It is assumed you already know that tens of thousands of non-residents use American corporations, especially from Delaware or Nevada, in overseas operations and for the protection of personal assets. In many ways these three states, Delaware, Nevada and Wyoming are similar: One person of any nationality may hold all three offices, no identification to the state authorities is required, shareholders are not listed and there is no minimum capital requirement. The ways in which they differ are shown in the chart below:
Wyoming is similar to many other states, but not one other state offers all of these advantages:
PRIVACY: When the corporation is initially formed, the board of directors may be composed of one or more directors ( note - directors must be individuals and may not be legal entities) or no director or officer need to be listed. One year later at least one individual person must be listed as officer on the annual report form, and signed.
SHARE CAPITAL: Wyoming itself does not charge more for companies listing large capital sums. A small charge per million is added to cover the cost of preparing the special documents and to discourage unrealistic sums.
ODD NAMES AVAILABLE: Corporate names can be in any language, and with or without endings such as Inc., Ltd., S.A., A.G., Gmbh and Pty. Even personal names can be incorporated without an ‘Inc.’ on the end.
NO STATE INCOME TAX: The main point here is that Wyoming has no exchange of information with the U.S. Internal Revenue Service. U.S. corporations are supposed to pay taxes on world-wide income. Those that ‘neglect’ to apply for a U.S. identification number do so under their own responsibility.
If you prefer a U.S. company legally exempt from all U.S. reports and taxes, please do not hesitate to contact us about the U.S. Limited Liability Company (LLCs).