If you are a non-US founder researching where to form your company, MyCorporation is one of the names you will run into early. It has been around since the late 1990s, it files in all fifty states, and it sells the full menu of business services that a US small business owner might want over a decade of operation. WyomingLLC is a much narrower tool: it exists to get a non-resident a Wyoming LLC, an EIN obtained without a Social Security Number, a registered agent, and a path to a US bank account, for one flat fee of $397. This comparison is meant to be honest about both. There are real situations where MyCorporation is the better pick, and we say so plainly below.
What MyCorporation actually does well
MyCorporation is a long-established, full-service incorporation company. Its core competence is breadth. It will form an LLC, a C-corp, an S-corp, or a nonprofit in any state; it handles DBA (fictitious name) filings, trademark searches and applications, copyright registration, business license research, and ongoing annual compliance such as annual report filing and registered agent service in any jurisdiction. For a US-based entrepreneur who is going to do several different filings over the years, having one vendor that can do all of it is genuinely convenient.
The second thing MyCorporation does well is reassurance. It is an old brand with a large volume of customers, a recognizable name, and a support organization built around US small business owners. If your mental model of "doing it right" is hiring an established American company and getting a thick packet of documents, MyCorporation fits that picture. It is not a fly-by-night operation, and nothing in this article should be read as suggesting otherwise.
The third strength is its compliance and trademark depth. MyCorporation leans into intellectual property and ongoing maintenance services more than most low-cost formation shops. If trademarking your brand name or staying on top of annual filings across multiple states is a real part of your plan, that is a category where MyCorporation has invested and WyomingLLC has not.
Where WyomingLLC is different by design
WyomingLLC does one thing: Wyoming LLCs for people who do not live in the United States and usually do not have a Social Security Number. That focus changes everything about how the service is built. The EIN is obtained by faxing a Form SS-4 to the IRS under the "foreign, no SSN" procedure, which typically takes eight to ten business days rather than the instant online issuance a US person with an SSN would get. The bank introductions are to Mercury, Relay, and Wise, which are the realistic options for a foreign founder, rather than to a local branch you would have to walk into.
It is important to be precise about what those banking introductions are. Mercury, Relay, and Wise are fintech platforms that hold deposits at FDIC-insured partner banks; they are not themselves chartered banks. An introduction is not an approval. Whether any of them onboards you is the provider's own decision, and it depends heavily on your country of residence and the documents you can produce. Some countries are on provider exclusion lists, and those lists change, so you should always check the provider's current eligibility page before assuming you qualify. WyomingLLC can make the introduction and prepare your paperwork; it cannot guarantee an account.
The formation itself is fast. The Wyoming LLC is typically formed within about 24 hours. You do not need to visit the US, you do not need a US address of your own (the registered agent address is provided), and you do not need a visa. That non-resident-first plumbing is the actual product, and it is the thing a generalist incorporator is least optimized for.
Real pricing, stated honestly
Pricing on both sides moves, so treat every figure here as approximate and verify the current numbers on each company's own site before you buy. MyCorporation typically advertises formation packages starting around $99 for a basic tier, with mid and premium tiers commonly in the roughly $150 to $249 range, and all of those are before the mandatory state filing fee, which is set by the state and is separate. On top of that, the lower tiers are priced to be upgraded: registered agent service, the EIN, an operating agreement, expedited processing, and compliance reminders are frequently positioned as add-ons or as reasons to move up a tier.
WyomingLLC is a single price: $397, all-inclusive. That covers the Wyoming formation, the state filing built in, one year of registered agent service, an operating agreement, the EIN obtained without an SSN, and the Mercury/Relay/Wise introductions. An ITIN, if you need one, is a separate add-on rather than part of the base price. The point of the flat fee is that the number you see is the number you pay; there is no tier ladder to climb.
Here is the rough Year 1 picture side by side. These are estimates for illustration, not quotes.
| Item | MyCorporation (typical) | WyomingLLC |
|---|---|---|
| Advertised base formation | ~$99 to $249 | $397 (flat) |
| State filing fee | Separate, varies by state | Included |
| Registered agent (yr 1) | Often an add-on or higher tier | Included |
| EIN | Often an add-on | Included (no SSN, 8-10 business days) |
| Operating agreement | Often an add-on | Included |
| Bank introductions | Not a focus | Mercury / Relay / Wise included |
| Non-resident specialization | General service | Core purpose |
The honest reading of that table: MyCorporation's headline price can look lower, but it is a base price that often grows with add-ons, and it is a generalist service. WyomingLLC's price looks higher at the headline but is the bundled total for a non-resident-specific package.
