United Kingdom vs Wyoming, USA
Wyoming is £26 cheaper in year 1. The United Kingdom is £17 a year cheaper after that.
| United KingdomPrivate limited company (Ltd) | Wyoming, USALLCStart with Zenind | |
|---|---|---|
| Costs | ||
| Minimum, year 1 | £170 | £144 |
| Minimum, per year after | £50 | £67 |
| Typical year 1 | £1,510 | £742 |
| Government fee | £100£100 online | £77$100 Articles of Organization |
| Indirect setup | £20–300 | £0–300 |
| Running per year | £50–2,600 | £67–962 |
| Share capital | £1 | None |
| Rules | ||
| Directors | No local director | No local directorYou need a registered agent in Wyoming. |
| Remote setup | Fully remoteDirectors must verify their ID with Companies House. | Fully remoteAn EIN for foreign owners takes 2 to 6 weeks. |
| Audit | No audit for small companies | No audit |
| Time to form | 1 to 2 days | 1 to 2 days (EIN extra) |
| Ease for foreign owners | 5/5 | 4/5 |
| Tax and banking | ||
| Corporation tax | 19% / 25%25%, or 19% on profit under £50k. | 21%An LLC pays no entity tax, and Wyoming has no state income tax. |
| Dividend withholding | None | 30% dividend withholding, 15% for UK individuals. |
| VAT / GST | 20% | 4%4% sales tax on sales in Wyoming. |
| Banking | 3/5High street banks often refuse non-residents. Wise, Revolut, Airwallex and Tide usually work. | 3/5Mercury, Relay and Wise work remotely once you have an EIN. Traditional banks want a visit. |
| All company setup fees in the United Kingdom | All company setup fees in WyomingUse ZenindAd | |
Questions
Is the United Kingdom cheaper than Wyoming for company setup?
No. Wyoming is cheaper, at least £144 in year 1 against £170 for the United Kingdom.
Which is cheaper to run each year?
The United Kingdom, at least £50 a year against £67 for Wyoming.
Which needs a local director?
Neither. You can run a company in either without a local director.
Which is faster to set up?
About the same. Both take 1 to 2 days.
How does corporation tax compare?
The United Kingdom: 25%, or 19% on profit under £50k. Wyoming: An LLC pays no entity tax, and Wyoming has no state income tax.
Sources: Companies House · PwC · Wyoming Secretary of State