Company Registration in Wyoming

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The state of Wyoming is widely known for its favorable business environment, minimal regulation, and low taxes. Wyoming company registration can be an excellent choice for ambitious entrepreneurs looking to establish themselves in the American market.

Due to the absence of state corporate and income taxes, as well as franchise tax, the state of Wyoming business registration will contribute to significant cost savings. Additionally, your assets and confidentiality will be protected by state laws, while the simple and effective regulatory environment will simplify business management.

When making a decision about which organizational and legal structure to use, most entrepreneurs choose to create either a corporation or a Limited Liability Company (LLC). Each has its advantages:

  • An LLC is easier to manage, has fewer formal requirements, and no double taxation.
  • A corporation is more prestigious, with a long-standing legal precedent and built-in reinvestment management.

Of course, this list is incomplete. Whatever structure you choose, the services of SBSB Fintech Lawyers’ specialists will help you register company in Wyoming quickly, without risks and the need to be a resident or physically present.

Register LLC in Wyoming: Key Advantages

A Wyoming LLC is a hybrid of a partnership (from a tax perspective) and a corporation (in terms of the limited liability of the members). Such business structures are very common in the USA. Why choose Wyoming LLC registration:

  1. Wyoming was the very first state in the USA to allow the creation of LLCs.
  2. Unique Wyoming laws strongly protect the limited liability and assets of LLCs, even with a single member.
  3. Moreover, you are not required to provide personal data for Wyoming state LLC registration. Instead, the address of the SBSB Fintech Lawyers may be listed as the legal address in your founding documents.
  4. An LLC is taxed as a partnership with pass-through taxation. All company profit is considered to be the personal income of the members in proportion to their shareholding, in percentages: no division of the share capital into shares, no need for meetings.

Wyoming Corporation Formation

Corporations are considered the oldest business structure in the world: this fact adds a considerable amount of solidity and prestige to them, and centuries of business practice make court proceedings involving them predictable. This respectability also positively affects the perception of potential clients, who are more likely to trust the goods and services of corporations, as well as the favor of investors to raise additional financing.

Wyoming corporate registry begins with drafting its Articles of Incorporation, which the founders must coordinate with the Secretary of State of Wyoming. Company profit is paid out to shareholders in dividends from shares, and unlike LLCs, you can choose not to issue them but reinvest in the company. Thus, funds remain within the business, stimulating growth and ensuring debt repayment.

Benefits of Wyoming Corporation Registration

  • No personal income tax, corporate tax, or franchise tax.
  • No need for stock certificates.
  • No business license fees for most activities.
  • Filing fees are minimal.
  • No initial report after submitting an application and an open database search by company name. Business registration Wyoming is designed to maximize the confidentiality of your information.

How to Register Business in Wyoming

Wyoming company formation may have the following steps:

  1. Choose a company name. The name must be unique and include an abbreviated legal form (“LLC” for LLCs, “Corp” for corporations, etc.).
  2. Draft Articles of Incorporation or an operating agreement. Your company’s articles of incorporation should detail 2 main aspects: ownership (property rights) and company management structure.
  3. Submit documents to the Secretary of State for Wyoming state business registration. By law, SBSB Fintech Lawyers’ specialists can do this for you as a registered agent of Wyoming under your articles.
  4. (Optional): Apply to the IRS for an Employer Identification Number (EIN). It is used as an identifier for your company for federal tax purposes.
  5. Submit a Beneficial Ownership Report (BOI) to the Financial Crimes Enforcement Network (FinCEN) — not the easiest report to compile, required for almost all corporations and LLCs in the USA.
  6. Open and maintain a business bank account in the state of Wyoming.
  7. Obtain a business license for Wyoming company incorporation — only for those companies whose business activities are regulated and require licensing.
  8. Apply for employee compensation and unemployment benefits if you plan to hire employees. This type of insurance and compensation can be registered online.
  9. Register with the Department of Revenue. Although Wyoming has no corporate or income tax, sometimes this procedure is still necessary.
  10. File an annual report with the Secretary of State of Wyoming. Companies that fail to do so will be compulsively dissolved within 2 months.

Cost to form LLC in Wyoming or register a corporation will depend on the required service package. SBSB Fintech Lawyers can pick up your project at any stage of creation and implementation. We will provide comprehensive legal support for your business, taking into account all its features. Leave a request on the website, and we will contact you to discuss the details.

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Ivan Nevzorov

Head of Fintech Department

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