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Wyoming LLC Formation and Bank Account  

Open a company in the USA, get an EIN (tax number), offshore bank account, registered agent and address, and more...

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*No Payment is Requested at the end of the form.

Our Services in Wyoming

We provide company formations in Wyoming to Non-Residents, Foreigners, Residents, and US Nationals. Our services includes, but are not limited to:

  • Wyoming LLC Formation

  • Open company in the USA

  • Wyoming Registered Address and Agent.

  • Annual Report

  • EIN for Foreigners

  • US Bank Account and Offshore Bank Accounts

Executive Summary

Wyoming, a State of the United States of America, is one of my favorite jurisdictions to form a low o no tax company. These are the main reasons:

  • It is relatively very cheap and very fast to form a company here. Company formation can be achieved the same day.

  • The U.S. is not part of the Common Reporting Standars, giving you a higher level of privacy.

  • 0% State tax if you don't trade within the State, and 0% Federal Taxes if you don't engage in U.S. Trade or Business.

  • Easy to open U.S. bank account remotely (online) under the name of the entity. There are several banking options.

  • Very good option to open offshore bank accounts under this entity, for example in Liechtenstein, Singapore, Isle of Man, UK, the Caribbean Islans, or any other jurisdiction as U.S. Companies have a lot of international prestigue.

  • Cheaper than Delaware as in Delaware LLCs pax an annual fanchise tax of around 300 USD per year, while in Wyoming you would only pay 50usd.

  • If you intend to engage in U.S. Business or Trade, a good option for tax planning purposes.

  • Great for any type of business.

 

Timeline

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Wyoming LLC Articles of Organization

A Wyoming LLC is formed by filling the Articles of Organization before the Secretary of State. The Articles of Organizations can be filled and submitted online, by mail or in person. 

The Articles of Organization requires the following information to be submitted:

  • Name of the LLC

  • Duration of the LLC, which can be perpetual.

  • Registered Agent Name and Address.

  • The LLC's main place of business and mailing address.

  • Organizer information. 

  • Additional articles.

When filling the Articles of Organization it is not required to disclose who owns the LLC, but when filling it, it must be filled correctly so we avoid the owner's name or address to be disclosed unnecessarily in case the owner wants privacy, as this information will be shown on the public records and cannot be deleted.

The Secretary of State does not require domestic LLCs to submit their Operating Agreement.

Wyoming LLC Operating Agreement

A Wyoming LLC Operating Agreement is a document that sets out the rules that will regulate the LLC, the relationship of the Members, etc. It contains, at a minimum, the following clauses, regulation, and/or information:

  • LLC legal name.

  • Initial registered agent name and address.

  • How it is manager (Member Managed or Manager Managed).

  • Interest ownership percentage of its members.

  • How it will elect to be taxed.

  • Rules for holding meetings, and voting rights, quorum, etc.

  • Profit and los allocation.

  • Duration.

  • Dissolution.

  • Heirs rights.

  • State and date of formation

  • Initial contributions made by the members.

The Operating Agreement is an internal document, but it can be asked by some banks when opening a corporate bank account, or when requesting a credit. 

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EIN For Non-Resident Foreigners

The Employer Identification Number (EIN), or the LLC tax number, is obtained by filling SS-4 before the IRS. This EIN number is required in order to open a Bank Account as banks will ask for the EIN Confirmation Letter, filling your yearly tax return, etc.

Non-Residents and/or Foreigners cannot generate the EIN online and automatically since they don't have a Social Security Number. SS-4 applications by foreigners is received only by mail or by fax, being fax the fastest way to obtain the EIN number from the IRS, taking about 1 to 2 weeks.

Along with the SS-4, copy Articles of Organizations approved by the Secretary of State have to be attached.

 

Features

Banking

Can open U.S. bank accounts and Offshore Bank Accounts. High privacy, no CRS. (the U.S. has another version). Access to Payment gateways such as Stripe and PayPal.

eCommerce

Widely used by digital entepreneurs, from Dropshipping, FBA, Freelancers, Writers, to any other type of online business.

