Open a Wyoming LLC: Guide for Nonresidents

Wyoming has long been known as one of the best US states for opening an LLC as a foreigner. The state offers high levels of anonymity to business owners, is famous for business-friendly laws, and has no corporate income tax. These and many other benefits are the reason why hundreds of new LLCs are formed in Wyoming each day by US citizens and foreigners.

If you want to become an owner of a Wyoming LLC for nonresidents or are simply interested in learning about the process, you’re in the right place. In this article, we’ll tell you how to open a Wyoming LLC as a foreigner and discuss the main reasons and benefits of doing so. 

Let’s start.

Open an LLC in Wyoming: Top Benefits

Some of the benefits of opening an LLC in Wyoming include:

• Legal protection from liability 
• High levels of anonymity (names of LLC owners are not disclosed publicly)
• No state income tax and various other tax benefits
• Access to US markets
• Low formation and annual fees
• Protection of personal assets
• Fast processing and LLC formation times (everything can be done in 24 hours or less)

What Is Wyoming LLC for Nonresidents?

A Wyoming LLC for nonresidents is a business entity registered in Wyoming and owned by a foreigner. It’s a Limited Liability Company incorporated and legally recognized in Wyoming but owned by someone who lives outside of the United States or is not a US citizen.

Can a Foreigner Open an LLC in Wyoming? 

Yes, foreigners are eligible to open an LLC in Wyoming. The state is home to hundreds of thousands of businesses, and each year, thousands of new companies are formed by either US citizens or foreigners. Many people choose to open an LLC in Wyoming because of the tax-benefits of a Wyoming LLC.

Wyoming Tax-Free LLC

Wyoming is one of the best US states to open an LLC as a foreigner because it offers tax benefits comparable to the best tax havens in the World (e.g., Cayman or Virgin Islands). 

To take full advantage of the benefits of forming an LLC in Wyoming, the following has to be true:

• Wyoming LLC can not be owned by a US citizen or Green Card holder
• Wyoming LLC can not have employees or facilities in the United States 
• Wyoming LLC can not generate US-source income

For example, let’s say you operate an online business outside the US. And let’s also say that your business provides IT services to clients worldwide. If your company is registered outside of the US, you can expect to deal with a corporate tax rate of around 23,45% (the average corporate tax for the world). However, if you register your company in the US, specifically Wyoming, you won’t have to pay corporate taxes. That is precisely the reason why so many foreigners open LLCs in Wyoming — no US-source income means a 0% tax rate.

Do you want to open a tax-free Wyoming LLC as a foreigner? For a fee of $1,500, we can help you open a Wyoming business entity and create a tax-free corporate structure. Book a free call to learn more.  

How to Open a Wyoming LLC for Nonresidents: 8 Main Steps

Here are the key steps to open an LLC in Wyoming as a foreigner:

1. Check Your Eligibility 

Before you can open an LLC in Wyoming as a foreigner, check your local government laws and verify that there are no restrictions to owning a business in the US. Also, make sure that the US does not impose sanctions on your country that would prevent you from owning a business in the States. 

2. Pick a Business Name

The second step in opening a Wyoming LLC for nonresidents is to choose a business name. You must include the term “LLC” or “Limited Liability Company” in the business name.

Once you settle on the name, check the Wyoming Secretary of State’s website to make sure it’s not already taken. If it’s not taken, you’re good to go, and if it is, you’ll either need to change it or buy the rights to the name from the original owner. 

3. Find a Registered Agent in Wyoming

Businesses in Wyoming must have a registered agent — an individual or a legal entity with a physical address in the state. Register agents are responsible for all correspondence between a business entity and various government agencies. They have to be available during regular Wyoming business hours.

So, to open a Wyoming LLC as a nonresident, you must find and hire a registered agent who will assume legal responsibility for dealing with correspondence between your business and the US government. To learn more about the state’s rules for registered agents, check out Wyoming’s Business & UCC Center page. This is one of the most crucial steps that we can accomplish for you.

4. File the Articles of Organization 

To officially form an LLC in Wyoming, you must file the Articles of Organization with the Wyoming Secretary of State. This legal document must include various information about your LLC, such as:

• The LLC’s name
• The name of your registered agent
• Corporate and membership structure 

You can file Articles of Organization by filling out the paperwork through an online portal or by mailing the required documents to the state’s address. You can also have your registered agent do the paperwork and bring it to the state’s office in person. 

