Many people have the desire to minimize their taxes at the state level. Particularly for internet businesses which operate with a physical presence, its important to consider the fact that you can essentially operate from anywhere in the world. Therefore, it makes sense to incorporate in a state with little, or no sales or income tax.
If you are looking for a state with no income tax, where you want to establish a physical presence?
You might consider Wyoming for your incorporation.
Wyoming has no income tax and no sales tax on corporations/LLC’s unless they sell physical items IN the State of Wyoming. Wyoming also has the best asset protection in the country for single member LLC’s.
We can also file a private Wyoming LLC so your name is not in the state registry and we can provide a corporation or LLC with a physical address in the State of Wyoming
The price is $297 for an LLC with operating agreement, articles of incorporation, and certificate of good standing, and one year registered agent service from my office In Wyoming, and all state fee’s taken care of. For $30 per month you get a phone, fax, and physical address in Wyoming.
After year one, you pay just a $50 state fee. Compare that to a $250 state fee in Delaware, or $400+ state fee’s in NV.
We can also connect you to an accountant on my team if requested to ensure your corporate set up legally minimizes your tax exposure.
Check out our Main Article on Incorporating a Nevis LLC
Oh I’ve heard of that, the passport country right?
Nevis is actually a separate offshore domicile from the country of St. Kitts and Nevis, which has gained recent notoriety as one of the two countries in the world to offer a transparent economic citizenship program. Nevis offers citizenship by economic contribution if you are willing to make a one time economic contribution to the Government of St Kitts and Nevis to the tune of the 2012 price of 250k. You can also qualify if you buy real estate with worth over 400k The only other country in the world with an instant passport program (by instant meaning about 6 months, no need to visit or live in the country) is Dominica, not to be confused with the Dominican Republic. A passport in Dominica costs about 75,000-100,000, and up to 150,000 to naturalize a family.
The only tax due on Nevis companies to the country of Nevis, is when business is transacted within the country of Nevis. You also cannot hold real estate or physical property in Nevis with a Nevis LLC.
Talk to a tax attorney in your home country to discuss your unique tax obligations.
More On A Nevis LLC…
If you are looking for an offshore jurisdiction that is right for your business and your company, Nevis may be the right choice for you. The Nevis Offshore jurisdiction is a 100% tax-free offshore domicile operated by the small Caribbean country of St Kitts and Nevis. It is an independent sovereignty and is not a crown dependency like the Channel Islands, or connected to another larger dependency.
A Nevis LLC has distinct advantages, and comes at a very affordable price. The Nevis LLC does not have to face mandatory audits, and corporate compliance is minimal, there are very few company records to be maintained like corporate minutes. Your company meeting can be held anywhere, and an operating agreement can be tailored to your exact specifications.
A Nevis LLC can be formed with just one owner, and you can also create hybrid entities by combining trusts if additional asset protection is requested.
So you don’t need multiple owners, a secretary, a board of directors, nominee’s or anything along those lines?
A downside of many offshore incorporations is that they require more than one director. For example, if you wanted to set up in Singapore (another fantastic choice for an offshore corporation) you would need to have 2 residents of Singapore serve as directors. Contrast this to Nevis, where you can operate as a single member LLC.
You are certainly allowed to have more than one owner, but Nevis does allows for one person to incorporate a company. You can incorporate a company that is single member managed.
Can I get sued?
To bring an action in Nevis against your corporation the creditor would need to post a $25,000 cash bond with the court in addition to any legal fees.
Okay so I’m reasonably protected from the actions of the LLC, what about a personal lawsuit, lets say I get in a car crash in the US.
Am I still protected from personal lawsuits?
USA domiciled single member LLC’s have been perceived as risky because they don’t have outside-in asset protection, or ‘personal lawsuit’ protection.
There is precedent caselaw where with single member LLC’s in and is evidence that the best place to operate an LLC in the US is within the states of Wyoming, Delaware or Nevada. This is because of charging order protection which is tested and proven by caselaw. CAREFUL WHEN starting a single member LLC in the United States! ONLY Wyoming has statutes that specifically provide for charging order protection for single member LLC’s.
