Company registration in the USA is a very profitable option due to the possibility of operating in a jurisdiction with a highly developed economy and business culture. Companies from the U.S. enjoy great confidence among buyers.
This jurisdiction is open to foreign capital and creates conditions for implementing bold business ideas. The U.S., particularly Wyoming, is attractive for innovative businesses, e-commerce projects, and various start-ups. It is beneficial to register companies in this state (in Cheyenne or any other city) due to the following advantages of the jurisdiction.
Advantages of Wyoming for incorporating an international company
If aiming to incorporate a company in Wyoming, the option can be potentially advantageous because of the following benefits of the jurisdiction:
- low tax burden within the state (only the federal level has a corporate tax rate of 21%);
- no requirements to involve residents in the company’s operations;
- the overall simplicity of Wyoming’s firm registration process – no bureaucracy;
- high level of confidentiality of doing business since the information about its beneficiaries is not disclosed;
Forms of business and legal presence in Wyoming
If you plan to open a company in Wyoming or establish your business presence in any other way, it is possible to do so in one of several forms:
- A limited liability company is the simplest form of business in which participants are not liable for more than the amount of money invested. Elementary accounting and reporting requirements apply to this form of business. The structure is flexible in terms of formation and further management. The only nuance – there is no possibility to raise external capital due to lack of shares.
- The S corporation, a joint-stock company, offers its participants (shareholders) a profitable investment option, while the liability of the participants is limited to the amount of such investment. The corporation’s shares can be freely alienated, and there is no double taxation for the form itself – income is taxed only at the individual level of the shareholders.
- A branch is a variant of a foreign company’s business presence. Under a simplified scheme, it receives the right to conduct the same business activities in Wyoming as it does in foreign countries.
- A representative office is a variant of a foreign company’s business presence in which it is not allowed to do business in the United States but to explore local markets for future development in the jurisdiction’s markets.
Wyoming legal entity registration procedure
If you want to register a company in Wyoming, you will need to go through many interrelated steps:
- Find a registered agent.
- Make a list of activities and a business plan for a future company.
- Find and arrange a future office for the company.
- Collect information about the participants and beneficiaries of the future legal entity.
- Draw up constituent and registration documents with their subsequent submission for registration.
- Complete registration for tax purposes with further receipt of an EIN (United States Company Identification Number).
- Open accounts for a future company.
- Obtain licenses and other permits that may be required to conduct regulated activities.
Legislation, Regulatory Environment, and Tax Aspects
Wyoming has no restrictions on doing business in or out of the state. There is also a relatively liberal law that regulates the turnover of stocks.
Foreigners have equal rights to do business along with residents. There is no requirement under local law for residents to participate or to form a certain amount of capital. But when it comes to regulated activities, the amount of money must be comparable to the types of activities planned to be conducted through a legal entity in Wyoming.
Foreigners can register businesses and operate freely with favorable tax treatment. Wyoming is of interest to many entrepreneurs who conduct their business in foreign countries because the state has no corporate income tax, no property tax, and no income tax.
How Prifinance lawyers can help
If “starting a business in Wyoming” is high on your list of priorities, then Prifinance lawyers are ready to help in any way possible to make it a reality, including through the following legal services:
- assess the potential profitability of the Wyoming business incorporation option, considering the specifics of your business case, and offer you equally suitable alternatives, which, as the experience of Prifinance lawyers shows, is possible in any case;
- Collect and process all the information necessary for the incorporation in Wyoming;
- draw up and execute the incorporation and constituent documents for company incorporation in Wyoming;
- to accompany the negotiation process with local government officials before and after the incorporation of the new company in Wyoming;
- assist with opening bank accounts in the U.S. as well as other jurisdictions;
- provide legal assistance in resolving any other issues that may arise during the operation of a newly formed Wyoming entity.
Send input – get ready-made business solutions from experienced lawyers.