HOME 

CONVERTING A NEVADA CORPORATION TO A WYOMING CORPORATION

$1995 for a nine year old shelf company for a limited time.  Ask for the list here

WHY CONVERT A NEVADA CORPORATION TO A WYOMING CORPORATION?

1.  Nevada filing fees are too high, and rising. 

Nevada's Annual List of Officers is $125  VS.  Wyoming Annual Report $50

Fees are scheduled to increase in 2009.

2.  Nevada plans an income tax.  Don't believe it?  See this article in Gaming Magazine.

Why is this happening in Nevada?  In the past, the mining and casino taxes covered the needs of the residents of Nevada.  The population explosion and economic growth has created a heavy strain on state budgets, now in the red, for social services, education, police, and infrastructure development.

Wyoming's population has remained level, at only 500,000 residents, for the last ten years.  And the State of Wyoming is in the black.  Wyoming has no income tax.  This is a plus if you're really doing business out of Wyoming.  Check with your tax advisor to see if you must file to do business in your own state.

3.  State business license required in Nevada. 

NV State Business License requires list of stockholders, their SSN, and % of ownership disclosed as of June 1, 2005.  Applies for all corporations and LLC's, even if you DON'T do business in Nevada.  Privacy is dead in Nevada.  PROOF

Many incorporators in Nevada are not talking about this requirement.  Failing to file this Nevada business license can lead to the following consequences:

  • The filing fee of $100 increases to $200
  • Corporate credit can be cancelled or difficult to obtain since the corporation is no longer in compliance with the State of Nevada.
  • The corporate veil is weakened.

In contrast, Wyoming doesn't require a business license and doesn't collect stockholder data.

4.  The Secretary of State of Nevada SELLS your information to information clearinghouses.  And they sell it to the IRS through a company called ChoicePoint.  Don't believe us?  Call them at 775/684-5708.  For years, Nevada has been promoting that they don't have an information sharing agreement with the IRS.  So what?  Ok.  You don't share the information, you sell it.  I can see how that protects privacy.

Wyoming can't share or sell information they don't collect.

WHAT DOES IT COST?  IS IT WORTH IT TO MOVE THE NEVADA CORPORATION TO WYOMING?

NEVADA   WYOMING  
Yearly Expenses:   Yearly Expenses:  
Annual List of Officers: $150 Annual Report: $50
Annual Business License: $500 No Business License: $   0
Registered Agent Fee:  Regularly  $100 Our RA Fee:  $  75
Your Virtual Office/Mail Forwarding: $900 Our Virtual Office: $200-400
SAVINGS:
TO DOMESTICATE IN WYOMING
Copy of Articles of Incorporation: Costs  $2 per page (usually about 10 pages) and $30 for the certification.
Expedite fee for the articles: $75  Nevada takes about 4 to 6 weeks to provide these documents without the expedite procedure.
Dissolve the corporation in Nevada $75.  Another $125 if you want it expedited.

DO YOU WANT TO DOMESTICATE OR CONTINUE THE COMPANY? WHAT'S THE DIFFERENCE?

The effect is the same. 

Continuance:  You intend to continue the corporation in Wyoming as if it existed there the entire time. 

Domestication:  You dissolve the Nevada corporation after you file in Wyoming. 

As to not confuse anyone, it's easier to file ARTICLES OF DOMESTICATION.

HOW DO I DOMESTICATE MY NEVADA CORPORATION IN WYOMING?

COMPLETE THE ARTICLES OF DOMESTICATION AND MAKE A COPY OF THE DOCUMENT

1. The document may be executed by the Chairman of the Board, President or another of its officers.

2. The following documents must accompany the application:

a. A certified copy of its original articles of incorporation and all amendments thereto currently certified within six (6) months.

b. A certificate of good standing not more than thirty (30) days old.

c. A written consent to appointment manually signed by the registered agent.

After this is completed, dissolve the corporation in Nevada.

HOW DO I CONTINUE THE CORPORATION IN WYOMING?

Most people want to preserve their incorporate date, because an older corporation appears to be more established than a newer one.  This procedure is called a CONTINUANCE.  We can handle this for you by assigning us as a corporate officer of the company.

In Wyoming, a corporation can be continued as if it existed there the entire time.  This means that a corporation in Nevada, the Netherlands, or even Costa Rica can be continued in Wyoming, as if it was always in Wyoming from the beginning.

1. COMPLETE THE ARTICLES OF CONTINUANCE

Instructions:

1. The application shall be executed by the corporation by its president or other officer, director, trustee, manager or person performing functions equivalent to those of a president and who is authorized to execute the application on behalf of the corporation and shall be verified by the officer signing on behalf of the corporation.

2. The application shall be accompanied by one (1) exact or photo copy.

3. The following documents must accompany the application:

a. A written consent to appointment manually signed by the registered agent

b. A copy of the Articles of Incorporation and all amendments currently certified (within the last six (6) months) by the proper officer of the state or nation of incorporation.

c. A document from an official of the foreign jurisdiction indicating that the company will be dissolved after it continues to Wyoming.

d. A copy of the corporate resolution authorizing continuance of the corporation in Wyoming.

NEVADA WILL CHARGE YOU FOR THE DOCUMENTS.  HOW MUCH?  NEVADA FEES HERE.

 

 

ASSETPROFILE.COM

SHELF COMPANIES  .  BUILD CORPORATE CREDIT  .  TRANSPARENCY

 

109 EAST 17TH STREET, SUITE 25, CHEYENNE WY 82001

Office 307.237.2580, Fax 702.920.8824,  EMAIL

 All Rights Reserved