Wyoming VS New Mexico LLC What is better?

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MikeG

New member
You can apply for an EIN yourself without a registered agent. The process is free and you can do it through an online US fax number.
There is a REALLY awesome guide here which I followed: How to Apply for EIN (for your LLC) without an SSN or ITIN | LLC University®
and it worked perfect. Takes a few days but IRS will fax it to your online fax number and you get an email straight away. Very easy. Don't pay a registered agent to get an EIN for you - you can do it free with a little bit of work.
great info
 

Piano

Entrepreneur

EliasIT

Corporate Services
Mentor Group Gold
I personally know several people who opened up us bank accounts (BofA, Wells Fargo) for their non resident llc.
that's interesting, did they travel to the US and visited the bank or did they already live there? I believe it is not possible to open a US bank account remote unless you know someone.

NM does not have good asset protection statutes. WY on the opposite has excellent charging order.
in your opinion, Wyoming is still the better solution if privacy matters?
 

hdloader11

New member
that's interesting, did they travel to the US and visited the bank or did they already live there? I believe it is not possible to open a US bank account remote unless you know someone.


in your opinion, Wyoming is still the better solution if privacy matters?
You can get a bank account from Mercury, which is good enough for until you find time to visit USA in person.
 

Eldorado

New member
long time not been here. Need New Mexico company and banking with Mercury bank. What service provider to use for the company setup please?
I used North West. They can help you with a whole process, but IMO applying for EIN and then for account in Mercury is manageable by anybody who's smart enough to run business.
But of course you can pay them extra to go through the whole process without even moving your finger
 

Patrick846

Active Member
in your opinion, Wyoming is still the better solution if privacy matters?

For privacy they are the same in my opinion. And I would chose NM for the cheaper price and no yearly renewal fee. I have myself a few NM LLCs that have no assets, or are owned by a WY holding LLC to get the WY charging order.
For asset protection, WY is way ahead. So if you need privacy and asset protection, choose WY.
 

Asterion

New member
For anyone fawning over how MUCH cheaper a NM LLC is compared to a WY LLC (which in turn is cheaper than a Delaware LLC)... is the business venture you are planning such a smalltime thing that a few hundred dollars a year are a matter of life and death (or almost)?

If so, you might want to consider not being in business at all? Unless you were planning to have multiple LLCs...

long time not been here. Need New Mexico company and banking with Mercury bank. What service provider to use for the company setup please?
I was quite pleased with L4SB (Law 4 Small Business). Law firm that does registered agent too. Can't remember a time they didn't pick up the phone when I called.
 

uplana

Corporate Services
Mentor Group Gold
such a smalltime thing that a few hundred dollars a year are a matter of life and death (or almost)?
I agree, a few hundred dollars should not stop you if you plan long term!

I was quite pleased with L4SB (Law 4 Small Business). Law firm that does registered agent too. Can't remember a time they didn't pick up the phone when I called.
do the offer registered office too? accounting? tax filing?
 

Asterion

New member
I agree, a few hundred dollars should not stop you if you plan long term!


do the offer registered office too? accounting? tax filing?
Yes, registered agent with their office, they get your mail and all that. And they are mostly lawyers and paralegals. Can't remember about accounting and tax filing because that venture of mine kinda aborted. But at the most they will have a few selected CPAs available. Really good people.
 

Eldorado

New member
any restrictions on the volume you put through them, everyone is happy with them for their Wyoming or NM LLC ?
Haven't reached 6 digits yet, so no troubles. But tbh Mercury has some award scheme for accounts with more than 250k USD deposit. Actually you'll receive a tea. But the point is they not so afraid of 6-7 figures
 

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