23/12/2021
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You must have heard the general discussion about creating amazon ID but haven't practiced live with your hands that is the biggest hurdle for a beginner in the ID Creation field.
Question 1: I know how to signup but can you please tell me before signing up on amazon what prerequisites are required?
Answer: Yes, there is a whole process for business ID signup but as far as being concerned about the individual account. it's just straight signing up with an individual account with:
Passport
CNIC
Utility Bill
Bank Statement
AMAZON BUSINESS ACCOUNT PREREQUISITES:
If we are talking about amazon US then we have some prerequisites:
US Address: Now, here comes the difference between virtual & physical addresses. Physical Address: A normal usual address. Virtual Address: Basically, it's a physical address that is divided into multiple suits like if you have 2 rooms in a house. Room 1 is suit 1 and room 2 will be suit 2. So, this is the meaning of the virtual address. It doesn't mean any address jo k Hawa Mein ho :D Now, where to buy it? You can buy online from any site like post-scan mail.
US Registered Agent: You need to have a person who is your agent in the US who can receive the documents on your behalf in US. Without RA you can't open LLC. So, RA does that for you. You can subscribe for an RA through google on the state website. Like if you want to register an agent for texas then just write a texas registered agent and simply follow the procedure.
LLC Creation: You need to create an LLC (Limited Liability Company) now. LLC can be created from a state website as I told you about RA. LLC is basically your company in the US. You will use this company for account creation.
Employer Identification Number: After creating an LLC. Just apply for EIN. EIN is used to pay taxes in the US related to your company. You can apply for EIN on the IRS website.
Bank Account: You can signup for hyper wallet, mercury bank, Brex. These are some virtual banks you can say that could be opened for your company. Without EIN you can create bank accounts. For a physical bank, you need to visit physically in the US.
Now, if you need to go for PL then the above steps are okay but if you need to go for Wholesale then you need a few additional stuff like:
Resale Certificate: This is used to save yourself from several taxes in the US for the wholesale model.
Individual Tax Identification Number. ITIN is used to pay individual taxes in the US because you are making money in their country so this number is used for taxation purposes. If you are using PayPal then they could ask anytime for your ITIN number. It takes 4 to 5 months to get your ITIN number. This is an alternate to SSN (Social Security Number). SSN is for US citizens to pay individual taxes & ITIN is for noncitizens. Khalas!
Now Both ITIN & Resale Certificates could be applied from the IRS & Stateβs Department Of Revenue website respectively.
Finally, You can signup for your amazon account. Amazon Business account could be opened by using the steps from 1 to 5 & the rest of 6 to 7 are for taxation purposes.
Documents you need for all the purposes:
Passport
CNIC
Utility Bill
Bank Statement
