The benefits of incorporating in Wyoming
While Delaware, with its long history of fairness in business litigation, gets a lot of the press regarding forming a limited liability corporation, there are also other states that can provide some advantages. One noteworthy example is Wyoming.
One of the most upfront benefits of incorporating in Wyoming is the low fees. Because the state has no business license or officer filing fees, the total cost you’ll wind up paying is less than most other places. The renewal fee is usually just $50. Which means that not only is it easy to get started, it’s not cost-prohibitive to maintain. For a small registered agent fee, you can have important documents collected on your behalf, even if you don’t live anywhere in the area.
If you’re interested in a forming a limited liability corporation, you’re in good company. In fact, Wyoming was the first state to make this option available, all the way back in 1977. This means that it has more legal precedent in this area than anywhere else. A 2010 update to the rules ensures that it remains current with the times.
Wyoming is also a fine choice for international companies. Not only can you live abroad while conducting your business, you don’t have to be a U.S. citizen. For immigrants or foreigners looking to contribute to the economy and become entrepreneurs, this could prove a very valuable policy.
In addition, once you’ve formed your LLC, the state goes to great lengths to protect your assets. You have a high degree of coverage from litigious interlopers. You also have the freedom from being listed on a public database.
In all, if you’re looking for a cost-effective long term incorporation, Wyoming remains a fine choice. For more information on forming an LLC or any other type of company in Wyoming, visit the secretary of state’s “start a business” page.