NM or WY LLC for Stripe?

[Martina]

I've been reading comments here about chances of being rejected by Stripe (and possibly Wise)‌ are higher with a New Mexico LLC compared to a Wyoming LLC. (non resident, single‍ member)

Can anyone confirm or debunk from personal experience?

 

[Houdini]

No, chances are higher not to be rejected if you tell Wise what it is‌ you are going to do.

Hold my Wise account for 4th year not a single‍ issue yet.

 

[Martina]

Thanks, I'm looking for an answer on Stripe.⁠ Good to hear you don't have issues with your Wise account. Are you incorporated in⁤ NM?

 

[Houdini]

NM and Wyoming, I own several companies. Stripe is exact same thing, you need to‌ be patient when you ask their support but it is worth to tell them what‍ it is you are going to do first.

I read that someone here on the⁠ forum did it a few years ago, he never got replies, however, I did the⁤ same and it worked.

 

[Martina]

Thanks, so you're saying Stripe will⁣ not reject you based on what state you incorporated in?

I run a legitimate business,⁢ so I have no problem telling and showing them exactly what I do.

 

[Houdini]

They did not with my setup, that's what I‍ say.

 

[Martina]

Goog to know, thanks for your response.

 

[MiltonStone]

Get in touch with Stripe first and you will see that it is well possible‌ to get a stable solution from them for Wyoming corps. I have not tried with‍ NM.

 

[Martina]

Thanks, yes I have contacted them also with this⁠ question

 

[sdip]

Hello, what is the result? NM is viable or not or it does not matter‍ where it is done

 

[Martina]

For Stripe approval it shouldn't matter,‍ but I consulted an expert and it seems NM is not the best for getting⁠ US bank accounts, so the better choice would be WY.

 

[Spinat]

Why is NM not the best, did he actually⁠ explained that to you?

Wyoming isn't worst so go for it if you find it⁤ easier in regards to Stripe.

 

[Martina]

Because there's no renewal or filing involved. This makes banks nervous. or so I was‌ told by registered agent.

 

[Milky Moon]

For NW you only pay $35‍ per annum after the initial registration. Wise works fine. NW doesn't allow database acces from⁠ outside the US so it is really 'nice' 🙂.
(Use it to keep some assets⁤ anonymous, and not that many transactions (1 incoming "invoice" per month, every quarter that total⁣ sum is sent somewhere else)(in-out is a red flag for banks)

 

[Martina]

Glad it's working for you. For me⁣ it would be too risky. I have many transactions.

How did you find out about⁢ the golden ratio 1 monthly incoming and 1 quarterly outgoing invoice?