Establishing a company in Wyoming

Wyoming lies in the mountain region of the Western U.S., and on maps looks like a perfect rectangle. It is typified by gorgeous open landscapes alongside dramatic mountain peaks and ridges. Its neighboring states are Montana to the north, South Dakota and Nebraska to the east, Colorado to the south, and Utah and Idaho to the west. It is the 10th in size of all U.S. states, but the least inhabited. Two-thirds of the state is taken up by the Eastern Rocky Mountains and the eastern regions include elevated and flat plains. The capital city of Cheyenne is the largest and most populated city, with a population of 60,000. The state has many natural treasures that provide yearly revenues and thus absolve the state of any need to impose income tax. These conditions make Wyoming extremely attractive to foreign companies.

The enormous state of Wyoming, spanning over 253,350 km², has a total population of only 580,000, making it the second least populated state after Alaska. However, millions of tourists arrive each year to see natural landscapes that are unique to the area – such as Yellowstone National Park, and nearby Grand Teton National Park. The climate is semi-arid and continental, and the topography and its distance from any coastline create warm and dry summers juxtaposed with cold nights, while the winters are cold and heavily snowed and the spring is the rainiest season.

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Four things you did not know about Wyoming:

Rodeos are not simply a sport for the natives of Wyoming but rather a way of life. This pastime has come to symbolize the agricultural heartland of the U.S., as well as its local hero in the form of the cowboy. This is a recommended experience and very different from most tourist attractions. One of the biggest events held in the U.S. – the “Frontier Days Rodeo” - can be seen each year in the state capital.

As it has thousands of lakes and endless miles of rapids, Wyoming is a particularly popular destination for fishing lovers from all across the continental U.S.

Wyoming is well-known for its steak restaurants and diners, serving traditional venison, bison and even locally caught game, along with more common beef and mutton. When ordering in Wyoming, expect large servings and rich food.

Yellowstone National Park, located on the state border, is a spectacular experience but also significant as it is the very first national park in the world.

Wyoming’s economy

Wyoming’s economy is relatively small in comparison to other states, with a GDP of only 27.5 billion USD. The tourism trade and mineral mining are the two central revenue sources, with Wyoming providing a great deal of American consumption needs of coal, natural gas, crude oil, diamonds, uranium and trona. An additional revenue source is the agricultural sector, producing beef, hay, sugar beets, wheat, barley and lamb wool, and constituting an important part of the local culture.

In terms of establishing a company in Wyoming, the state imposes no income tax on corporations or individuals, and there is a great diversity of tax benefits for companies and individuals. Second after Alaska, Wyoming receives the greatest amount of federal aid from the U.S. (twice the average sum).

Additional information about establishing offshore companies in Wyoming:

General
Type of company
LLC
Relevant Companies Law

Wyoming Limited Liability Company Act
 

Offices
Wyoming law requires companies to provide a local office address
Language of original incorporation documents
English
Finance and Taxation
Currency
USD
Corporate tax rate
0% - On the condition that company owners are not residents, do not conduct business in the U.S., and have no sources of income from within the U.S.
Standard share capital
Irrelevant
Office Holders
Secretary
Obligation to appoint company secretary
Not required
Obligation to appoint local secretary
Irrelevant
Type of entity that may function as company secretary
Irrelevant
Director
Obligation to appoint company director
Required (called “manager” – not “director”)
Obligation to appoint local company director
Not required
Minimum number of directors
1
Type of entity that may serve as company director
Individual and/or company
Shareholders
Obligation to register shareholders
Required (called “members” – not “shareholders”)
Obligation to register local shareholders
None
Minimum number of shareholders
1
Type of entity that may register as shareholder
Individual and/or company
Type of shares
Irrelevant
Accessibility of Information
Company registrar
information regarding office holders is not accessible to the public
Annual Assembly and Reporting
Obligation to hold annual assembly
Not required
Obligation to prepare financial reports
Required
Obligation to submit financial reports
Required