The five-year cost math
The first-year price is the part everyone fixates on, but an LLC is a multi-year commitment, and the recurring costs are what actually determine the total. Both companies charge an annual registered agent renewal after the first year, and Wyoming itself charges an annual report license tax, which is a minimum of about $60 per year for most small LLCs with little in-state property. Wyoming has no state income tax and no franchise tax, so that small annual report tax plus your registered agent renewal is essentially the recurring state-side cost.
Let me work a concrete five-year example so the comparison is not hand-wavy. Suppose you form a Wyoming LLC. With WyomingLLC, Year 1 is $397 all-in. For Years 2 through 5, assume a registered agent renewal in the roughly $100 to $150 range plus the ~$60 Wyoming annual report tax, so call it about $160 to $210 per year. Five-year total: roughly $397 plus four years at, say, $185, which is about $1,137. With MyCorporation, suppose Year 1 lands around $200 for a mid-tier package, plus a state fee, plus the EIN and registered agent as add-ons, so realistically $300 to $400 once the necessary pieces are included. Then assume a comparable registered agent renewal plus the same Wyoming $60 each subsequent year. The five-year totals end up close, often within a few hundred dollars of each other.
The lesson from the math is not that one is dramatically cheaper over five years. It is that the difference is smaller than the Year 1 headlines suggest, and that the recurring Wyoming costs are the same regardless of who you file through because they are set by the state, not the vendor. So the decision should turn on fit and specialization more than on a small annual delta. Always re-check both companies' current renewal pricing, because renewal rates change and are not always the same as the first-year promotional rate.
When MyCorporation is the better choice
Be clear-eyed here: there are real scenarios where you should pick MyCorporation, or a generalist like it, over WyomingLLC. The cleanest one is if you are a US-based founder. If you live in the United States and have an SSN, you can get an EIN online in minutes yourself, you can walk into a bank, and you may not value non-resident specialization at all. A US founder who wants an established American brand and a one-stop shop for many filings is squarely MyCorporation's customer, not ours.
The second scenario is multi-state or multi-entity complexity. If you plan to register in several states, file DBAs, maintain compliance across jurisdictions, or run a corporation rather than a simple LLC, a broad vendor that does all of that under one roof can save you from juggling specialists. WyomingLLC is deliberately a Wyoming-LLC shop; it is not the tool for a fifty-state compliance program.
The third scenario is trademark and intellectual property work. If protecting your brand name through a federal trademark, or registering copyrights, is a near-term priority, MyCorporation offers those services directly. WyomingLLC does not file trademarks. Choosing a vendor that already does the IP work you need can be more efficient than forming with one company and trademarking with another.
The fourth, quieter scenario is annual compliance hand-holding. If you want a vendor that tracks your annual report deadlines across states and nudges you, MyCorporation's compliance suite is built for that. WyomingLLC keeps your registered agent and the Wyoming filing on track but does not currently sell a full multi-state compliance subscription.
When WyomingLLC is the better choice
The mirror image is just as clear. If you are a non-US founder without an SSN, WyomingLLC is built for exactly your situation, and a generalist will often leave you stuck at the parts that matter most. The EIN-without-SSN process via faxed SS-4, the Mercury/Relay/Wise introductions, the no-US-visit, no-US-address, no-visa setup: these are the steps where a US-centric service assumes facts about you that are not true, and where the process quietly breaks.
WyomingLLC is also the better pick if you want one transparent price with no tier ladder. The $397 figure includes the formation, the state fee, a year of registered agent, the operating agreement, the EIN, and the bank introductions. You are not going to start at a $99 tier and discover that the EIN and registered agent are extra. For a founder on a budget who wants to know the real number up front, the flat fee is a feature.
Finally, WyomingLLC wins when you want speed and a human you can actually reach. The LLC is typically formed within about 24 hours. Support runs over WhatsApp during business hours spanning the New York and Dhaka time zones, which between them cover most of the day, plus email. If you are operating from a time zone far from the US and want to message a person rather than file a ticket, that matters.