5. Obtain an Employer Identification Number

EIN, or Employer Identification Number, is a 9-digit number issued by the Internal Revenue Service to all businesses in the US. An EIN allows the US government to easily differentiate between various business entities for tax and legal reasons. 

To get an EIN for your business as a foreigner, you first complete the SS-4 form, and to do that, you’ll need to prepare the following information:

• The type of your business entity 
• The reasons for applying
• The industry your business entity is involved in
• The formation date of your company

The cost of obtaining an EIN is $0, but it can take up much of your time. The processing times for an EIN are around 3-4 weeks, and that’s if you do everything perfectly. If you make a mistake, you’ll have to start the whole process from the beginning. Every mistake you make while filing for EIN will cost you 3-4 weeks of your time. That’s why it’s best to contact professionals who can ensure your EIN application is done right the first time.

NRI’s team of specialists will ensure the EIN paperwork is done correctly! Book a free call to learn how we can help you get an LLC in Wyoming as a foreigner. 

6. Create an Operating Agreement 

If you want to get a business loan, buy real estate without immigration status, sell real estate, or god forbid if you end up in a lawsuit, the first thing everyone will look at is your operating agreement. That’s why creating an operating agreement is one of the most important steps in opening a Wyoming LLC as a foreigner. This agreement determines how your business will function. It outlines the management structure, intra-company responsibilities, and various operating procedures. 

The operating agreement process is relatively simple for single-member LLCs. Creating an operating agreement becomes complicated for multi-member LLCs or partnerships. That’s why it’s best to get in touch with professionals who can help you create an operating agreement unique to your situation. 

7. Open a US Bank Account

If you want to start doing business with your Wyoming LLC for nonresidents, you must first open a US bank account, and to do that, in most cases, you’ll need the following:

• An EIN number
• Articles of organization 
• An operating agreement
• An official company website 
• A physical address for your LLC

The most difficult part here is getting a physical address for your Wyoming LLC. In the past, banks would accept the registered agent’s address and allow you to open an account with them, but that’s not the case anymore. Now, most banks won’t accept the address of a registered agent and require you to have a physical address for your LLC in Wyoming. Getting a physical address is a complicated part of forming a Wyoming LLC because the address will be verified by the bank. That’s why it’s important to contact professionals who have experience opening US bank accounts for nonresidents. 

You can open a US bank account with a regional or online bank. However, most regional banks have an policy of meeting their clients in person and will probably not deal with you until that happens. This means that if you want to have an account with a regional bank (e.g., JPMorgan Chase), you’ll have to fly to the US and have an in-person meeting with the bank representatives. And, even if you do that, you won’t be guaranteed an account. 

On the other hand, opening a US bank account with an online bank is much easier. You won’t have to travel anywhere or deal with the strict rules that most regular banks have. That’s exactly the reason why online banks are popular with foreigners who own businesses in the US. Some of the online banks that you can use to open a business account for your Wyoming LLC are:

• Wise
• Mercury
• Revolut Bank 

An increasing number of foreigners are having their applications for US bank accounts rejected. Contact NRI to ensure this doesn’t happen to you! 

8. File BOI Report

A beneficial Ownership Information Report, or BOI, is a legal document that all US business entities (including LLCs registered in Wyoming) must file with the Financial Crimes Enforcement Network (FinCEN). The process can be done via an online portal and must be completed within 30 days of forming an LLC. 

The BOI report is free and only has to be filed when the company is formed or when information about the company changes (e.g., change in ownership, address, etc.). 

How to Maintain Your Tax-Free US LLC in Wyoming?

To ensure your Wyoming LLC for nonresidents doesn’t get closed by the US government, you need to do the following two things each year:

• File the annual report with the Wyoming Secretary of State and pay the $60 fee for it (plus an additional $2 if you file this report online)
• File the 5472 form with the US Internal Revenue Service 

The annual report is due on the first day of the month you’ve registered your business. For example, if you opened a Wyoming LLC on December 13. 2024, you must file the annual report on December 1. 2025. If you fail to do that by the correct date, the state of Wyoming will automatically give you a 60-day extension. Once the 60-day extension ends, your Wyoming LLC will be permanently closed if you once again fail to send the yearly report. 

The 5472 form is an informational tax form you must file yearly with the IRS if you opened an LLC in the US as a foreigner. Filing this form doesn’t mean you have to pay US taxes. If you have an LLC in Wyoming and don’t have US-source income, your tax rate is still 0%. The 5472 form is purely informational and helps the IRS prevent money laundering.