IOS:: Wyoming, USA - Corporation

Tuesday, 7 September 2010

     The State of Wyoming is situated in the Western US; the time difference with Eastern Standard Time is two hours.
     Wyoming is known worldwide as the home of the oldest national park in the USA - Yellowstone - and there are more than 30 large parks and recreation areas in the State.
     Wyoming was the first American State to elect a woman as governor (in 1925). It was also the first State to adopt legislation (in 1977), permitting the establishment of the LLC.
     The motto of the state of Wyoming is "Equal rights".
     Registration of companies in Wyoming is carried out by the Wyoming Secretary of State, Corporations Division.
     Liberal company law of this State is the main factor guaranteeing for Wyoming a status as one of the leading States in the USA regarding the number of enterprises registered there.
     In common with other States of the USA, Wyoming corporate law offers the possibility of establishing a Sole Proprietorship, the General Partnership, the Limited Partnership, the C-corporation, and the Limited Liability Company (LLC). Below we describe the Corporation - the second most popular type of business structure with entrepreneurs, after the LLC.

GENERAL INFORMATION	Total area - 253,347 sq km Population - 493,000 Location - click here to see the map of offshore jurisdictions Political status - State of The United States of America Capital - Cheyenne Official language - English Official currency - US Dollar Time zone - GMT - 7
Company type	Corporation
Officers & Shareholders	The Directors of the Corporation may be natural persons from any legal jurisdiction. Director information is generally stated in the document - Statement of Incorporator in lieu of organization meeting. Wyoming Corporations require a minimum of 1 Director. Legislation of the State of Wyoming does not require to disclose information about corporation's shareholders to Wyoming state authorities. No requirement for there to be a company secretary.
Authorised Capital (Equity)	Standard authorised capital of corporation is divided to 1500 shares without nominal value. There is no statutory requirement for capital to be fully or partly paid on incorporation.
Company Names	Company names should end with the words "Incorporated"; "Corporation"; "Company"; "Limited" or the suffixes "Inc."; "Corp."; "GmbH" and "Ltd.". Company names containing restricted words such as "Bank", "Insurance", "Trust", "University", "College" etc. will not be permitted unless an appropriate State operating licence has been obtained by the company.
Beneficial Ownership information	There is no statutory requirement for ultimate beneficial ownership information to be disclosed to Wyoming state authorities.
Filing of Annual Return	An Annual Return must be submitted every 12 months after the date of registration.
Filing of Financial Statement	For companies, who have a US taxpayer identification number (EIN number), the Financial Statement must be submitted every year.
Corporate Taxation	Flowing tax rate 15-39% depending on turnover, is applicable for companies who have a US taxpayer identification number (EIN number).
Tax Treaties	United States has concluded double tax treaties with more than 50 countries worldwide.
Timeframe for incorporation	2/3 working days. A complete set of company documents can be delivered in 3/4 weeks.
Takeover of management & secretarial services for an existing Wyoming Corporation	Possible, following verification of Beneficial Ownership and discharge of liabilities to previous corporate service providers.
Description of incorporation documents	Click here for itemised description of company documents.
"Ready-made"("Shelf") companies	Today we have 8 "Ready-made" USA companies available (click here for list of companies)
Price of Wyoming Corporation	USD 1,220, including incorporation costs, full domiciliary (Registered Agent/Office) costs, Nominee services and legal support services for one year.
Cost of annual support services	USD 570 per year, including full domiciliary (Registered Agent/Office) costs, annual franchise taxes, Nominee services and legal support services for each year.

INTERNATIONAL OVERSEAS SERVICES has the following comments: -
Currently, the State of Wyoming is one of the leading States when measured by the number of companies incorporated there - both by comparison with other States and as a whole, in terms of the number of companies used by entrepreneurs from other countries. The success of this State is connected in the first instance with its liberal registration procedures and its moderate registration fees.
We should like to emphasise that unlike an LLC, a corporation does not possess the sort of economic structure that enjoys exemption from taxation in the USA. In practice, if a corporation does not have a taxpayer registration number (EIN) in the USA, it is regarded in that country as "dormant", i.e. not carrying on business. In this way, a company, provided that it does not carry on an activity within the USA, can theoretically remain registered for many years. However, we are bound to repeat that corporations incorporated in the USA do not, by law, enjoy exemption from tax.

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