The ITIN (Individual Taxpayer Identification) is a document issued to those who need to receive a salary, or any other form of payment that requires the need to report to the inspection agencies of the IRS. You do not need to be a citizen, permanent resident or have any visa to open an ITIN, just have a valid passport.
Just as every US citizen needs a Social Security Number (SSN) to work, pay taxes and open financial accounts, you need an ITIN for the same purposes. What is the benefit of ITIN? ITIN will help you build a secure financial credit in the United States. For example, you can have your own bank accounts in the United States and create a credit history that will give you the financial security you need to succeed in a new country. Although it is an obligation and, as such, people do not usually link paying taxes with any benefit, there are some benefits for ITIN holders and taxpayers in the United States. First, the declaration is a starting point for the relationship with the North American country. Once the ITIN is obtained and the first tax return linked to it, a financial history in the US begins to be recorded. Therefore, if the intention is to formalize and expand a financial and fiscal relationship with the country, having an ITIN number can help you in this process and reduce bureaucracy a little, enabling certain procedures. The analysis and issuance of the ITIN number takes a minimum of 7 weeks to complete. Please note: Obtaining an ITIN does not entitle the holder to work in the US, nor does it make him or her eligible for a Social Security number. The ITIN is used exclusively for accountability to the tax authorities.
