Most people who form an LLC in New Mexico do not live in New Mexico. The state of New Mexico has become popular with privacy-conscious individuals, cost-conscious investors, and those looking to start e-commerce companies.
Advantages of New Mexico LLCs
LLC companies formed in New Mexico do not need to pay fees such as annual reports or annual franchise fees because there is no such practice in the state. Once you form your company, you do not have to pay any annual fee to the state every year. The company owner only needs to have one registered agent. These are just a few of the New Mexico LLC benefits available to those starting a business. The state allows LLC filings online, which allows us to file your LLC the same day and complete the setup within 1-3 business days.
This and the other items below demonstrate the NM Secretary of State's commitment to developing a business-friendly atmosphere.
Below we have listed some of the advantages of starting an llc in the state of New Mexico;
No Visit Required
You do not need to visit the state in person to form an LLC in New Mexico. It is possible to form your LLC company remotely online in a few days. Essentially, almost all states in Usa do not require a personal visit for LLC company formation, and the state of New Mexico, like other states, has laws that do not require a personal visit or in-person application.
You Don't Have to Be a US Citizen or Resident
In order to form an LLC company in the state of New Mexico, US citizenship or state residence is not required. You can form your LLC company in this state without having to go to the USA from where you live or without being a citizen.
No Annual Fees
Payments such as annual reporting, franchise tax or annual standard tax, which are $300 in Delaware and $60 in Wyoming, are not available in the state of New Mexico. Apart from the small payment you made when first forming your company, you do not need to make any extra payments to the government next year and in the following years.
Operating Agreement Not Required
When forming your LLC company, the state does not require you to prepare an operating agreement because this document is not required for the state. But you can still prepare one yourself for free. Or, when you form your LLC company through Northwest Registered Agent, a free operating agreement will be prepared and delivered to you. You can sign your operating agreement document and keep it aside because the state does not require a signed operating agreement from you.
No Minimum Capital Requirement
When forming a new LLC company in the state of New Mexico, you are not asked to provide capital for your company, there is no such requirement. In this way, you can create your New Mexico LLC in a few days at a cost close to zero.
LLC Members or Managers Are Not Required to Report
If the LLC company will have a structure with more than one member, it is not necessary for each partner or individuals selected as managers to be reported to the state. The state secretariat does not require members' information in any way and does not request any reporting at certain periods after installation.
Passport, ID, Residence Certificate Not Required
As in many states of Usa, in this state, documents such as passport, ID, driver's license and residence are not required from company owners during or after the application. Additionally, you don't need a phone number with a US area code or a website.
Anonymity (Privacy of the Company Owner) is Essential
The joint-stock structure, which is found in only a few states in the USA, is located in the state of New Mexico. Once companies are formed, company names are publicly published on state websites or portals. In most states, these published company documents publicly display the company owner's information, such as name, surname, phone number and email. In the state of New Mexico, company owner information is not publicly displayed, which shows that the state is anonymous. If you form an LLC company with Northwest in the state of New Mexico, they complete the setup in a way that does not show the identity of the company owner publicly. Some Registered Agents, such as IncAuthority, set up the information to be made public without choosing the anonymity option, so the information is listed publicly. Northwest is privacy-based because it files companies in the state-supported anonymous structure by default, you do not need to provide any additional instructions for the anonymous structure during installation.
LLC Setup Fees Are Very Low
Compared to many other states, LLC company formation costs in New Mexico are quite low and the installation fee for this state is only $50. Assuming you set up a New Mexico LLC with Northwest, you will pay $39 Northwest + $50 state filing fee for a total of $89. Additionally, thanks to the special campaign and discount we receive through Northwest, you do not pay the registered agent fee in the first year.
All the necessary details and a step-by-step guide to establishing an LLC company in the state of New Mexico with Northwest in this article .
What Can Be Done with New Mexico LLCs
Once you form a New Mexico LLC and obtain an EIN number for your company, you can do almost any type of business with your company.
- e-commerce
- Amazon
- ebay
- Etsy
- Software Company
- training company
- Shopify Dropshipping
- Subscription Sales
- Service Sales
- Consulting Company
You can form an LLC company in New Mexico for your businesses in many sectors such as these.
Forming an llc in Usa is a very simple initiative that requires few procedures and has no monthly expenses. If forming an llc in your country requires too many procedures or is too costly for you, you can form an LLC company in the USA (especially in New Mexico).
