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Fothermucker

New member
Has anyone here ever considered a Florida LLC? From what I've read they don't offer any anonimity but besides that it is almost the same as others. Don't know if it helps but it is easier for me to travel do Florida to open a bank account there. The lack of anonimity may also help for opening a bank account. My purposeis only getting access to the stock market.

By the way, can anyone explain this? In TD Ameritrade website it says that Wyoming requires 2 or more members in a LLC to open an account there. If I open a disregaded Wyoming LLC can't I open broker accounts?

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There is NO requirement that your bank account has to be in the same state where your LLC is registered.
You can start an LLC in WY or NM (for anonymity) and open a bank account for it in ANY state of your choice.
Las Vegas, Miami or NYC are popular choices because banks there are used to dealing with foreign clients.
 

Dom pedro

New member
There is NO requirement that your bank account has to be in the same state where your LLC is registered.
You can start an LLC in WY or NM (for anonymity) and open a bank account for it in ANY state of your choice.
Las Vegas, Miami or NYC are popular choices because banks there are used to dealing with foreign clients.
Thanks. Is there any disadvantage in a Florida LLC? It seems cheaper than Delaware but more expensive than NM and WY. Maybe also less registered agents to choose from. Honestly I don't want anonymity. I will report this company in my way to my local tax authority anyways. But maybe I am missing something, as there must be a reason why it is never commented.

Btw, the last print I posted made me hesitant about WY. Can anyone here confirm they were able to open a broker account with a WY single member disregarded entity?
 

Dom pedro

New member
What's the reason to open a US company at all if anonymity or privacy doesn't matter ?
Tax optimization. Although in US LLCs are pass through entities, I was able to confirm with a local lawyer that for my country the only thing I need to report is "Shares of company XXX" and I would need to pay taxes only on the dividends I pay myself or if I sold the company someday for a profit. This allows me to reinvest the profits and accumulate more wealth over time. If someday I move to a territorial tax country I can basically cash out everything I accumulated without paying anything.
Anyway, even if my name appears in Delaware or Florida public records I believe I have some privacy. My local tax authority will only know that I have the company, not the transactions I make, unless they specifically target me in a investigation.
 
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Fothermucker

New member
FL is a popular choice especially among US residents for reasons of purchasing FL real estate and no sales tax.
Formation costs are reasonable, slightly higher than WY.
As far as I know, except for no anonymity there are no disadvantages to Florida LLCs.
 

Fothermucker

New member
Btw, the last print I posted made me hesitant about WY. Can anyone here confirm they were able to open a broker account with a WY single member disregarded entity?

States like WY, NM or DE don't have the best reputation because of anonymous LLCs . Does the same requirement shows when you try open a broker account with NM or DE entity?
 

fshore

Entrepreneur
It's a good idea to have your name listed on the certificate of formation, as it will make bank account opening easier. If it's anonymous then you also have to convince the bank that you are the owner and manager of this company.
 

Dom pedro

New member
States like WY, NM or DE don't have the best reputation because of anonymous LLCs . Does the same requirement shows when you try open a broker account with NM or DE entity?
No, only for WY. But maybe is not even a requirement of theirs, just missinfomation.
 

uplana

Corporate Services
Mentor Group Gold
It's a good idea to have your name listed on the certificate of formation, as it will make bank account opening easier. If it's anonymous then you also have to convince the bank that you are the owner and manager of this company.
I agree, you complicate the entire case with not showing your name.
 

Patrick846

New member
It's a good idea to have your name listed on the certificate of formation, as it will make bank account opening easier. If it's anonymous then you also have to convince the bank that you are the owner and manager of this company.
Banks will ask for your operating agreement in addition to your article of organization. If your name is a signatory or a member listed in the operating agreement you should not have any problem. I have multiple LLCs in WY and NM and never had any issue to open bank or brokerage accounts.
The only issue with banks is that they want a physical address for the business and/or owner and usually do not accept a PO box or a CMRA.
 

Admin

Forum Moderator
Staff member

fshore

Entrepreneur
Banks will ask for your operating agreement in addition to your article of organization. If your name is a signatory or a member listed in the operating agreement you should not have any problem. I have multiple LLCs in WY and NM and never had any issue to open bank or brokerage accounts.
The only issue with banks is that they want a physical address for the business and/or owner and usually do not accept a PO box or a CMRA.
Some banks require that, it depends on the bank. US bank for example requires it.
 

EuroKiss

Entrepreneur
Thank you, was what I was looking for. Wise is reliable I would not have any doubts to use them.
As I stated in other thread, for USA LLC they asked me SSN in September of past year, so if you don’t have SSN ask them before going to that route.
 

Dom pedro

New member
As I stated in other thread, for USA LLC they asked me SSN in September of past year, so if you don’t have SSN ask them before going to that route.
This is contrary to every other piece of information I`ve found on the Internet. What other people say is that not only you don't need a SSN, people could create Wise account even without EIN.

Banks will ask for your operating agreement in addition to your article of organization. If your name is a signatory or a member listed in the operating agreement you should not have any problem. I have multiple LLCs in WY and NM and never had any issue to open bank or brokerage accounts.
The only issue with banks is that they want a physical address for the business and/or owner and usually do not accept a PO box or a CMRA.

Do you think they would accept the Registered Agent address? If I opt for the owner address, can it be an address in my home country? If not, what options I have left? Actually paying for an office service?
 
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EuroKiss

Entrepreneur
This is contrary to every other piece of information I`ve found on the Internet. What other people say is that not only you don't need a SSN, people could create Wise account even without EIN.
yeah i know, in fact I just told my own experience and no way I assume it is a general rule, what I simply suggest is to check with Wise BEFORE incorporating a LLC as a non resident, which should be anyway common sense for each legal step.
Edit: anyway I am very skeptic about w/o EIN, I mean you need at least SSN, EIN or ITIN!
 

Jerry1911

Active Member
@Dom pedro which country are you from?
Tax optimization. Although in US LLCs are pass through entities, I was able to confirm with a local lawyer that for my country the only thing I need to report is "Shares of company XXX" and I would need to pay taxes only on the dividends I pay myself or if I sold the company someday for a profit. This allows me to reinvest the profits and accumulate more wealth over time. If someday I move to a territorial tax country I can basically cash out everything I accumulated without paying anything.
Anyway, even if my name appears in Delaware or Florida public records I believe I have some privacy. My local tax authority will only know that I have the company, not the transactions I make, unless they specifically target me in a investigation.
This sounds a lot like my home country...just want to confirm
 

PaulKruger

Specialist in anonymizing my own business!
Mentor Group Gold
As I described in my own thread in mentor group I have setup successfully a Wyoming LLC with Wise banking and some high risk payment processor for a medium risk business.

My business has been up and running since I started the thread (aprox 6 months ago) without issues so far!
 
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