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.

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 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).

General Information


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


Company Secretary (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

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