The company is the easy part. The EIN and the bank are the project.

Nevada, Texas and Wyoming charge no state income tax. That is a fact about one line of the bill and not about the rest of it - federal tax follows the owner and the entity, and the state where you actually do business can reach you whatever the certificate of formation says. We choose against where you operate, where you bank and where you are resident, and we say so before you pay when the right answer is a company somewhere else entirely.

9
North American jurisdictions
6,000+
companies registered
70+
banking relationships

Updated

Where we register

All nine - this is the whole category, not a shortlist

Delaware flag
Delaware
LLC / C-Corp
LLC or C-Corp, filed in one to three daysC-Corp 21% federal; the LLC is pass-throughLLC franchise tax is a flat $300 a year
1-3 days · EIN 2-8 weeksTax: C-Corp 21% · LLC pass-throughMore details →
Wyoming flag
Wyoming
LLC / Corp
The state that invented the LLC - filed in one to three daysAnnual report from $60, and no public register of membersNo state income tax; the federal picture is Delaware's
1-3 days · EIN 2-8 weeksTax: NoneMore details →
Nevada flag
Nevada
LLC / Corp
No state income tax; Commerce Tax only past $4M of revenueAbout $350 a year for an LLC, $650 for a corporationOfficers go on a public list - this is not the privacy state
1-3 days · EIN 2-8 weeksTax: NoneMore details →
Texas flag
Texas
LLC / Corp
No state income tax, personal or corporateFranchise tax is $0 below $2.47M, then 0.375-0.75%No annual report fee at all
1-3 days · EIN 2-8 weeksTax: None - personal or corporateMore details →
California flag
California
LLC / Corp · often DE + CA qualification
8.84% corporate, and an $800 minimum every year regardlessRoughly $700k of California sales triggers doing business hereThe fourth-largest economy on earth, and where the capital sits
1-5 days · EIN 2-8 weeksTax: 8.84% · LLC min $800/yrMore details →
Canada flag
Canada
LP · Limited Partnership (Ontario)
LP in Ontario, registered in two to five business days0% in Canada - the partners are taxed insteadNo minimum capital, no audited accounts, fully online
2-5 business daysTax: 0% - transparent entityMore details →
Alberta flag
Alberta
Corporation / Alberta LP
Corporation or Alberta LP, filed in one to three days23% combined - 8% provincial plus 15% federalNo director-residency requirement; GST 5% only, no PST
1-3 daysTax: 23% - 8% AB + 15% federalMore details →
Mexico flag
Mexico
SA de CV / S. de RL
SA de CV or S. de RL - two to four weeks, plus the RFC30% corporate tax with a 10% employee profit share on topIVA at 16%, or 8% in the border zone
2-4 weeks + RFCTax: 30% + PTU 10%More details →
Bermuda Islands flag
Bermuda Islands
Exempted company
Exempted company, vetted by the BMA in one to two weeksNo income tax; 15% only for groups above €750MA third of the world's reinsurance capital, and courts London trusts
1-2 weeks - BMA-vettedTax: None · 15% for €750M+ groupsMore details →
The part that ends badly

A filed company with no tax number and no bank account is not a business

The state gives you a certificate in one to three days and then everything stops. The two things that make the company usable are not issued by the state, and neither of them is quick when the owner is a non-resident.

The EIN is applied for after formation and takes 2-8 weeks without an SSN or ITINMost US banks decline a foreign-owned company with no US address, staff or customersSeveral banks still want the signatory in person, and no letter changes thatMiss the annual report and the state dissolves the company. Reviving it costs many times the fee you forgot
This is why the first question we ask is where you intend to bank, not which state you like the sound of.
Ask what would actually work →
When it does work

The cases where a North American company is the right answer

Most of them are ordinary. The company follows a real operation, a real investor or a real counterparty, and when it does, none of the questions above are hard.

US investors ask for a Delaware entity by name, and the Chancery Court is whyYou genuinely sell into the US and need a US bank, processor and contracting partyYou need G7 paperwork without Canadian tax. An Ontario LP with non-resident partnersYou are on the ground: manufacturing under USMCA in Mexico, or regulated insurance and funds in Bermuda
Each of these points at a different state or country, and the reasons have very little to do with the headline rate.
Get a free legal opinion →
What registration covers

What we do, and what you get at the end

Incorporation is the easy part. The work is choosing correctly, satisfying the registrar and getting a bank account opened afterwards.