Nevis offshore statutes for Nevis IBC’s and Nevis LLC’s are actually derived from US jurisdictional law in the states of Delaware and Wyoming, respectively. A single member LLC in Nevis has charging order protection, and other benefits of a Wyoming LLC, located in a jurisdiction offshore, with Nevis courts governing. All the benefits of the strongest LLC in the United States, located offshore in Nevis.
Seems random, why use laws from the USA?
Wyoming was the first state to implement the LLC or the Limited Liabilty Company. Nevis has essentially ‘borrowed’ the Wyoming LLC laws, and applied them to an offshore jurisdiction. Nevis has no connection to US court system or governance, they simply borrowed the jurisdictional law because they felt it was the strongest upon which to build their offshore domicile laws.
How private is a Nevis LLC?
The Confidential Relations Act of 1985 guarantees the confidentiality of Nevis offshore companies and bank accounts.
Nevis Has No Public Registry – This fulfills the first pillar of Asset Protection – privacy. The Nevis LLC is for all practical purposes anonymous. Nevis does not have a publicly accessible database of corporate records. Only the government and lawyers who practice in Nevis can access this database.
No one can get even basic information about your LLC – such as when it was filed, who it was filed by, or who owns the company. Your registration is essentially anonymous.
A member of an Limited Liability company is limited to the amount of contributed capital they make to capitalize the company and ‘buy’ a membership interest. An LLC is comprised of membership interest whereas a stockholder in a company limited by stock. In the traditional sense of the word this limits owners personal liability by their stock investment.
Incorporating in Nevis as an LLC comes with greater protection for less cost than other jurisdictions which requisite multiple owners to incorporate.
Hong Kong does offer some distinct advantages over other jurisdictions. For starters, a Hong Kong company that operates “offshore” or in a “no-tax” environment, is actually not a distinct offshore jurisdiction. Hong Kong is one of the best jurisdictions in the world, it does have its downsides, such as yearly audits. Also, you will likely have to travel to hong kong and make a substantial deposit to open a bank account there, unless you pay a premium fee for a full service incorporation and bank introduction.
I can’t discount that Hong Kong is a fantastic place to operate offshore. Personally, I would incorporate in Hong Kong if I were operating an ex-pat hedge fund. Also, Hong Kong is fantastic if you are sourcing from China.
Otherwise, I see less burdernsome reporting requirements as favorable. Do you want a yearly audit? If not, then don’t operate in Hong Kong. Do you want aggressive writeoffs and a legitimate front, Hong Kong might be right for you.
We can open a Hong Kong company for a cost of $2,500.
You control your LLC completely – there is no need for split ownership with a nominee – that may be required in a jurisdiction like Singapore, Ireland, Thailand, etc.
Your LLC is backed by strong laws – Nevis is a common law jurisdiction with LLC statues derived from the best state to incorporate in the US – Wyoming.
Your LLC is private – Your name is not on the company registry, because there is no publicly accessible company registry. If you are a US citizen or resident alien and you spend more than 330 days abroad
If your business is “mostly you” or you function primarily as an independent contractor, and want to operate offshore. You want a clean, simple and easy way to get an additional offshore legal entity that can sign up for bank accounts anywhere in the world bank accounts.
For total privacy, and to keep your name and address of the file of your Wyoming LLC, we offer virtual office services as well as private incorporation.
Ordering a Private incorporation in Wyoming means that your name, your address will not be attached to the file, and we will establish a Wyoming business presence to solidify Wyoming LLC or Wyoming Corporation as having a headquarters in Wyoming.
When you have your business mail coming to a Wyoming address, you have established a business address within the state of Wyoming.
Be wary of other “fly by night” virtual office services that don’t offer a REAL address.We will forward all of your mail to you, up to 60 pieces per month for $35 per month, you get 2 months off if you pay it all in advance. Many other virtual offices in Wyoming charge $50.
