News: Registration of Company in USA - Wyoming

The state of Wyoming is located in the west of the USA. Wyoming is best known in the world for the national park (Yellowstone). The motto of the state of Wyoming is "Equal rights".

In 1977, Wyoming became the first state in which legislation on LLC was drafted and adopted.

Company registration in the state of Wyoming

Registration of offshore companies in the state of Wyoming (USA) is controlled and conducted by the State Secretariat.

Liberal corporate legislation of the state is the main reason according to which entrepreneurs are tending to register or buy offshore company in Wyoming. Thus, the state has one of the leading places by the number of registered companies in the USA.

Advantages of registering company in Wyoming

• There are no corporate income tax or income tax in the state.
• Lack of requirements on citizenship of directors and shareholders of the company.
• lhere is no collection and publication of information about shareholders.
• Legislation and judicial practice of the state provides for high level of legal protection of business.
• Jurisdiction of the state is popular for establishing family trusts.

Forms of doing business

In Wyoming (USA), it is possible to register such forms of business:

• Limited Liability Company (LLC), which is the most popular form of business registration in Wyoming (USA).
• Corporation (C-corporation ad S-corporation);
• Sole Proprietorship;
• General Partnership;
• Limited Liability Partnership;
• Statutory Trust.

Registration of LLC in Wyoming. Peculiarities.

The company's activities are governed by legislative act of the state of Wyoming (Wyoming Statutes (W.S.)) Wyoming Uniform Limited Partnership Act (W.S.17‐14‐201etseq.).

The company can conduct any activity permitted by law. Banking, insurance and reinsurance activities are subject to licensing.

The registration of company in Wyoming takes 3-5 days from the date of submitting documents, but the time to compile and legalize the documents is also required.

Features of LLC registration in Wyoming (USA)

• The company name can be prepared in any language, using the Roman alphabet. It should not be identical or similar to already existing one in the state.
• The name of the company should contain its organizational and legal form (for example, Limited Liability Company), or such abbreviations as: "LLC", "L.L.C.", "LC", "L.C.", "Ltd.Co.", "Limited Co.", "Ltd. Company".
• The name of the company should not contain words indicating that the company is organized for the purposes prohibited by law.
• If the company is engaged in providing professional services, then the foregoing should also be indicated in the name.
• The company's initial capital shall be declared.
• Minimum number of participants is one person. There are no requirements for age and residence of shareholders. They can be natural or legal persons.
• The rights of the director are determined by memorandum or charter of the company.
• The company in Wyoming is managed by all participants, each of whom has equal number of votes.
• When using nominal service, the company is managed by benefitial owner on the basis of power of attorney. Banking transactions are similarly managed.
• Banking transactions are confidential, and the number of accounts required for functioning of the enterprise is unlimited.

Stages of company registration in Wyoming

1. Selecting the company name. It is possible to reserve the name for 120 days upon payment of the fee.

2. Submission of the company's charter to the State Secretariat.

3. Appointment of the agent in the state.

4. Submission of the form for registration of the company.

5. Payment of state duties.

6. Waiting for information processing in the State Secretariat.

7. Obtaining confirmation of consideration of the application for registration of the company.

8. Submission of reporting of the company.

Bookkeeping of the offshore LLC in Wyoming (USA)

The company shall submit annual report after 12 months following the registration.

If the LLC does not have the taxpayer’s number and does not conduct activities within the territory of the state, it is not obliged to submit reports.

Taxes of the offshore LLC in Wyoming.

In Wyoming, income tax on turnover is not levied. However, Wyoming company shall pay 21% Federal corporate income tax, if the company has generated profit from the United States.

Buying company in the USA in the state of Wyoming is now easier than ever. We will register ready-made company in the USA in the state of Wyoming for you within the shortest time possible.

Registration of company in the USA in the state of Wyoming is one of the simplest and cheapest ways to start legitimate international entrepreneurial activity. Registration of companies is one of the main directions of our work.