These include:
Choice of jurisdiction and legal form against your real activityName check, incorporation and the full corporate document setRegistered office and registered agent for the first yearBeneficial ownership filings where the jurisdiction requires themApostille and legalisation of documents for use abroad
Additionally, where it is needed:
Bank or EMI account opening, with 70+ relationships behind the applicationNominee or resident director where the law requires oneSubstance. Office, staff and local presenceAccounting, annual returns and tax registrationLicences, permits and sector approvals

Several of these jurisdictions now require annual filings and substance reports that did not exist five years ago. We keep them filed.

WhatTypical timeWhat you receive
Name approvalSame day to 3 daysReserved company name
Incorporation1 day to 8 weeksCertificate, charter, register of members
Corporate documentsWith incorporationResolutions, share certificates, POA
Apostille set3-10 business daysLegalised documents for the bank
Tax and social registration1-3 weeksTax number, VAT where applicable
Bank account2-8 weeksIBAN and access to the account

The bank is the slow step everywhere, and it is the one that decides whether the structure was worth building. We start it in parallel, not after.

Comparison of jurisdictions

All nine, with the filing time and the rate that actually applies

The tax column is not one measure. For the US states it is the state line only; federal tax is a separate bill charged on the same profit under different rules. Read it with the panel above in mind.

01
Fastest to file

Delaware, Nevada, Texas and Wyoming file in one to three days, and so does the Alberta registry. California takes one to five. None of that includes the EIN.

02
No state income tax

Nevada, Texas and Wyoming charge none. Nevada picks up a Commerce Tax only past $4M of revenue and Texas a franchise tax only above $2.47M, but the federal layer sits on top of all three and does not move.

03
Transparent, not exempt

A Canadian LP shows 0% because it pays nothing itself. The partners are taxed where they live. A Delaware or Wyoming LLC is the same shape by default.

04
Real rates in real markets

California 8.84% with an $800 minimum, Mexico 30% plus a 10% employee profit share, Alberta 23% combined. Bermuda charges no income tax at all, and 15% only on groups above €750M.

JurisdictionLegal formTime to set upCorporate taxRemote
Important: Two lines here are transparent rather than low-taxed. Canada's 0% is the Ontario LP paying nothing while its partners pay at home, and a Delaware or Wyoming LLC works the same way. Alberta is the opposite case. An Alberta corporation is a Canadian tax resident taxed on worldwide income, and the 23% is the combined figure, 8% provincial plus 15% federal.

No line here is a recommendation on its own. Where you actually do business decides more than the state on the certificate, and the bank decides more than either.

Before you register

What the registry, the tax authority and the bank each want

The registry's list is short and takes days. The other two lists are the ones that take weeks, and nobody mentions them when they quote you for a formation.

01
Passport and proof of address Certified copies for every member, director, officer and beneficial owner. The US registries ask for very little at this stage. The bank asks for all of it later.
02
A registered agent in the jurisdiction Mandatory in every US state and in Alberta. A physical address that accepts service of process, renewed every year. Letting it lapse is how companies quietly stop existing.
03
A described business activity Not "consulting". What you sell, to whom, from where and how you get paid. The registry rarely asks. The bank asks three times and compares the answers.
04
A tax number - the EIN, or the RFC The EIN is applied for once the company exists and takes 2-8 weeks without an SSN or ITIN behind the application. In Mexico the RFC is the same bottleneck under another name, and the SAT sets that timeline, not your notary.
05
A bank that will open for a non-resident The hard part, and hard for an understandable reason: a foreign-owned company with no US premises, no US staff and no US customers is a file most US banks decline. Choose the bank before you choose the state.
06
Source of funds Documented, not asserted. More applications fail here than on anything to do with the choice of jurisdiction.
07
Beneficial ownership disclosure Expected by the bank in every case and by the registry in some. Nevada puts your officers on a public list; Wyoming keeps no public register of members. Neither fact hides anything from a regulator or a bank.
08
Foreign qualification where you actually operate File in Wyoming, operate in California, and California will want you registered there as well. Roughly $700k of California sales is where that test bites. Then you file and pay in both places, which is the opposite of the saving intended.
09
The annual filing, which is small money and easy to forget Wyoming from $60, a flat $300 for a Delaware LLC, about $350 for a Nevada LLC and $650 for a Nevada corporation, no annual report fee in Texas, an $800 minimum in California whether you traded or not. Miss it and the state administratively dissolves the company.
10
Reporting at home, and reporting to the IRS A foreign-owned US entity has federal information returns to file even in a year when it owes no US tax, and your own country's CFC and foreign-company rules do not stop applying because the company is American. We set out both before you commit.
Note: If you have no US customers, no US address and no plan for a bank, deal with that before you choose a state. The filing is the cheapest step here and the least of the problems.
On the ground

