Wyoming LLC as a Holding company of another LLC

[Luganese]

Can a Wyoming LLC be a holding of another operating business Wyoming/Delaware LLC?
It's a good idea for asset protection?
Would I have problem with the banks with this setup ?

Thanks

 

[Sols]

Luganese said:
Can a Wyoming LLC be a holding of another operating business Wyoming/Delaware LLC?
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Yes.

Luganese said:
It's a good idea for asset protection?
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Protection from what?

Luganese said:
Would I have problem with the banks with this setup ?
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Yes, but not much. It's already difficult to open bank accounts for US LLCs. The more complicated your structure is, the harder it gets. However, US LLC owning another US LLC is usually not much of a problem. Depends on how many other members are in the LLCs.

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This is the probably the answer to your question.

 

[JohnLocke]

I would solve the issue with the bank account opening first before I opened a company in the USA! Just a hint, if you don't know how to solve that it's a good starting point.

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[buenosdias]

You haven't mentioned some key things in the scenario, but I don't see an issue with an LLC owning another in the same state. Can't comment on asset protection.

I agree with @Admin. You need to solve the bank account problem, before you invest in the infrastructure.

 

[Martin Everson]

100% like Admin said solve the banking issue first. Otherwise you will have a useless paperweight of a company on your hands.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[speedster]

Martin Everson said:
100% like Admin said solve the banking issue first. Otherwise you will have a useless paperweight of a company on your hands.
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Great suggestion. One question, how do you get the bank to open the account before the company is open?

 

[Martin Everson]

speedster said:
Great suggestion. One question, how do you get the bank to open the account before the company is open?
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Who said open an account before company is open? 🙄

You identify several banks that will accept a US LLC and structure before going the route of incorporating. You solve the problem of where you are going to bank before you open ANY company in general thu&¤#.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Luganese]

Sols said:
Protection from what?
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International creditors

 

[sonato]

Martin Everson said:
Who said open an account before company is open? 🙄

You identify several banks that will accept a US LLC and structure before going the route of incorporating. You solve the problem of where you are going to bank before you open ANY company in general thu&¤#.
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I don't believe this guy know what he is talking about. Without the setup of the company first you won't get any bank account approval. Also not with any EMI like TW or other similar.

I'm setting up a Wyoming LLC while we speak have submitted papers and payment just waiting for the agent to get back.

 

[Martin Everson]

Reading and comprehension is never most peoples strong points 🙄.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[forlac]

sonato said:
I don't believe this guy know what he is talking about. Without the setup of the company first you won't get any bank account approval. Also not with any EMI like TW or other similar.

I'm setting up a Wyoming LLC while we speak have submitted papers and payment just waiting for the agent to get back.
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On Wise you can do it, just open small business account from your country and when you have the LLC opened they can transform it, ask the support and they said it is no problem.

 

[sonato]

forlac said:
On Wise you can do it, just open small business account from your country and when you have the LLC opened they can transform it, ask the support and they said it is no problem.
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They don't transform it. They open a business account with your personal accounts information 😉