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Why form an offshore company in Wyoming
A Wyoming LLC as a tax-free offshore entity offers certain benefits not offered by most tax havens, be it the Cayman Islands, Singapore, Isle of Man, BVI, Seychelles, Belize, etc. What makes a Wyoming LLC unique is that basically it cannot be compared to other offshore jurisdictions due to the amount of benefits it compiles, these features are:
0% Income Tax
Foreign-sourced income is not subject to State and Federal taxes. Having US Clients is not US Sourced.
Quick formation and low requirements
Opening an offshore company in Wyoming takes less than 24 hours, and we only need to verify your passport to open the company. No need to go under intrusive KYC.
Payment gateways
Wyoming LLCs can open accounts in payment gateway platforms like Stripe and others to process card payments online.
No economic substance requirements
Wyoming LLCs are not subject to economic substance requirements, or assessment, meaning, the company can operate in the U.S. without the legal obligation to have offices or employees in the U.S
High level of privacy
Company ownership or management information cannot be found on public records
Access to U.S. and foreign banks
Wyoming LLCs can open U.S. Bank remotely, which are not part of the CRS, and also bank accounts in other offshore jurisdictions, including Europe and Asia.
Very low formation and maintenance cost
Wyoming LLCs are one of the cheapest and easiest offshore companies to form and maintain.
Great option for online business or store, digital nomad, and service providers
Widely used by e-commerce businesses, digital nomads, and service providers thanks to its tax-free status and access to digital tools.
Our Services in Wyoming
We at Offshore Affairs provide tax exempt offshore company formation in Wyoming, USA, to non-residents and foreigners. We also provide to our clients company management related services, including, but not limited to:
Wyoming LLC Formation
All you need to start a Wyoming LLC, including Company Formation, Tax Registry, bank account opening assistance, registered agent, beneficial ownership report, and more
Company Management
Everything to keep your Wyoming LLC compliant, fulfilling and managing your yearly state and federal obligations
Tax Counseling
We provide you State and Federal tax counseling, along with international tax counseling, so you have peace of mind when it comes to your tax affairs
Why Us?
Offshore Affairs is an International Law Firm specialized in Offshore Company Formation, hence we focus on the formation and management of US formed companies that are tax-exempt.
By forming your LLC with us, you make sure that you are opening an offshore company in the US with a service provider that totally understands your international tax planning purposes, and is able to provide company management service that are focused on your type of entity, US LLC used as an offshore company
Legal Privilege - Confidentiality
Offshore Affairs' Wyoming LLC related services are provided by an international lawyer, hence your communications between our CEO and yourself are legally protected under lawyer-client privilege.
Wyoming LLC Formation
How to Open a Wyoming LLC
1- Fill out our form
Fill out our Wyoming LLC Formation Form, where we will ask you for the basic information.
2- Passport Verification
After your form is submitted, we will send you a link for you to take a live photo of your passport.
3- Payment
Once you have filled out our form and performed the ID verification, we will send you a payment link.
* To open your Wyoming LLC, we don't need notarized documents or your proof of address.
Timeline
Forming a Wyoming LLC takes less than 24 hours, allowing you to start operating and trading immediately, except for activities requiring an EIN. The EIN application typically takes about two weeks to process after submission, and it is essential for tasks like opening bank accounts or registering on platforms. The Beneficial Ownership Information report to FinCEN can only be submitted once the EIN is obtained. While most banks require an EIN for account opening, platforms like Wise may allow you to initiate the process without it. Overall, completing the entire setup, including obtaining the EIN and opening a bank account, takes approximately three weeks.
Wyoming LLC Formation Pricing
Wyoming LLC Offshore Company Formation
(For non-resident foreigners)
US$ 675
Wyoming LLC Articles of Organization
EIN for non-resident foreigner.
State Filling Fee
Registered Agent and Address for a year
Beneficial Ownership Information report to FinCEN.
Bank Account Opening Guidance
Operating Agreement Template
Personalized Wyoming State and Federal Taxation counseling, including international taxation.
Personalized Wyoming LLC Company Management counseling.
Wyoming LLC Taxation
0% Income Tax
US LLCs are taxed based on their tax classification. US LLCs owned by a single member who is a foreigner will be classified as a foreign-owned US Disregarded entity, which will not pay US federal nor State taxes if it does not have US-sourced income or effectively connected income. If the LLC has two members or more, regardless of their residency, it will be taxed as a partnership.
EIN For a Foreign Owned Wyoming LLC
The EIN is your LLC's federal tax ID. This EIN is requested by banks to open your account, to register on platforms, payment gateways, etc. It is also used when filling out your Wyoming LLC's information returns.
Non-Resident foreigners can obtain this EIN without having a Social Security Number or having an ITIN.
The Employer Identification Number (EIN), or the LLC tax number, is obtained by filling SS-4 before the IRS.
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.
You can check our EIN guide below
How are Wyoming LLCs Taxed Guide
US Sales Tax
U.S. Sourced Income
Wyoming LLC yearly maintenance and annual fees
Wyoming LLC yearly Compliance
Yearly Compliance
State Compliance
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Registered Agent and Address Renewal
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Annual Report before Wyoming Secretary of State
Federal Compliance before the IRS
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Form 1020 Pro Forma.
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Form(s) 5472.
Bookkeeping for a Foreign-Owned Single Member LLC
Single Member LLCs owned by a foreigner need to report, after the calendar year ends, the transactions between the LLC and the Owner, including related parties.
We offer our clients an automatized digital ledger book so they can easily keep records of the reportable transactions without the need to hire the services of a bookkeeper.
Our digital ledger is designed in accordance to the yearly federal reporting requirements of the LLC.
Beneficial Ownership Information Report to FinCEN
Starting January 1st, 2023, newly formed companies have to report their owner and persons of significant control information to FinCEN. Information to be reported includes the owner's name, address, passport information and image, company name, address and EIN, plus the organizer's information as well. This information has to be reported within 90 days after the company has been formed.
Economic Substance Requirements for Wyoming LLCs
LLCs formed in Wyoming, or any other state, are not subject to economic substance requirements. This means your tax exempt US LLC will not need to prove it is a tax resident in another jurisdiction in order to keep its tax-free status, won't have to fill out every year a form saying the LLC didn't engage in "relevant activities", the LLC won't need to have an office space or employees in the USA by virtue of ESR, etc. This applies to both LLCs treated as a foreign-owned US disregarded entity (single member LLC) or an LLC with a Partnership tax classification.
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, and timeframes, vary in each and 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, Airwallex, 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 a higher minimum deposit. These requirements include a proof of address in 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.
Some Fintech Banking options available for a Wyoming LLC
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Opening fee: free.
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Foreign Currency Accounts: local bank accounts with account details available in USD, EUR, SGD, GBP, CHF, CAD, NZD, AUD, HKD, JPY, CNY.
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Multicurrency wallet: up to 40 different currencies.
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Business card: multicurrency virtual visa card with company name.
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Employee card: Physical and Virtual multicurrency cards available under your personal name, or employees.
Ready to form your Wyoming LLC?
We have helped hundreds of companies register their businesses in Wyoming and open their bank account, get Stripe, and more.
We also have helped them set up their international tax strategy, and yearly compliance.
Founder & CEO
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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.