Through Lili’s Embedded Finance Integration, Non-U.S. Residents Can Manage Their U.S. Businesses’ Finances More Efficiently
Lili, the financial platform designed for small business owners, announced that Lili Connect is now available to eligible entrepreneurs who are not U.S. residents, a key milestone in Lili’s emerging global footprint. Through Lili Connect, corporate formation services partners can now offer their customers streamlined banking, accounting, and tax preparation solutions.
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U.S. small businesses founded by non-residents contribute significantly to the national economy, supporting over five million jobs and more than $1 trillion in output. However, while opening a bank account can be complex and time-consuming for any entrepreneur, it is especially challenging for non-residents managing a U.S. business without a Social Security number, who often face high foreign transaction fees, difficulties opening an account remotely, and limited access to credit or financing.
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Now, entrepreneurs residing outside of the U.S. can quickly and easily open a Lili business checking account online through Lili Connect’s network of over a dozen corporate formation company partners. Entrepreneurs will be able to manage the finances of their U.S-based businesses from anywhere in the world with banking, accounting, and tax tools all in one place. They will also be able to take advantage of Lili’s international wire payments with competitive pricing, along with bill pay and invoicing software, to pay employees and vendors and get paid by customers. Additionally, non-U.S. resident entrepreneurs will be provided with a Lili Visa Debit Card with no foreign exchange or transaction fees, offering a cost-effective solution for managing their finances.
“In 2025, a small business owner’s physical location should not dictate how well they can run their U.S. business,” said Lilac Bar David, co-founder and Chief Executive Officer of Lili. “Through Lili Connect, it will now be easier for international entrepreneurs to see the full picture of their U.S.-based businesses’ finances and gain a competitive edge on a global scale.”
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This new capability will allow more small businesses to benefit from Lili Connect Lili’s embedded finance application that enables the customers of partnering companies the ability to utilize Lili’s services and open dedicated business banking accounts online. Through Lili Connect’s latest capability, more entrepreneurs will be able to reap the benefits of Lili’s dedicated financial tools for small business owners.
Non-resident U.S. business owners also represent the latest international capability from Lili, which announced international wire payments in more than two dozen countries last month. Lili plans to expand its list of eligible countries in 2025, both for international payments and for non-resident accounts.
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source – businesswire
