Creating a LLC
The Limited Liability Company (abbreviation: LLC) as a business form for the founders of smaller and mid-size companies is a still relatively recent alternative to the corporation. The U.S. state of Wyoming founded the LLC for the first time in 1977. However, the business form soon became very successful with the result that today it can be chosen by company founders in all U.S. states. In contrast to the corporation, the LLC is not a stockholder company. However, it shares a range of other similarities with the corporation. Both company forms offer the owners limited liability, both can also be founded by individuals and you can operate exclusively from outside the U.S. without having to visit the U.S. with both kinds of businesses.
Great flexibility for the founder
Overall, the LLC offers the founder great flexibility in the creation of his or her company. There are no official bodies and hardly any binding rules making the LLC very popular with present-day founders. The flexibility is so broad that the founder in the U.S.A. can also decide whether his or her LLC will be run there as a partnership or as a stock corporation.