Are you thinking about having an LLC? How about choosing a place that offers multiple benefits? Yes, if you are thinking about LLC incorporation, then Wyoming is an incredibly popular choice for non-US residents! (Note: Check out our “Best State” article for why you should form an LLC in the state you reside in if you live in the US).
In this article, we will discuss why Wyoming is a popular state for incorporation. So keep on reading to learn all about what makes Wyoming a winner!
Benefits of Incorporation in Wyoming
Wouldn’t it be great to incorporate your business in one of the most business-friendly state of America? We have enlisted some of the benefits of doing business in Wyoming.
No State Taxes
Wyoming has never charged a state income tax on LLC’s. This is extremely attractive for many owners, as income tax can be tremendous and hamper the growth of small and medium business.
Privacy & Asset Protection
Wyoming is one of the few states where members names, or their managers, are listed with the state. Because of this, you can maintain near full anonymity. In addition, there aren’t any public records with your information. There is also very little the state requires to know about you to form an LLC.
Asset Protection is a key feature of an LLC, and is what Limited Liability Corporation (LLC) stands for! The owners are never liable for any debts and liabilities their LLC may have, and Wyoming helps protect owners from lawsuits. If the worst-case scenario comes true, your business may be in debt but you won’t personally be!
Perpetual Life of the LLC
Your LLC will last forever! With some other states, and other forms of businesses like Sole Proprietors, the business ends with the owners death. As long as fees are paid your business will stay open forever in Wyoming!
Wyoming have no limit on owners of an LLC! If a group of friends or partners decide to open an LLC, there’s no limit to how many can join. Another perk is that it is extremely easy for owners to transfer their ownership to others, giving Wyoming great flexibility
Wyoming LLC’s are known for their lower price! With other states, using Doola to incorporate could cost almost $1000! Because of Wyoming’s affordable rates, the startup fees are included in
No Citizenship Requirements
There is no citizenship requirement to own and operate a Wyoming LLC! Anyone from anywhere in the world can do so!
Incorporation Facts Regarding Wyoming
Here are some of the facts regarding incorporation in Wyoming, making this state stand out in the competition.
— The state cannot have shares of the business.
— The state does not hold an LLC membership certificate and agreement to operate.
— Nothing can beat the supportive and business-friendly environment of Wyoming.
— You do not search the list like you have to in any other state.
— You do not have to pay any franchise tax.
— You are not required to fulfill the nominee service.
— Your presence is not required to open a business in Wyoming. You can file for business incorporation while being outside the Wyoming state.
— You have complete liberty to open a bank account for Wyoming anywhere across America.
— To own a company in Wyoming, you do not need US citizenship.
— The filing procedure at Wyoming is prompt, and it takes only 5-7 working days to get a license.
— For your company to stay in good standing, you have to pay $52 annually.
— However, you have to pay the agent his fee along with the annual fee.
— You can form an LLC in Wyoming privately.
Start your Wyoming LLC Today, with Doola
Let us handle the details, so you can do what you do best: make money and grow your business!