We will give you a Wyoming Virtual office with phone, and fax if requested on a case-by-case basis. Let us know your needs and we will accomadate you. Simply call the toll free number at the top of the screen and you will be immediately connected to someone who can help you determine what you need.
By having all your business mail come to Wyoming, you’ll firmly establish your business as a Wyoming business with your vendors and clients.
Jackson, Wyoming does not have physical on site delivery by the US Post office. Thus we are all required to get a PO Box. So with your Wyoming Virtual office service, you’ll not only be using our physical address, you’ll be using our PO Box.
Our Wyoming virtual office services can also include a Wyoming phone number.
We only charge $100 to set up your Wyoming LLC or Wyoming Corporation. There is a yearly $97 charge to serve as your Wyoming registered agent.
Wyoming has no corporate or personal income tax, and is one of the best States to form an LLC or C-Corp in, especially if you are a resident of a high taxed State.
Our Wyoming Virtual Office service is a very cost effective and well managed option.
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Yes, you do need a registered agent to incorporate a Wyoming LLC.
Every legal entity, including LLC’s and Corporations, requires a registered agent on file.
If you choose Registered Agent Worldwide as your registered agent in Wyoming, you’ll receive a comprehensive package with absolutely everything you need to incorporate your Wyoming LLC. When you use Registered Agent Worldwide as your Wyoming LLC Registered Agent, you’ll receive incorporation documents, registered agent service, service of processing, and a single member or multi member operating agreement.
All legal entities, be it domestic or foreign LLCs or corporations cost $100 to file with the Wyoming Secretary of State.Our fee as Registered Agent is just $97 per year.
The State of Wyoming requires that your documents be inked and mailed, and that a Wyoming Registered Agent has signed off on the documents. You cannot fax your incorporation documents, they must be hand signed.
There is also no expedited option in the State of Wyoming, but as your Wyoming Registered Agent, we will file the documents immediately, and can even walk the documents in for quicker filing.
Most filings in Wyoming take about 5-7 days to process your application, at which point you will be able to view your filing in the online database. From here you can print out your Wyoming certificate of good standing for free and take this to a bank to set up your business bank account. You do not have to set up a bank in Wyoming, just because you have a Wyoming LLC and Wyoming Registered Agent.
The state fee’s after year one are called Wyoming annual reports. These are due every year on the 1st day of the month in which you filed. Additionally, you will owe a $97 registered agent fee.
There is no fee in Wyoming to change your Wyoming Registered Agent. Other places like Delaware can charge 100’s of dollars to change your registered agent.
If you would like to make Registered Agent Worldwide your Wyoming Registered Agent, we will prepare all of the documents needed for this change and file on your behalf.
If you make Registered Agent Worldwide your Wyoming Registered Agent, you won’t have annoying fee’s or extra add on’s. Our motto is “everything you need, and nothing you don’t.” which means we will help you determine the exact forms you need, and won’t overcharge you or bill you unfairly.
Make Registered Agent Worldwide your Wyoming Registered Agent today, click on the USA incorporation at the bottom of this page.
A Wyoming Close LLC is a smart method of asset protection planning, and can make proper use of a Wyoming LLC for asset protection. Wyoming is a pro-business state, and has very strong company laws with many advocates of privacy and liberty creating a favorable business Environment.
A Wyoming close LLC can have many uses based on your individual situation. A Wyoming close LLC can be ideal for your estate planning or asset protection purposes. Here are some facts about a Wyoming Close LLC.
A Wyoming Close LLC still retains the protective power of other Wyoming LLC Statutes that also provide strong asset protection for your LLC formed in Wyoming.
The sole remedy for potential creditors of a Wyoming Close LLC is a charging order. This essentially means that it is difficult for creditors to seize your assets in the event of a lawsuit, particularly when compared to other states like California or Florida.
The Wyoming Close LLC can include provisions that make it difficult to transfer membership of the LLC. This can be advantageous for several reasons.
A Wyoming Close LLC will oftentimes prevent a lawsuit from even occurring, because a creditor will see how difficult it is to control the Wyoming LLC as a creditor.
