@Rudolf Schmidt Thank you for your response and for providing a better insight into this. I'm trying to be careful during this process as I don't want to step into any traps. Would you happen to know if I can use a personal bank account for business purposes (this may sound like a stupid question so please correct me if so). I'm guessing it doesn't matter as long as I report the proper information to the IRS about tax. I am waiting for my ITIN to come back to allow me to open personal accounts.

@Rudolf Schmidt Let me say big thank you for taking the time to give me a helpful and detail response to my questions. I apologise for the delay in replies. I will start working on getting my accounts open using the correct methods to avoid issues. Did you get yourself a website for your business?