Following substantial interest in United States of America corporate structures, we are creating a series of newsletters addressing the advantages of high-profile USA jurisdictions for our existing clients to consider.
It is necessary to review your corporate structure from time to time. What worked well in the past might not be as beneficial today. Some jurisdictions might impose onerous requirements for the continued management of a company. On the other hand, the country in which a company holds its assets may become more complicated. A recent example is Gibraltar companies holding assets in Spain.
A quick solution is often a simple redomicilliation of the company. This means that you change the current country of registration to another country that offers a more beneficial scenario, while we would continue to manage the structure on your behalf.
We will take a closer look at three excellent jurisdictions in the USA and the advantages they can offer your redomiciled company or new incorporation. Our last newsletters featured Delaware and Florida. Today’s featured jurisdiction is Wyoming.
Information on Wyoming
Wyoming is also known as the “Cowboy State”. The Wyoming State Flag bears the picture of a buffalo and the Yellowstone National Park forms part of Wyoming. Wyoming is home to “old Faithful”, a highly predictable geothermal geyser. It was the first state to allow women the right to vote and become politicians, as well as the first State to elect a female Governor.
Advantages of a Wyoming State Limited Liability Corporation (LLC)
- Wyoming offers business owners with a reliable, collaborative environment in which to work.
- The Wyoming Legislature is statutorily required to maintain a balanced budget and the state has approximately $20.1 billion in savings and trusts.
- Wyoming LLC’s are often described as a hybrid between a corporation and a limited partnership.
- Wyoming does not possess individual or corporate income tax.
- Each member enjoys liability limited to the amount invested in the program like a corporate shareholder
- The members each pay their share of tax on their share of profits avoiding double taxation of limited liability company profits.
If you decide to redomicile or incorporate a new Wyoming corporation, the process is simple and straight forward.
Speak to us today so we can assist you further