Wyoming Close LLC’s can choose to make profit distributions (dividends) if and when they choose. If there was a charging order against an LLC, you might choose not to make a profit distribution, for example.
A Wyoming Close LLC makes it difficult or impossible for a hostile takeover because the Wyoming Close LLC membership is established and not easily transferred and difficult to change, but only if you decide to make it this way.
For only $100 we will form your Close Wyoming LLC. We charge $100 to form a Wyoming Close LLC. $97 for Wyoming registered agent services, and the State filing fee of $100. A total of $297.
An optional service is the customized operating agreement for an additional $100 and a tax id for $50.
The Wyoming Close LLC is a fantastic option for anyone considering Asset Protection or Estate Planning. Asset protection is a great reason for forming a Wyoming Close LLC. You might also look at our Worldwide Jurisdictions. However, if you decide to go with a Wyoming Close LLC, e can also refer you to a Wyoming Estate planning lawyer who can create a customized operating agreemtn for your Wyoming Close LLC.
You need a registered agent to form a Wyoming Close LLC. Registered Agent Worldwide is the best Wyoming Registered Agent Service in the State of Wyoming. We provide everything you need, and won’t hassle you with anything you don’t.
Sign up for a Wyoming Close LLC today.
A foreign LLC is an LLC that does business in another state then where it is incorporated. For instance, a Foreign LLC incorporated in Wyoming, but licensed to do business in Delaware has the same rights as a Delware LLC –but may be protected by different state laws in the state of incorporation.
Futhermore, a person who wants to sue your LLC would have to serve you papers in Wyoming, creating a greater hassle, and lesser chance of a lawsuit. Futhermore, if you use our anonymous business registration services, you won’t be on the books as owning an LLC in Wyoming – and your name won’t appear under the name search – therefore – you won’t be perceived as having multiple assets, and your likelihood of being a target is decreased.
Asset Protection Worldwide LLC is a company that helps entrepreneurs and small business owners protect themselves from lawsuits. Contact us today to see how we can help you protect yourself.
Wyoming is one of the best domestic jurisdictions for Asset Protection, as the sole remedy for a lawsuit in Wyoming is a charging order, you are afforded several benefits for asset protection planning.
International asset protection, or Asset Protection worldwide should be a consideration for individuals with considerable net worth, or who are dealing with a particularly liable field. America is a very litigious society, and every entrepreneur should consider domestic Wyoming Asset protection for their business, and Wyoming Asset protection for their personal wealth.
Wyoming asset protection is also useful because you can effectively anonymously own a Wyoming legal entity. Registered Agent Worldwide will file the documents on your behalf, allowing you to benefit from anonymous business registration in the United States.
The advantages of owning a business are twofold – firstly, you cannot be located at the owner of the entity, you don’t become a target for predatory lawsuits. Secondly, if you are being sued personally, and they cannot find this asset, it will not be listed on the charging order. Furthermore, there are set ups in Wyoming where you could be sued, lose the suit and still be protected because of a comprehensive and well planned hybrid entity asset protection set up.
Wyoming LLC’s are great for asset protection. They are inexpensive yet provide strong protection. Privacy laws in Wyoming are strong, and for the many individuals, a domestic asset protection plan may be enough. For those who truly want to have 100% bulletproof protection, International asset protection planning and wealth management may be necessary. Wyoming Asset Protection is particularly useful for Real Estate investors.
Other states that have solid asset protection are New Mexico and Nevada. States that have particularly poor asset protection purposes are Massachusetts, Florida and California
Avoid lumping assets with liabilities in attempt to save money. Ideally, each segment of your business is separate and distinct, keeping what is valuable (cashflow, assets) away from what costs you money (long term liabilities, potential litigation, employees)
Asset Protection should be used to ‘get creative’ with your taxes. Asset Protection mitigates risk, and oftentimes saves you a boatload of money in the long-run at the cost of short term set up costs. The problem is most people wait until it is too late to start their asset protection planning – which can fall under the topic of fraudulent conveyance.