Wyoming LLC in the USA or Delaware LLC what agent and how secure?

[lavel]

I want to know which one is better Wyoming LLC or Delaware LLC?

I have found this agent for a Wyoming LLC Order the Cheapest Wyoming Registered Agent Service can I trust them or is this a scam / fake?

In regards to setup of the company in one or another state, which one has no CRS and is most secure in regards to privacy? Do you know a agent who can setup such companies for cheap?

The Wymoning LLC is considered offshore I guesss so will it be possible to setup a TransferWise borderless account for such an entity?

 

[Marc Jacob]

Regarding the agent, i can suggest you one with the possibility of having your own‌ LLC'S address with a VERY good mail forwarding service. Yes, TW does accept WY LLC‍ (note that the payments to such entities are subject to a higher level of attention⁠ from financial services).

 

[Spinat]

sorry to join but what woud‍ be better with less attention?

 

[lavel]

can you please tell me the agent name you say you know?

 

[lavel]

Thank you I just contacted Wyoming Registered Agent | $49 | Buffalo Registered Agents and hope they are able to help with the setup as well as pricing for accounting‌ and tax filing! Does someone know how much tax a WY company pay on foreign‍ non US profits? and what about accounting what is required?

 

[Marc Jacob]

In addition, prior the registration of your US LLC, i really advise you to contact‌ at least one GOOD accountant who use to deal with non-resident owners.

 

[lavel]

okay thank you, will do that, I asked the same to the company you suggested.‌

 

[John Andrews]

Go with Alaska instead of Wyoming/Delaware, it has better rep.

 

[lavel]

Any agent you can recommend there? and why do you think it is better?

how long they use to respond to simple request on the contact form?

 

[John Andrews]

Try northwestregisteredagent.com. Alaska is better if you get audited because it‍ looks more legit than Delaware/Wyoming (everyone knows about those two).

 

[Marzio]

WY has the best protection for a‌ single member LLC

 

[lavel]

I got a reply,‍ they also mentioned this:

Don't they need any passport or utility bill or⁣ anything else to identity check??

 

[lavel]

Can someone tell me if it is required to order a TAX ID for my‌ Wyoming LLC ? not sure if I need or not. I want to setup a‍ TW business account for this LLC and maybe a few other accounts so they may⁠ need the tax id or not?

 

[funk]

In regards to your curiosity regarding CRS.

Every LLC in⁣ USA including Wyoming & Delaware which is treated as a disregarded entity wholly owned by⁢ a foreign person will have to annually report to IRS via 5472 + 1120 Forms.︀ This will include transactions between the company and the UBO. This report is mandatory and︁ non compliance leads to huge cumulative fines.

Also, this information might be sent to other︂ nations as per automatic information exchange as deemed fit by IRS.
(IRS doesn't mention what︃ will they do with the information but it mentions this is for fight against tax︄ evasion and transparency).

USA is not anonymous anymore. Wyoming and Delaware state laws might not︅ need your identity information but to comply with the federal law it is mandatory to︆ get EIN for which you will have to disclose your personal identity and comply with︇ IRS as stated above.

Other more distinguished member from this forum will be able to︈ throw some light on this matter.

If you are still inclined on forming a wyoming︉ company.
You can use them WYOMING REGISTERED AGENT - $25 A YEAR TOTAL
Formation: 150$︊

 

[lavel]

So what you say in your post @funk is that I should apply for the‌ Tax ID for my Wyoming company right? Just remind you I'm a European citizen not‍ US.

 

[funk]

Yes all the above is for foreign person only⁠ and not US citizen or US resident.
Getting EIN (tax id) is not a matter⁤ of choice it's a must now because you need to file 5472 + 1020. You⁣ will also need EIN if you need to get any bank accounts for your llc.⁢ Also, don't expect any privacy from IRS as they might report information from your 5472︀ to your residence country. Before forming this company read more about 5472 on google and︁ what kind of information IRS might ask (includes your residence and transactions).

All the best︂

 

[lavel]

Thank you very much @funk you have been very helpful, really. So the only privacy‌ we will have by forming a Wyoming company would be that there is no public‍ registry means my name will not show up anywhere else. But in regards to tax⁠ we will have to pay the tax that may be applicable in the US and⁤ make use of DTA's or similiar if such exists to stay tax legal in my⁣ own country.

Do you know, is it easy for normal people to get UBO information⁢ for a Wyoming LLC or does it require a court order or similar like it︀ was in Cyprus back thses days?

 

[BTCNG]

Hi

Can you recommend on a good and reliable local accountant that can assist in︇ filing these returns (5472 + 1120 Forms) and understand the status of a foreigner holding︈ an LLC (that it is a disregarded entity without any tax liability in the USA)?︉
I tried to check with few, but they either don’t know what I'm talking about︊ or are very expensive.
Will be very helpful if you can recommend on couple.

 

[funk]

Any accountant in USA will be able to help you with⁢ 5472. It's not very tough and can be done yourself as well. You have to︀ report all transaction between yourself and the llc you form. Like a P&L statement. I︁ personally don't know of any accountant and you can search for them on the google.︂

All the company formation agents will hide this 5472 compliance from the customers in the︃ hopes of selling a company. Also, the onus of compliance lies with the owner of︄ the company and not the agent forming the company.

You can read more about 5472︅ here:
https://<<snippet>>.com/2018/05/14/irs-form-5472-llc/

 

[lavel]

another great piece of information, thank you so much for all the information @funk