Seventeen offices, our own people

Hong Kong flag
Hong Kong
Hong Kong
5/F, Yau Lee Centre, 45 Hoi Yuen Road, Kwun Tong
+852 5808 0297
Czech Republic flag
Prague
Czech Republic
Vlkova 532/8, Žižkov
Germany flag
Berlin
Germany
Rankestraße 26
Singapore flag
Singapore
Singapore
3 Church Street, #29-68 Samsung Hub
Thailand flag
Bangkok
Thailand
Unit P01, Penthouse, VASU1, 1 Sukhumvit 25 Alley
China flag
Foshan
China
A-Tower, Yuneng Digital Plaza, 46 Lishui Avenue South
Kyrgyzstan flag
Bishkek
Kyrgyzstan
32 Razzakov Street
How it works

Five stages from first call to a working account

STEP 01
The opinion

Where you live, where you work, where you will bank and what the company will do. Out of that comes a jurisdiction, a legal form and a written reason. Free.

STEP 02
Documents and name

Certified passports, proof of address, the activity description and a name the registrar will accept. Translations and legalisation where they are required.

STEP 03
Incorporation

Filed by us or by our local partner. You receive the certificate, the constitutional documents and the registers.

STEP 04
Legalisation and the bank

Apostille where the bank needs it, then the account application. Started in parallel with the incorporation, not after it.

STEP 05
Keeping it alive

Registered agent, annual return, accounting and the substance filings. The part people forget until the company is struck off.

Why Prifinance

Why this is worth paying a lawyer for

Anyone can file an LLC online in an afternoon. What you are paying for is the EIN that actually arrives, the account that actually opens and the state you should have filed in.

01
6,000+ companies, so the ways this stalls are familiar

The EIN application returned three weeks later over one wrong field, the bank that wanted one more document, the state that dissolved a company nobody was watching. None of it is new to us.

02
The bank is chosen before the state is

70+ banking relationships, and we know which of them will look at a foreign-owned US company with no US premises and which will not open the file at all.

03
We say no when the state is the wrong question

If you sell into California from California, filing in Wyoming saves nothing and adds a second registration. You hear that before you pay, not at the first filing.

04
The federal question is answered on your facts, in writing

Whether your profit is effectively connected with a US trade or business, what is withheld at source, whether a treaty helps. That is an opinion on your circumstances, not a paragraph on a website.

05
Somebody keeps the company alive afterwards

Registered agent, annual reports, franchise tax and the Texas report that carries no fee but still has to be filed - from the same team that formed the company.

Your team

The people who will run your file

Dmitri Mihhailov
Dmitri Mihhailov
General Partner

Leads Prifinance's corporate practice and oversees client engagements, with senior expertise in international company structuring and bank-account setup.

Eugeniu Bevziuc
Eugeniu Bevziuc
Corporate services advisor

Corporate services and compliance: documents, legalisation, annual filings and the bank's questions.

Alex Danila
Alex Danila
Company formation specialist

Your day-to-day contact - coordinates incorporation, documents and the bank introduction, from the first call through to launch.

Follow Prifinance

Active across our channels.

Good to know

Four things about tax that change the answer

The rate in the table is one layer. Which layers reach you depends on the entity you chose and on where the income is actually earned.

State tax and federal tax are two different bills

Nevada, Texas and Wyoming charge no state income tax. That says nothing about the federal layer, which is charged on the same profit under its own rules and does not care which state you filed in.

An LLC is transparent; a C-Corp is not

An LLC files and its members are taxed. A C-Corp pays 21% federal itself, and the shareholders are taxed again when the money comes out. Choosing between them is a tax decision dressed up as a form on the state website.

Effectively connected income is the whole question

Profit connected with a US trade or business is taxed and filed in the United States. US-source income that is not connected is handled by withholding at source instead. Which of the two you are in turns on where the work is done, by whom, and what you sell.

Where you file is not where you owe

A doing-business nexus in the state you actually operate in overrides the state you chose. California starts asking at roughly $700k of California sales, and then you register there and pay there as well.

Important: None of this can be settled from a table. Effectively connected income, withholding, treaty relief and your own country's CFC rules turn on facts we have to see, so we give that advice in writing on your circumstances, and we would rather tell you the structure does not work than let you discover it at the first filing.
Client notes
Google4.7★★★★★

Founders who wanted it done right.

