Transfer to Wyoming
Tired of your state raising your fees, tripling what you used to pay, billing you for a business license that they said last year you did not have to pay, now billing you for two years and putting a late charge on top of it? If your company is current with the state it is in, you can re-domicile (transfer) your company to Wyoming for, in some cases, less than what they are charging you this year for fees. Next year your state fees, in most cases, will be $50! (You can move a company from any state or country).
Here are the details:
- You can move any type of US company. An LLC, corporation, partnership, or public company to Wyoming. This is also called a Continuance.
- Your company must be current with your state. The date for it’s renewal must be at least 6 weeks away, from the time you give us the order, to transfer the corporation to Wyoming.
- We will send you an electronic document to sign giving us the right to move the company. Then we will order a Certificate of Good Standing and Certified copies of the Articles from your state. Once we have those in hand we will combine those with the paperwork for Wyoming and submit it.
- In about a week, after that, we will send you a new corporate kit. It will include 20 new share certificates, new corporate seal and suggested meetings. We will also include the Articles of Dissolution that you must file with your current state. You may have to pay them a fee to file this.
- Once that is done you are done paying your state. Your company will show as dissolved in your state’s database. In Wyoming database it will show that it was a company formed in your state on such and such a date, moved to Wyoming on the date it was recorded in Wyoming.
You will gain the following benefits:
- Your yearly fee to the State of Wyoming will be $50, assuming that you have no assets located inside the state.
- Your company could come under the best asset protection laws in the nation.
- You will retain the original formation date of the company.
- You will retain the same tax id number.
- You will not have to move assets to a newly formed company, risking federal taxes.
- You will get the benefit of dealing with a company that has been doing this for over 12 years.
Reasons to move out of Delaware
Wyoming corporate law is clear in that Wyoming corporations may engage in stock buy-back programs without any restrictions. The restrictions that apply to payment of corporate dividends, in Delaware, are not included in the provision of Wyoming law that specifically authorizes stock buy-backs. The legal certainty provided by Wyoming law on this point is a clear advantage over the present state of Delaware corporate and case law. Additionally, there are substantial savings on state franchise tax. We have had public companies save over $250,000 per year in state fees, by re-domiciling to Wyoming.
The cost to re-domicile is $595 plus any fees that your current state charges for documents and filings.
If you are moving a company, check with your attorney to see if your company is doing anything that would require it to be registered in the state you are moving from.