A worked example: a freelancer in Bangladesh
Consider a software freelancer in Dhaka who sells to US and European clients and wants a US LLC to invoice through and to open a Mercury or Wise account. She has no SSN and has never been to the US. With MyCorporation, she might pick a mid-tier package, then discover she needs to add the EIN service and explain that she has no SSN, then find that the bank-account step is not really handled because the company assumes a US founder walking into a branch. The pieces exist, but they are not assembled for her case.
With WyomingLLC, the path is assembled for exactly her case. She pays $397. The Wyoming LLC is formed in about a day. The EIN is obtained by faxing the SS-4 under the foreign-no-SSN procedure, which takes about eight to ten business days, so she should plan for that wait and not expect an instant number. She then receives introductions to Mercury, Relay, and Wise and prepares her documents, understanding that approval is each provider's decision and depends on her country profile. If Bangladesh-based applicants are accepted by a given provider at the time she applies, she has a realistic shot; if not, she checks the next provider's current list. That sequencing, and the honesty about the EIN timeline and the no-guarantee banking step, is the difference between a service designed for her and one designed for someone else.
Common mistakes and edge cases
The most common mistake non-residents make is assuming the EIN is instant. It is instant for someone with an SSN filing online. Without an SSN, it goes by faxed SS-4 and takes roughly eight to ten business days. Build that into your timeline, especially if a payment processor or bank is waiting on it. A second frequent mistake is treating a bank introduction as a bank approval. It is not. Whether Mercury, Relay, or Wise onboards you is their call, and some countries are excluded; check the provider's current policy before counting on it.
A third edge case is the federal filing burden that comes with being a foreign owner, and it applies no matter who forms your LLC. A foreign-owned single-member LLC is treated as a disregarded entity and must file Form 5472 together with a pro forma Form 1120 every year. Missing that carries a penalty of $25,000 under the relevant rule, so it is not optional. The deadline is April 15, and you can request an extension with Form 7004. If your LLC has more than one member, it is a partnership that files Form 1065 with K-1s, due March 15. WyomingLLC does not file these for you, but it has referral partners for Form 5472 and tax filing; MyCorporation's compliance offerings are oriented toward US-entity needs, so confirm directly whether any vendor will actually handle the 5472 for a foreign owner.
A fourth point that confuses people: forming a US LLC does not automatically make you owe US income tax. The US taxes a non-resident only on income that is effectively connected with a US trade or business and on US-source FDAP income, which is taxed at a default 30 percent that only a tax treaty in force can reduce. Services you perform from abroad are generally treated as foreign-source. None of that changes based on whether you used MyCorporation or WyomingLLC; it is a function of the tax law, and you should confirm your specific situation with a CPA. One more reassurance on the compliance side: under the FinCEN interim final rule from March 2025, US-formed domestic entities are exempt from beneficial ownership reporting under the Corporate Transparency Act, so a Wyoming LLC you form is not a reporting company under that rule.
How switching from MyCorporation works
Switching is straightforward and can happen at any point in the year; you do not have to wait for a renewal date. The mechanism is a change of registered agent. You order WyomingLLC at $397. WyomingLLC files a Change of Registered Agent form with the Wyoming Secretary of State, which carries a small state fee of about $5. WyomingLLC then becomes your registered agent, which typically completes within five to ten business days. Once that is done, you cancel your MyCorporation subscription so you are not paying two agents. The whole migration usually completes in about two weeks.
A few practical notes. Your LLC, its EIN, and its bank accounts all stay exactly as they are; changing the registered agent does not change the entity or its tax identity, so there is nothing to re-open. Make sure your Wyoming annual report is current before or shortly after you switch, since that obligation belongs to the LLC regardless of which agent serves it. And keep a copy of every formation and EIN document during the handover, because your banking providers may ask to see them.
The bottom line
MyCorporation is a legitimate, established, broad service, and for a US-based founder, a multi-state compliance plan, or trademark work, it may well be the better choice. WyomingLLC is the specialist for the narrower, harder problem of getting a non-resident a working Wyoming LLC, EIN without an SSN, and a realistic path to US banking, at a single transparent price. Over five years the costs land closer than the headlines suggest, so let fit, not a small price delta, decide.
If you are a non-US founder and that specialized path is what you need, you can form your Wyoming LLC with WyomingLLC for $397 all-inclusive: the formation, the state fee, one year of registered agent, the operating agreement, the EIN obtained without an SSN, and introductions to Mercury, Relay, and Wise, with the LLC typically formed within about 24 hours.