How long does it take to form a Wyoming LLC?

Standard processing takes 3-5 business days. Expedited filing is available for 24-hour processing.

Do I need a US address to form an LLC?

No, you can use a registered agent service that provides a Wyoming address. This is included in most formation packages.

Can I open a US bank account without visiting?

Yes, many non-residents open online business bank accounts with Mercury, Relay, or Wise without visiting the US.

What are the annual fees for a Wyoming LLC?

Wyoming requires a $60-100 annual report fee and approximately $25-50 for registered agent service.

Is Wyoming LLC good for non-residents?

Yes, Wyoming offers the best combination of privacy, asset protection, low fees, and no state tax for non-resident LLC owners.

Mercury vs Axos for Wyoming LLC | Non-Residents 2025

Choosing between Mercury and Axos Bank is a critical decision for your Wyoming LLC. As a non-US resident, you need a bank that understands international founders and offers the features your business requires. Mercury is a modern digital banking solution that Tech startups, SaaS companies, and businesses needing API access. Axos Bank, on the other hand, Businesses wanting online-only banking with interest earnings. Both banks serve Wyoming LLCs, but their approaches and requirements differ significantly. Before opening an account, ensure you have completed your EIN for non-residents and obtained an Stripe account.

Mercury vs Axos Bank: Feature Comparison

Feature	Mercury	Axos Bank
Monthly Fee	$0	$0
Minimum Deposit	$0	$1,000
ATM Access	55,000+ Allpoint ATMs	Unlimited ATM reimbursements
Approval Time	1-3 business days	2-3 business days
Best For	Tech startups, SaaS companies, and businesses needing API access	Businesses wanting online-only banking with interest earnings
Virtual Cards	Yes	No
API Access	Yes	No
International Transfers	Yes	Limited

*Fees and features subject to change. Verify current terms on each bank's website before applying.

Requirements for Non-Residents

Both banks require specific documentation for non-resident Wyoming LLC owners. Having these prepared will speed up your application:

✓US LLC Formation: Your Wyoming LLC must be fully formed with tax obligations completed.
✓EIN (Employer Identification Number): Required for all US business bank accounts. We can help you obtain an EIN as a non-resident.
✓Valid Passport: International passport for identity verification.
✓US Business Address: A legitimate US address for your LLC.
✓Operating Agreement: Your LLC's operating agreement showing ownership structure.
✓Business Description: Clear explanation of your business activities.

How to Apply for Either Account

Form Your Wyoming LLC

First, form your Wyoming LLC with a registered agent service.

Obtain Your EIN

Apply for an EIN without an SSN.

Gather Documentation

Collect your passport, LLC formation documents, operating agreement, EIN confirmation, and proof of address.

Complete Online Application

Visit the bank's website and complete their online application. Upload all required documents clearly.

Verification and Approval

Wait for verification. Mercury typically takes 1-3 business days, while Axos Bank takes 2-3 business days.

Fund Your Account

Once approved, fund your account with the minimum deposit and start banking.

Pros and Cons Comparison

Mercury Pros

No monthly fees
Generous transaction limits
Great API for developers
Virtual and physical debit cards
Treasury account earning interest

Mercury Cons

Requires US LLC and EIN
Can be strict with approvals
No physical branches
No joint accounts
Limited check deposits

Axos Bank Pros

No monthly fees
Interest on checking
Unlimited ATM fee rebates
Cash back options
Higher interest savings

Axos Bank Cons

High minimum opening deposit
No physical branches
Limited cash handling
Strict underwriting
Minimum balance for interest

Our Recommendation for Non-Residents

Choose the bank that aligns with your business needs

For most non-resident Wyoming LLC owners, we recommend Mercury as the primary choice because digital banks are more accommodating to international founders without US residency. Mercury offers Tech startups, SaaS companies, and businesses needing API access.

Consider your banking requirements, transaction volumes, and whether you need payment processing integrations.

Frequently Asked Questions

Which is better for non-residents: Mercury or Axos Bank?

For non-residents with a Wyoming LLC, Mercury is generally more accessible while Axos Bank offers Business Interest Checking and Remote Deposit. Both require an EIN and US LLC.

Can I open Mercury or Axos Bank without an SSN?

Yes, both Mercury and Axos Bank accept applications from non-residents with an ITIN or just passport + EIN for most digital banks. Traditional banks may require an SSN.

What are the fees for Mercury vs Axos Bank?

Mercury charges $0 monthly with $0 minimum deposit. Axos Bank charges $0 with $1,000 minimum.

How long does approval take for each?

Mercury typically takes 1-3 business days, while Axos Bank takes 2-3 business days. Digital banks are generally faster than traditional banks.

Mercury vs Axos for Wyoming LLC