Forming a Company Doesn’t Need To Be Confusing. Here’s What Happens After You Purchase…
There’s a lot of confusion when forming a new company. That’s because there’s very little information on how formation services actually work.
Who really forms your company? Is it a lawyer, or a team of virtual assistants on the other side of the world?
What address is your business being registered at, and what’s the reputation of that address?
And if something goes wrong six months from now, who picks up the phone? (if anyone?)
These are the questions most formation services hope you don’t ask. Faceless websites and one-click checkouts work best when no one looks too closely at what’s behind them.
We work differently. We believe that you should know exactly what’s happening, who’s doing it, and why.
We’re not the cheapest option, and we’re not trying to be. We’re the friendly formation service backed by a local lawyer for founders who want it done professionally the first time.
That’s why we’re giving you a step-by-step breakdown of what happens when you work with Start in Wyoming. No surprises, no hidden costs, and no guessing who’s on the other end of the email.
On this page...
How Long Does it Take?
Here is a timeline of what happens after you purchase. We like to do things quickly but correctly. We structure the formation so that we understand your needs before we file anything. This ensures that you’re setting things up correctly.
1 Hour = Legal consultation with our attorney
We arrange this at the first available date after purchase.
1 Business Day = Your company is formed and ready to use
We file your company and provide your office address and lease agreement one business day after your legal consultation.
2 – 4 Weeks = Receive your EIN
We fax your EIN paperwork to the IRS. The average return is two to four weeks for non-residents without an SSN or ITN. You can receive the EIN immediately if you have an SSN or ITIN.
1 – 3 business days = Open a bank account
We will help you to open a bank account with Mercury or Relay (if eligible). For Relay, we can fill out the application for you.
If all you need is a single-member LLC and you’re happy to get the EIN and bank account yourself, you can purchase our Simple Formation package. It includes anonymous LLC formation, one year of registered agent, and a template operating agreement.
What Information Should You Have Ready?
We need to collect basic contact information from the designated contact to act as their registered agent.
We collect this information via the purchase forms linked on the website. You will need to have the following information ready:
- Name
- Phone number
- Email address
- Company name
- Will it be a single-member or multi-member company?
Please provide your full legal name. We will need this to fill out documents correctly. Write your company name how you would like it to appear on your formation.
For purchasers of the Complete Formation, we will securely process a scanned copy of your passport. This will be done after you purchase.
We can provide a template operating agreement. An operating agreement isn’t required in Wyoming, but it outlines the company’s ownership. The operating agreement is not submitted to the state, so any personal information remains private.
Will My Company Be Anonymous?
Yes, if you purchase one of the formation packages, your personal details will be anonymous to the state. Wyoming doesn’t require ownership information like some other states.
However, Wyoming does require an ‘organizer’ to be provided. The organizer is the name of the person who files the company. If you file with Start in Wyoming, our name will be there, keeping your details anonymous. The organizer has no control over your company.
What Happens After You Purchase?
We have two formation packages. We want to keep it as simple for you as possible.
If you’re unsure of the difference, you can take a look and then come back to this page.
Purchasing the Complete Formation
The Complete Formation is the all-in-one solution for non-residents to form a professional Wyoming company. It’s also for those who want to work directly with a lawyer.
We can form the following types of companies:
- LLCs (Single and multi-member)
- C-Corps
- S-Corps
We don’t currently form trusts, but this might change in the future.
- Legal Consultation
The first thing we do is arrange a call with Alex, our attorney. We do this before we form anything to ensure you’re setting up things correctly. You will receive up to an hour of legal advice from a working attorney in Wyoming.
2. Anonymous Company Formation and a Professional Lease Agreement
You will receive a separate office address and unique suite number. This suite number will not be shared with any other business. We will use this office address as the principal and mailing address when filing your company. You will also receive a professional lease agreement in your business’s name. You also have the option to purchase an Internet utility bill. This means all of your documents will match, enhancing the professional appearance of your company and making verification with payment processors like Stripe easier.
3. Operating Agreement
We will send the Articles of Organization, operating agreement, and a cover letter for your new company. The operating agreement is something you can discuss on your call with Alex to ensure it’s right for your business.