Low Maintenance

If not engaged in U.S. trade, only information reports. Form 5472 and 1120, both for information reporting purposes. At the State level, only Annual Information Report 

Asset Protection

Can be used to acquire any type of property, from Real Estate, to gold, yatchs, etc, in the U.S. and in other parts of the world.

Taxation of a Wyoming LLC

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A Single Member LLC owned by Foreigner without US Sourced Income may not be subject to US Income Tax.

A Wyoming LLC will be taxed depending how many members own the LLC, where is the Member from, and if the income is US sourced or not.

Single Member LLC owned by a Non-US Person

This entity type is the most common used for those who want to form a Wyoming LLC as a "tax exempt company.

  • Classified as a Foreign Owned US Disregarded Entity.

  • Taxed as a pass-through entity.

  • Income is subject to tax only if it is US Sourced Income.

What is US sourced income? 

An income will be considered US Sourced depending on the nature of the income. 

For example, what determines if salaries, wages, other compensation are US Sourced, is where the services are performed. If it is performed in US soil, it will be considered US sourced and might subject to withholding tax, income tax, etc.

On the other hand, what determines the source of Royalties, "Where property is used", so if a person in US soil buys your book, you might be subject to withholding tax before receiving the Royalty Payment.

You can check the factors that determine the income source here: 

https://www.irs.gov/individuals/international-taxpayers/nonresident-aliens-source-of-income

 

Other classifications

Multi-Member LLC owned by Foreign Members: taxed as a Partnership.

 

Single Member LLC owned by a US Person, or Multi Member LLC owned by several US Persons.

  • Can be taxed either as:

    • Sole Proprietorship for Single Member LLCs, or Partnership for Multi Member LLC.​ 

    • Corporation

    • S-Corporation​

 

Wyoming LLC yearly maintenance and annual fees

The yearly ongoing costs will depend on several factors, and mainly on the way the company is taxed. Compliance requirements are at a State and Federal Level.

State Compliance:

In general, State Compliance,

Annual Report: US$60. State Fee.

Professional Fee for Filling Annual Report: $100

Registered Agent and Address: this price will depend on the service provider hired. Our option is US$25 per year.

Federal Compliance:

Federal requirements, hence costs, will depend on your tax classification.

Yearly compliance of a Single Member LLC owned by a foreigner not engaged in US trade or business,

Form 1120 (Pro Forma) and 5472: starting at +$250

Total Estimated Price for state and federal Compliance: US$435.

Federal yearly obligations:

 

The Wyoming LLC yearly federal obligations will depend mostly on whether the LLC is owned by a non-resident foreigner, or a US person, and how many Members the LLC has.

  • One Foreign Owner, Non-Resident: LLC is classified as a Foreign-owned U.S. Disregarded Entity.

  • Two Foreign Owners: LLC is taxed as a Partnership, and the LLC is subject to 

 

 

In here we will focus a single member LLCs owned by a non-resident foreigner, as they are the most popular for tax purposes.

Taxation of a Wyoming LLC with one Foreign Owner

(Foreign-Owned US Disregarded Entity)

US Single Member LLCs owned by a non-resident foreigner are classified as Foreign-Owned US Disregarded Entity for tax purposes, hence the LLC itself does not file a federal US tax return.  What they file is an information return comprised of (1) form 1120 Pro Forma, and (2) form 5472

Form 1120 For Foreign-Owned US Disregarded Entity

 

What is form 1120?

 

Form 1120 U.S. Corporation Income Tax Return is a form filled by the U.S. Corporation as their tax returns, but domestic Disregarded Entities wholly owned by one foreign person or company (single member LLC) are required to file form 1120 Pro-Forma, so basically only the top section of the form which requires basic information of the company must be filled.

