Wyoming is the preferred US state for asset protection structures, with the strongest creditor protection laws in the USA, no state income tax and a modern LLC law that offers maximum flexibility and discretion. The Wyoming LLC and the Wyoming Asset Protection Trust count as two of the most robust asset protection instruments in the English-speaking world.
Why Wyoming for asset protection?
Wyoming levies no state income tax, no corporation tax and no inheritance tax. Wyoming LLC law offers strong protection against creditors: creditors can obtain only a charging order against LLC interests; they cannot join the LLC or seize its assets directly. The Wyoming LLC is tax-transparent (pass-through taxation) and can be held entirely by non-US citizens.
The Wyoming Asset Protection Trust
The Wyoming Asset Protection Trust (WAPT) is a self-settled trust: the settlor can be a beneficiary at the same time. Wyoming was one of the first US states to allow self-settled trusts with full creditor protection. The deadline for challenging a transfer is only two years (four years in other states). Combined with a Wyoming LLC, it forms a multi-tier protective structure that holds up even against aggressive creditors.
The tax framework
Wyoming levies no state income tax (federal tax still applies to US persons). No corporation tax and no inheritance tax at state level. For non-US citizens without US income, a Wyoming LLC usually creates no US tax liability. The LLC is tax-transparent: its profits are attributed to the owner and taxed in the owner's home country.
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