4. EIN
We will file your EIN with the IRS. For non-U.S. residents without an SSN or ITIN, we will do this via fax. We have found this to be the best method. Our team will handle the paperwork. You just need to print out the form, sign it by hand, and then scan it back to us. We will receive your confirmation letter, scan it, and email it as soon as it arrives.
5. Bank Account Opening
We will proceed with opening the bank account once we receive the EIN confirmation letter. We are official partners of Mercury and Relay Bank. We recommend Relay because we can open the account for you. This avoids getting stuck in the automated review process with no human oversight and has a much greater chance of successful account opening. All you need to do is fill out a form, and we will do the work. We can also provide a partner link and instructions for Mercury.
6. Ongoing Compliance
Start in Wyoming will continue to act as your registered agent. The registered agent renews at $125 the following year. We will contact you before this payment to check if you want to proceed. We will also file your annual report with the Secretary of State. You just need to cover the $60 minimum state fee, and we’ll handle the rest. No hidden fees or upsells.
What If I Want To Do the EIN and Bank Account Myself?
The Simple Formation is a great option for anyone who wants to form a single-member LLC. It includes one year of our registered agent service and a template operating agreement. Everything you need to have an anonymous and active Wyoming LLC.
It does all of this while avoiding the overused and low-quality addresses most formation services use to create your business. More on that here.
Additional Services
Many entrepreneurs choose to pair the Simple Formation with additional services that we offer.
- EIN Application ($200) – We will prepare the EIN application form for non-U.S. residents and fax it to the IRS. We will also receive the confirmation letter and scan it via email as soon as it arrives.
- Virtual Office Service ($100 a month) – Receive a physical office address in Wyoming with a lease agreement. If you purchase this at the same time, we can use the office address to form your company.
Getting a Bank Account
Purchasers of the Complete Formation and the Virtual Office will receive hands-on guidance on opening a business bank account. This is a core part of our service as we understand it’s vital to the success of your company.
You can see if you’re eligible for a bank account and how that process works by reading our bank account opening guide.
Purchasing the Virtual Office
We call this a “virtual” office, but it’s a real office in Wyoming that you can lease remotely. We have set this up to make things as easy for international business owners as possible.
We can open a Relay for your business. We will collect some information from you and have our partnership representative at Relay open the account. Less work for you, and a higher chance of success.
We recommend Stripe as the easiest payment processor to verify. Amazon Seller Accounts are also possible to open by requesting a utility bill. You can read our guide on opening an Amazon Seller account here.
What Information Do We Need?
We will ask you a few questions to establish if the virtual office is the right fit for your needs.
- Your full legal name
- Your company name
- What country are you living in?
- How do you plan to use the address?
The details provided here are used to create the lease agreement. You should provide the details of the person who will be signing the lease, not an employee or contact person.
You should provide as much detail as possible about how you plan to use the lease. This allows us to help you better. We have instructions for some uses of the lease, such as banking or opening an Amazon Seller account.
We will also check that banking is available in your country. All of the FinTech banks, such as Mercury and Relay, have a list of countries for which they cannot provide banking services. The virtual office cannot help you to get around these regulations. If you’re unsure, contact us to check.
What Happens After Purchase?
We will review your submission and may contact you via email with more information. Keep an eye out for your email inbox. We aim to process all lease agreement purchases in one business day.
- Lease Agreement
We will send a professional lease agreement in your business’s name with an office address. This office address will include a suite number that is not shared with any other business. The lease does not contain the word virtual anywhere.
2. Banking
If you need banking, we can provide partner links for Relay and Mercury. We will provide instructions on how this works. We recommend Relay because we can open the account for you.
3. Utility Bill
We can connect you with an Internet Service Provider to receive an Internet utility bill in your business’s name. This costs around $60 a month and is paid directly to the Internet provider. We don’t make any money from this. We do this so your business has the option for additional proof of address. Something that most virtual office providers won’t help with.
4. Continued Support
We’re always an email away. Things change quickly in this industry. We’re seeing businesses get more and more verification requests. Sometimes multiple requests for the same account in one year. This is the new normal. You should be prepared for this. We do everything we can to stay on top of this. If something changes, we’ll be here to help your business get through it.