The New Mexico LLC for Non-US Residents
When international founders research the best US states, they usually hear about Delaware and Wyoming. But there is a hidden third option that is actually the cheapest state in America to maintain an LLC: New Mexico.
Quick Answer
New Mexico offers the exact same privacy benefits as Wyoming, but it has $0 annual state fees. While Wyoming charges $60 minimum a year and Delaware charges $300 a year, New Mexico requires no annual report whatsoever. It is the ultimate "budget" state for non-US residents.
Key Points for 2026
- No Annual Report: Once formed, you never pay the state of New Mexico again.
- Anonymous: Like Wyoming, New Mexico does not publish the names of the LLC owners online.
- Registered Agent Required: You still must pay a Commercial Registered Agent ($50/year) to maintain a physical address in the state.
Why Choose New Mexico?
1. The Lowest Lifetime Cost
If you plan to keep your LLC open for 10 years, New Mexico will save you over $600 compared to Wyoming, and over $3,000 compared to Delaware. The initial formation fee is only $50, and there are zero recurring state fees.
2. The "Set It and Forget It" Entity
Because there is no annual report to file, there is no risk of the state dissolving your company because you forgot a deadline. (Note: You must still file IRS Form 5472 annually.)
3. Privacy
The state only requires the name and address of your Registered Agent to be listed on the public Articles of Organization. Your personal name remains private.
Because New Mexico is less famous than Wyoming or Delaware in the corporate world, some traditional US banks (and foreign banks) are less familiar with its documents. While fintechs like Mercury or Relay usually have no problem with NM LLCs, traditional banks might require extra scrutiny.
New Mexico vs. Wyoming
If both states are private, why is Wyoming more popular?
Wyoming has a stronger reputation for asset protection (charging order protection) and has heavily marketed itself as a corporate haven since 1977. Wyoming's legal system is better equipped to handle corporate lawsuits.
However, if your goal is simply to get an EIN, open a Stripe account, and run a low-risk e-commerce store from abroad, the New Mexico LLC is functionally identical to Wyoming but costs less to maintain.
What to Do Next
- Compare States: Check out our guide on the Wyoming LLC to see if the $60 minimum/year is worth the stronger brand recognition.
- Learn About EINs: Once you form the NM LLC, read our guide on getting an EIN without a Social Security Number.