Forming a business in a state undoubtedly requires lots of responsibilities with legal paperwork. To pull apart your work, you can appoint a registered agent. While you start a business in Wyoming, appoint a Wyoming registered agent who gives a hand in maintaining your business. Here we talk about why Wyoming registered agent is mandatory for your business and what all expectation does it fulfil.
What is Wyoming Registered Agent?
The registered agent is a business entity responsible for legal activities on behalf of the business. The Wyoming registered agent should keep on top of things for your business to stay pliant. They handle all the important services and legal actions of the business. Every formal business in the state of Wyoming needs a registered agent by law. They act as a point of contact for all the communication carried out with the state of Wyoming.
Those registered agents who manage more than ten businesses are called commercial registered agents. Their responsibilities are the same as a normally registered agent. To carry out all the tasks given easily and maintain the reputation of the business, a registered agent is necessary. They fulfil the purpose of serving the lawsuit and maintaining a legal reputation in the state.
Why is it Mandatory to Assign Wyoming Registered Agent?
In reality, the role of a registered agent involves some nuance and costs $50. All businesses should compulsorily notify themselves of the secretary of state. To register your business with Wyoming SOS and secure it, you need to appoint an agent first. A registered agent is mandatory to specifically handle legal documents. To maintain your business in good standing, a registered agent plays a major role. They are a reliable source who is a point to contact between LLC members and the Wyoming secretary of state.
All businesses must maintain a registered agent. If you are the registered agent of your company and wish to resign, you can. A business can change its registered agent if they face some issues. You have to fill out a form of Statement of Resignation or Statement of resignation with Successor Appointed and pay a $5 filing fee. You can even update your name and information by filling out a form of Registered Agent Information Update.
Can I Be My Registered Agent in Wyoming?
To fill out the form of Wyoming registered agent, you can appoint yourself or your friends and family. A person has to necessarily meet some requirements to be a registered agent in the state. An individual has to be above the age of 18 years and must have a residential address. There are some setbacks as well if you choose yourself as a registered agent for your business.
Risks of being your Registered Agent
- You have to make yourself available to receive every legal documents
- Should be available during business hours to represent your business
- You will not be able to expand your business out of Wyoming
What is Expected From An Agent?
The registered agent is an individual and a resident of the state. In order to appoint a Wyoming registered agent, you certainly expect them to fulfil the tasks assigned. Simultaneously, they should be able to focus on various carry-ons and points like
- Maintain the reputation of business
- Legally available to represent the business
- To keep the information about the companies they represent
- Be a communication contact between LLC/corporation members and the secretary of state
- Should have information about the key individuals and representatives associated with the company
- To notify about the legal documents, every time they receive one
- Keep the details of a person qualified to receive communications from a Wyoming registered agent
Who Can Be My Wyoming Registered agent?
A registered agent can be any individual you trust. The business can appoint a trustworthy candidate who represents the business. It could either be your family member or a friend. The registered agent necessarily should meet all the requirements of the position.
What Are The Rules To Appoint Wyoming Registered Agent?
Particularly to appoint a potential candidate, you have to follow some rules. When appointing a Wyoming registered agent you have to keep in mind:
- The person has a residential street address
- That they are available during business hours
- Represent the LLC/corporation formation documents of the state business
- Must work at a physical address and not a PO box
- Able to make the entity and address available in the state records
How To Appoint A Registered Agent in Wyoming?
To appoint a registered agent in Wyoming you have to check out the roster of Wyoming registered agents. The list will help you ping points about existing registered agents. A form of articles of organisation has to be filled out to register an agent. A business has to register its registered agent with the secretary of state either online or offline. Following are the details of both the modes.
- Register Online: You can visit the Wyoming SOS website to register an LLC/corporation by filing the fee of $100 + $2 to file online.
- Register by Mail: You can mail the certificate of formation by downloading it. You will have to pay a filing fee of $100 to the Wyoming secretary of state. It will take 3/5 business days for the turnaround of the certificate.
Is Registered Agent Consent Require?
Overall, an appointed registered agent has to fill out a form compulsorily in order to secure their job. A form of Consent of Appointment with the signature of the appointed candidate. Generally, they have to give legal security that they will not choose to leave your firm. Ensure that the candidate is flexible to work with the firm.
The written form of the consent form is indeed a part of the records with the signature of the candidate. However, a registered agent in rare cases leaves the company but they certainly have to provide the form.
How to Get Free Registered Agent?
Many LLCs provide free registered agents. You only have to register your firm with the services and your business gets reliability and cost-effectiveness. However, you have to compulsorily follow some steps. Firstly, employ a third party. Secondly, allow them to access the articles of organisation. Therefore, they will be responsible for all the legal documents. Hence, due to the responsibility, they will have to appoint a registered agent.
The company costs only $100 for Wyoming LLC/corporation formation with small additional service fees. This service will help you sweep all formation work in the lowest budget possible. Additionally, the services provide an online dashboard for businesses to keep an eye on the work going.
Frequently Asked Questions
1. Can a company owner be its own Wyoming registered agent?
Yes, you have to be above 18 years of age and a resident of the state to be a registered agent.
2. What is a registered agent?
A business entity that represents the business legally in the state.
3. How much does a registered agent cost in Wyoming?
A registered agent costs between $50 in Wyoming.
4. How much does it cost to register a registered agent by mail?
If you register a registered agent by mail the filing fee is $100.
Make A Thorough Choice
Choose your registered agent wisely. Appoint the one with greater capacity to maintain your business. A registered agent can be a one-time investment if chosen correctly. They will help you solve the legal queries and maintain the LLC reputation. The secretary of state will picture your business entity as a genuine part of the state.