. Also, if you are unsure about your business activities category, or LLC Company Registration in USA from India, you can consult our team of experts.