Company Registration in Wyoming
In 2023, this mountain state, known in America as the "Cowboy State," once again confirmed its leadership in the top 3 of the national tax climate rating, according to the international research center Tax Foundation. It has been conducting its analysis since 1937, making it the most authoritative source in the United States.
For many years, experts have called Wyoming a unique business ecosystem where liberal legislation, favorable taxation, highly developed infrastructure, some of the lowest crime and unemployment rates in the country, and excellent opportunities to develop in an environment of successful companies combine to provide numerous benefits through business traditions. After all, it was here in 1977 that it first became possible to create such a form of legal entity as an LLC (Limited Liability Company). Wyoming's motto - "Equal Rights" - is strictly observed in relation to all enterprises, regardless of whether they belong to residents or non-residents. How to open a company in Wyoming, taking into account all local features?
Will you need a visa to start your business?
Not necessarily. A non-resident can simply engage an official registration agent who will process all documents remotely (this can be either an individual or a legal entity). And if your company is successful and generates income, this is a direct path to obtaining a US visa (and subsequently a green card for your entire family).
Main advantages of the state for starting your business
There are numerous arguments in favor of registering a company in Wyoming.
- The director/founder can be a resident of another country, and shareholder meetings can also be held abroad.
- There are no requirements for minimum authorized capital or number of participants (it can be one person)
- You can open a company remotely.
- Personal data of directors and shareholders is strictly confidential.
- There are no restrictions on the volume and value of shares.
- Foreign companies registered in Wyoming but not conducting business in its territory do not file annual financial reports.
- The most favorable tax burden in the country in recent years.
- Protection of personal assets (company debts are not covered by the owner's property in case of lawsuits).
- There is a possibility of establishing an anonymous company (this option is offered by only three other states out of 50).
- The registration fee is lower than in many other US state-territorial units. The procedure itself is quick and without delays.
How to register a company in Wyoming
- Come up with an original name (not matching or similar to the name of an existing legal entity in the state).
It can be composed in any language but using the Latin alphabet. The organizational-legal form of business must be specified. If it's an LLC, use the term "Limited Liability Company" or abbreviated "LLC", "L.L.C.", "LC", "L.C.", "Ltd Co" etc. In case of forming a corporation, the name traditionally ends with the word "Incorporated" or the abbreviation "Inc.". The use of certain terms related to government institutions is restricted, such as "academy", "education", "university" and "school" (these need to be coordinated with local authorities). You cannot include words like "bank", "trust" and "insurance" in the name of your future enterprise. In any case, you can check if your proposed name is already taken and even reserve your option for about 4 months for a separate fee.
- Prepare the articles of organization
Prepare the articles of organization, which outline the management rules and rights of participants, as well as contain the necessary registration information (name and address of the registered agent, mailing address, main office address, etc.).
- Enter into an agreement with a registration agent (this is primarily required for LLCs).
They must have permission to conduct business in Wyoming, a physical address and contacts in the state, and be at least 18 years old. The registration agent fills out a consent form for their appointment, and it is submitted to the Secretary of State along with the company's articles of organization, by mail or online.
- Create an operating agreement.
This internal legal document, which describes how the business is conducted and ownership rights, is highly desirable for LLCs. In the future, it will help smooth out possible conflicts.
- Think about who can handle organizational matters on your behalf (conduct meetings, documentation).
A popular solution is to hire a secretary.
- Development of internal corporate legal documents
– if you have two or more employees. This is a nine-digit number that your enterprise will use to pay taxes, hire staff, obtain loans, etc. The application can be submitted online.
- Open a corporate bank account.
- Obtain licenses.
All businesses selling taxable goods must have appropriate official permits from the tax service. The application is submitted online or by mail. For example, a license is needed in most cases for a general contractor, businesses related to food preparation or transportation.
- Choose insurance options
(mandatory - medical for employees and auto insurance if the company uses vehicles; there is also risk insurance - commercial property, general, professional and cyber liability).
What you need to know about taxes in the state
Wyoming has one of the lowest tax burdens. There are no taxes on:
- local corporate income
- gross revenue
- franchise
- professional activity
- value added
In the "final analysis": a company in the USA (Wyoming) pays only federal income tax (21%) and local sales tax (4%; at the county level plus another 2%, resulting in an average rate of about 5.22%). LLCs operating in Wyoming must file an annual report with the Secretary of State each year.
How long does company registration take
Registration of a legal entity with the help of professionals can be completed in literally a few minutes. The average timeframe is 3-5 days from the moment of document submission if they are sent by mail. You can always check the status of your application on the Secretary of State's website.
How much does it cost
The registration fee is minimal – $100 (for comparison: in Massachusetts it's 5 times more) or $102 if you submit documents online. The expenses also include obtaining an annual business license, which is $50.
Why choose us?
US Business Services experts will quickly and accurately process your company registration in Wyoming, supporting you at every stage.
All services are provided remotely, without the need for personal presence, saving your time and giving you freedom of action.
We'll help with opening a bank account, annual reporting, and asset protection for the reliability and growth of your business.
