Incorporating in Wyoming could yield benefits for your company
Wyoming isn’t exactly known as a thriving commercial hub. In fact, the state as a whole has just over a half a million residents. For comparison’s sake, that’s about 100,000 less than El Paso, which is just the sixth most populated city in Texas. Its capital and busiest city, Cheyenne, is home to a scant 60,000 people.
For businesses, however, this sparsely populated state is something of a haven.
Over 2,000 companies are registered at a single address in Cheyenne. And the location isn’t a skyscraper that stretches into the sky or a sprawling mall that takes up several blocks. Rather, it’s a relatively modest brick house, which neighbors report as as not being particularly bustling. Certainly not the level of volume you’d expect from a couple thousand companies all doing business at once.
That’s because they’re not. None of those companies actually work from that address, but for a small registered agent fee, they can get all the tax benefits of doing so. And considering the benefits of incorporating in Wyoming, such a measure is well worthwhile.
For businesses, Wyoming has a regulatory touch that is light but fair. The high volume of companies that form there means that its legislative bodies have a wealth of experience in corporate disputes, and can make sound decisions. In addition, the state’s respect for the privacy of entrepreneurs has proven a very attractive policy for those looking to incorporate. Not only does it allow established companies to protect trade secrets, it can also lessen the hurdles to an enterprising new business-owner.