No State Income Tax: Wyoming is renowned for its favorable tax policies, as it does not impose state income tax on individuals or corporations. This means that foreign entrepreneurs can enjoy significant tax savings and retain more of their business profits.
Strong Asset Protection: Wyoming provides robust asset protection laws, safeguarding the personal assets of business owners. This means that in the event of legal issues or bankruptcy, the personal assets of foreign entrepreneurs are shielded from business-related liabilities.
Business-Friendly Regulations: Wyoming boasts a business-friendly environment with streamlined regulations and a supportive legal framework. The state offers simplified reporting requirements, allowing for efficient business operations and reduced administrative burdens.
Privacy and Confidentiality: Wyoming values privacy and confidentiality, providing strict privacy laws that allow for the anonymity of business owners. This can be particularly advantageous for foreign entrepreneurs seeking to protect their personal information and maintain privacy in their business affairs.
Low Start-up Costs: Establishing a company in Wyoming is cost-effective, with low start-up costs compared to many other states. This makes it an attractive option for foreign entrepreneurs looking to launch their dropshipping businesses without significant financial burdens.
By considering these advantages, foreign entrepreneurs can make an informed decision when choosing Wyoming as the ideal location for opening their dropshipping companies.
Important Note! Entrepreneurs from countries under US sanctions are not allowed to open a company in the US.
Opening a Company Without Going to Wyoming
Yes, you read it correctly. You don't have to travel to the US to open a company. All you need is a valid passport and some money. There are agencies in the US that offer company registration services for non-US residents, but their prices are unreasonably high, ranging from $600 to $2000.
Opening a company can cost you between $250 and $350. If you go to the homepage of this website and scroll down to the bottom, you will see that my company is also registered in Wyoming. I am not a US citizen.
At the beginning of this blog, I promised to safely guide you through the turbulent waters of dropshipping, full of lies and scams. I will keep my promise, and you will be completely safe if you follow my instructions.
The safest, fastest, and most cost-effective way to open a company in the US is by hiring freelancers on the Fiverr platform.
Fiverr is an online marketplace where freelancers offer their services in various fields, such as graphic design, web development, content writing, and more. It provides a platform for businesses or individuals to connect with talented freelancers and hire them for specific projects or tasks.
From my experience, having completed over 50 freelancing engagements on Fiverr, the customer support is impeccable. Your money will be secure until you confirm your satisfaction with the work provided by the freelancer you have hired.
Here, for the first time, you are encountering an affiliate link. If you click on Fiverr, register on the platform, and hire a freelancer, I will earn some money. You won't lose anything, and I will earn a small commission from Fiverr. This is one of the ways to earn money online. Of course, if you feel that I don't deserve it, simply type Fiverr.com into your browser, and you're there.
On the platform itself, simply enter "LLC company" in the search bar. You will receive results with all the freelancers who specialize in opening a company in the US. Search based on their prices and ratings. Ratings are crucial and show you the experiences of other buyers. You can also read customer comments and make a decision on whom to hire based on that.
When you select a freelancer, don't hire them immediately. Send them a message, explain what you want and how you want it, and try to negotiate a lower price. All your conversations are recorded as evidence, and customer support makes judgments based on them and the seller's offer in case of any issues. If the seller offers to communicate on WhatsApp or any other platform, be aware that they may be a scammer, and report them immediately to customer support. They will be removed from the platform and will never be able to work again.
Complete Package for Opening a Company:
· LLC Name and Availability Report
· LLC Formation service
· Federal Tax ID (EIN) Registration
· Registered Office address in USA
· Mailing Address in USA
· Business Bank Account in USA
· Company Annual Filing
· International Mail Forwarding
· Company Management Portal
· ITIN Registration
· US Phone Number
· Business Email
Company approval documents
LLC Articles of Organization
LLC Certificate of Incorporation
LLC Certificate of Good Standing
LLC Certificate of Organizations
EIN Tax ID
Login Credentials for Business access Portal
The average time for opening such a company is 15 days. Please pay attention to the following two items: EIN and US bank account.
EIN stands for Employer Identification Number. It is a unique nine-digit number assigned by the Internal Revenue Service (IRS) to identify your business for tax purposes. Think of it as a social security number for your company. The EIN is required when hiring employees, filing tax returns, and conducting certain business activities in the United States.
To obtain an EIN, you'll need to apply with the IRS. This can be done online, by mail, fax, or phone. The process is relatively straightforward and typically does not require a lengthy waiting period.
Having an EIN is crucial for conducting business in the US, as it allows you to comply with tax regulations and establish your company's legal identity. It is an essential requirement when opening a US bank account and filing taxes.
Thank the seller for the offer of opening a bank account in an American bank but inform them that you will handle it yourself. It is not advisable to provide the seller with your credit card number and security code. You will need that information for opening a bank account, along with the previously mentioned EIN.
When the seller delivers your order, carefully inspect it before accepting the delivery. Remember, until you accept the delivery, you can request revisions or modifications from the seller. By accepting the delivery, you agree that the seller has fully met the requirements of the order.
Remember, whether you are dissatisfied with a freelancer's work or your order is delayed, you can always reach out to Fiverr customer support. You will be pleasantly surprised by their responsiveness and agility.
Congratulations! You have just obtained an American LLC company. In the next post, we will discuss opening a bank account in the US and delve into further steps in the realm of dropshipping. Stay tuned as we navigate through the intricacies of this exciting venture.
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