How to Open a US Business Bank Account from Syria

Important update: The United States lifted its comprehensive sanctions program against Syria effective 1 July 2025, revoking the Syrian Sanctions Regulations (SySR) and removing over 500 individuals and entities — including all Syrian financial institutions — from the Specially Designated Nationals (SDN) list. This is a significant change. Syrian founders can now legally access US banking services in ways that were prohibited before July 2025.

This guide reflects the post-July-2025 legal landscape. If you are reading guidance written before that date, it is likely outdated.

What changed on 1 July 2025

The US Treasury's OFAC revoked the Syrian Sanctions Regulations. This means:

• US persons may now provide financial services to Syria
• US banks may process payments involving Syrian financial institutions
• Correspondent banking relationships between US and Syrian banks are now permitted
• Syrian founders may open US business bank accounts without a per-transaction OFAC licence

What has not changed

Lifting the comprehensive sanctions program does not mean Syria is unrestricted. Two important constraints remain:

Syria's State Sponsor of Terrorism (SST) designation persists. This imposes restrictions on certain export controls and arms-related transactions. It does not prohibit US banking for civilian business purposes, but it means US financial institutions will apply enhanced due diligence.

Targeted sanctions against Assad-era individuals and entities remain. The SDN list still includes individuals associated with the former Assad regime, human rights abuses, and narcotics trafficking. If you or any beneficial owner of your company appears on the SDN list, US banking is still prohibited.

What you need to apply

A US entity

A US LLC or C corporation is the standard starting point. Delaware and Wyoming are the most common choices. Your Certificate of Formation, Operating Agreement, and EIN are the core documents.

An EIN

An Employer Identification Number from the IRS is required by most US banks. Syrian founders can apply using IRS Form SS-4 without a US Social Security number.

A real US business address

Banks want a street address — not a PO box and not just a registered agent address. A virtual office with a legitimate street address is usually sufficient for online banks.

Identity documents

A valid Syrian passport and beneficial-owner information for all owners with 25% or more of the company. Expect enhanced due diligence: some banks may ask for additional documentation about the source of funds and the nature of the business.

Bank-by-bank: what Syrian founders should expect

The legal barrier is gone. The practical barrier — bank compliance departments deciding whether to onboard — remains. Expect a slower process than for founders from countries with no recent sanctions history.

Mercury

Mercury was previously unavailable to Syrian founders due to OFAC restrictions. Post-July-2025, the legal prohibition is lifted. Mercury's compliance team will still review applications from Syria carefully given the recent sanctions history. Prepare a clear, well-documented business profile.

Wise Business

Wise has begun lifting restrictions for Syrian users following the sanctions reversal. Wise is particularly useful for founders who need to move money between Syria and the US. Check Wise's current country eligibility page before applying, as implementation of the sanctions reversal across fintech platforms is still rolling out.

Chase

Chase is a traditional bank with a branch-based process. For Syrian founders, an in-person visit to a US branch is typically required. Given the recent sanctions history, Chase's compliance review will be thorough. This is a longer-term goal; start with Mercury or Relay.

Wire transfers from Syria to US companies

Syrian banks now have legal access to SWIFT correspondent banking with US institutions. In practice, not all US correspondent banks will have updated their internal policies immediately. Expect some delays in the first year as the banking system adjusts to the new legal landscape. Wise and other fintech platforms are likely to be the most practical option for international transfers in the near term.

Realistic timeline

Syrian founders who have their documents in order can expect the process to take longer than for founders from countries with no recent sanctions history — typically four to eight weeks for online banks, longer for traditional banks. This will improve as US financial institutions gain experience with post-sanctions Syria.

What Keystone Bridge does

We handle the US side for founders based outside the United States: entity formation, EIN, ITIN, US business banking access, and business credit.

The price of every stage is published on this site, so a first conversation is about whether we fit — not a pitch. If the answer is that you can do this yourself, we will tell you so. This guide is for informational purposes only and is not financial, tax, or legal advice. Consult a qualified adviser for your specific situation.