Google4.7★★★★★
★★★★★Google
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
K N
K N
Google
★★★★★Google
“I had their assistance in company registration and I would recommend them. They were answering all my clarification during the process and offering all their supportThank you Daniel and Irinia”
Mina Kedis
Mina Kedis
Google
★★★★★Google
“We found PRIFINANCE COMPANYvia the Internet and asked for help in organizing the opening of their company in Estonia. PRIFINANCE COMPANY specialists helped us a lot with this. Their professional, competent approach and knowledge of their business left us with only the best impressions.”
Юрий Валерьевич
Юрий Валерьевич
Google
★★★★★Google
“I'm thrilled with my experience with PriFinance! They helped me obtain a crypto license in Estonia without any hassle. The team was super understanding and always available to answer my questions and assist. It was great to see how they put effort into preparing the documents to ensure everything went smoothly. I'm delighted with the outcome and highly recommend PriFinance to anyone looking to get a license…”
Anna Anna
Anna Anna
Google
★★★★★Google
“Opening an account with Prifinance in a Swiss bank was such an easy and quick process that I was shocked. It all started with the first call, where I received detailed guidance on the required documents and the entire procedure.One of the key highlights was their attention to detail. As someone who usually gets tangled up in paperwork, I was pleasantly surprised when they sent me all the documents and…”
Анастасия Одокиенко
Анастасия Одокиенко
Google
★★★★★Google
“I recently had the pleasure of working with Boris.. and I must say, it was a fantastic experience. Boris went above and beyond to assist me with my residency needs. His professionalism, knowledge, and dedication truly stood out. I highly recommend working with Boris and the team!”
Maria Jose Santome
Maria Jose Santome
Google
FAQ

What people ask before choosing a state

Which of these is fastest?+

Delaware, Nevada, Texas and Wyoming file in one to three days, and Alberta the same. California is one to five days and an Ontario LP two to five business days. For any US company the EIN then adds 2-8 weeks on top.

How long does the EIN really take?+

2-8 weeks when there is no SSN or ITIN behind the application. It cannot be applied for until the company exists, and nothing downstream - bank, payroll, payment processor - moves before it arrives. Anyone promising it in days is guessing.

Can I open the US bank account without flying over?+

Sometimes, and not reliably. A non-resident owner with no US address, no US staff and no US customers is a hard file for most US banks, and several still want the signatory in person. We tell you which banks are realistic for your business before you form anything, because the answer sometimes changes the plan.

Which state should I choose?+

Mostly on cost, on privacy and on where you actually do business. Wyoming is the cheapest to keep at $60 a year with no public member register; Delaware costs a flat $300 and is what investors expect; Nevada is dearer and puts officers on a public list; Texas charges no annual report fee. If you operate in one state and file in another, expect to register in both.

Does "no state income tax" mean I pay no tax?+

No. It means one line of the bill is zero. Federal tax follows the owner and the entity type, and the state where you actually do business can tax you regardless of where you filed - California's test starts at roughly $700k of California sales.

Will my US LLC owe US federal tax?+

It depends on whether the profit is effectively connected with a US trade or business, and on whether any of the income is US-source and subject to withholding. A Delaware LLC owned by a non-resident with no US-source business can legitimately owe nothing; the same company with US staff or US-performed work usually cannot. This is advice that has to be given on your facts, and we give it in writing.

Is a Canadian LP a tax-free company?+

It is a transparent one, which is not the same thing. The LP pays nothing in Canada when the partners are non-resident and there is no Canadian-source income, but the profit is taxed in the partners' own countries. If that is a good outcome for you, it depends entirely on where you are resident. An Alberta corporation is the opposite - a Canadian tax resident taxed on worldwide income at 23% combined.

What does Mexico actually involve?+

Two to four weeks and then the RFC, which is the real bottleneck - the company cannot invoice without it and the SAT sets that timeline. Tax is 30% with a mandatory 10% employee profit share on top and IVA at 16%, or 8% in the border zone. It is an operating market with an operating market's obligations, not a formation product.

Why is Bermuda different from everything else here?+

Because you are vetted before you are registered. An exempted company takes one to two weeks through the Bermuda Monetary Authority, it is not a remote sign-up, and substance is required for relevant activities. There is no income tax and the 15% reaches only groups above €750M. It is the premium shelf and it is priced that way - the right answer for reinsurance, cat bonds and funds, and the wrong answer for a small trading company.

What do I pay every year, and what happens if I forget?+

Small amounts: from $60 in Wyoming, $300 flat for a Delaware LLC, about $350 or $650 in Nevada, no annual report fee in Texas, an $800 minimum in California even in a loss year. Forgetting is common precisely because the sums are small, and an administratively dissolved company costs many times the missed fee to revive, assuming the bank stays with you while you do it.

Free consultation

Tell us where you actually do business

Where your customers are, where you are resident, whether you will have US staff and which bank you expect to use. You get a written recommendation with a jurisdiction, a legal form, a first-year and an annual cost and the reasoning - free of charge.

Written assessment within 2-5 business days
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