 

How to fill form 1120?

 

  • On top of the form you must add the phrase “Foreign-Owned US Disregarded Entity”

  • Fill section requiring the company name and address.

  • Add Employer Information Number (EIN) on section B.

  • Check the appropriate box in section E (1) or (2). Leave empty if none applies.

  • Sign at the bottom of first page, add date.

 

Form 5472

 

Form 5472 is what we call an information return, and not a tax return. In this form, we report information on the transactions between the LLC and the foreigner owner(s) or any other related party, like a company owned by the Owner(s) - except for other US companies - or relatives.

 

The company has to fill one form 5472 for each owner or related party that had a transaction with the company. These transactions include royalty payments, salaries, licenses, donations, loans, etc.. We also have to report transactions that had no monetary value, such as royalty-free licenses.

 

It is worth noting that also the expenses for forming the company are reported if those expenses come from the owner or a related party.

Where to mail: form 1120 and 5472 are mailed or faxed to a different address than the one set for corporations who fill 1120. It is better to confirm this address each year to avoid relying on information not updated.

 

When to file form 1120 and 5472 for a Foreign-Owned US DE Entity: you must file it before around the second week of April.

 

Pricing

All-Inclusive

$500

All you need to form a Wyoming LLC as a non-resident foreigner

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Wyoming LLC Articles of  Organization
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EIN for non-resident foreigner.
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State Filling Fee
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Registered Agent and Address for a year
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Extra: Free referral to one or two of our fintech banking partners. 
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Extra: Free Single Member LLC Operating Agreement Template

Yearly Compliance

$435

Yearly compliance of a Single Member LLC owned by a foreigner not engaged in US trade or business

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State Annual Report including State Fee: State Fee $160
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Registered Agent and Address
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Form 1120 (Pro Forma) and form 5472: +$250
Yearly compliance pricing are estimates. These prices may vary due to several factors related to your tax and company situation.
 

FORM YOUR WYOMING
LLC RIGHT NOW

Contact us by filling this form, or by sending an email to

jffc@offshoreaffairs.com

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Bank Accounts for a Wyoming LLC

One of the main needs of our clients when opening a company in Wyoming is the bank account.  The banking options we provide to our clients will depend on their specific business activity, nationality, where clients are based, among other factors.

When opening a bank account for a Wyoming LLC, you can open a bank account in a bank located in Wyoming, or a bank located in another State within the USA, or in another country like the Bahamas, Singapore Cayman Islands, or any other country. You can also pick a "traditional bank" or a "fintech".

Bank account opening requirements, timeframes, varies in each an all scenarios and cases.

Fintech Banks: For some non-resident clients, a quick and cost saving solution, with no travel requirement and very low minimum deposit, is to open a Wise or Mercury account.

US Traditional Bank Account: as a non-resident, you can open a bank account in a traditional bank, with extra KYC/AML requirements and higher minimum deposit. These requirements include a proof of address sin the USA or in the State where the bank is located (utility bill or lease agreement), personal visit (no remote opening).

 

Offshore Banks: the Wyoming LLC can surely open a bank account in any other jurisdiction either in Europe, Asia, the Caribbean, Africa, as long as it complies with all the requirements.

A couple fintech options:

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in partnership with
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We have partnered with Wise in order to provide you a perfect solution to your needs
  • Multicurrency Business Account.
  • No need to wait for EIN.
  • Can be connected to Stripe or PayPal.
  • Opened online, almost instantly
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in partnership with
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We have partnered with Mercury to provide banking solution to clients who will have US customers.
  • Debit card.
  • Remote Opening
  • Can be linked to Stripe and PayPal.
  • get $250 cash when you spend $10K on your debit card within 90 days
 
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Download our brochure in PDF Format

FAQ

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Disclaimer: Nothing on this website shall be considered nor be a substitute for legal, tax, or financial advice. Please contact your licensed advisor for legal, tax, or financial advice.