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.

Novo vs Chase Business Checking | Non-Residents 2025

Choosing between Novo and Chase 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. Novo is a modern digital banking solution that Freelancers, consultants, and small service businesses. Chase, on the other hand, Established businesses needing comprehensive banking services. Both banks serve Wyoming LLCs, but their approaches and requirements differ significantly. Before opening an account, ensure you have completed your Relay and obtained an best bank for your LLC.

Novo vs Chase: Feature Comparison

Feature	Novo	Chase
Monthly Fee	$0	$15 (waivable)
Minimum Deposit	$50 (recommended)	$0
ATM Access	ATM fee rebates up to $7/month	16,000+ ATMs nationwide
Approval Time	Instant to 1 business day	1-2 weeks
Best For	Freelancers, consultants, and small service businesses	Established businesses needing comprehensive banking services
Virtual Cards	No	No
API Access	No	No
International Transfers	Limited	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 Wise Business 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. Novo typically takes Instant to 1 business day, while Chase takes 1-2 weeks.

Fund Your Account

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

Pros and Cons Comparison

Novo Pros

No monthly fees
Unlimited invoicing
Integrates with popular tools
Mobile-first experience
Automatic savings reserves

Novo Cons

No interest on balances
No physical branches
Limited cash deposits
Basic reporting features
No dedicated business credit cards

Chase Pros

Extensive branch network
Wide range of business products
Established reputation
Excellent mobile app
Business relationship benefits

Chase Cons

Monthly fees unless waived
Difficult for non-residents
Requires SSN for online signup
Minimum balance requirements
Extensive documentation needed

Our Recommendation for Non-Residents

Choose the bank that aligns with your business needs

For most non-resident Wyoming LLC owners, we recommend Novo as the primary choice because digital banks are more accommodating to international founders without US residency. Novo offers Freelancers, consultants, and small service businesses.

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

Frequently Asked Questions

Which is better for non-residents: Novo or Chase?

For non-residents with a Wyoming LLC, Novo is generally more accessible while Chase offers Full Banking Suite and Business Credit Cards. Both require an EIN and US LLC.

Can I open Novo or Chase without an SSN?

Yes, both Novo and Chase 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 Novo vs Chase?

Novo charges $0 monthly with $50 (recommended) minimum deposit. Chase charges $15 (waivable) with $0 minimum.

How long does approval take for each?

Novo typically takes Instant to 1 business day, while Chase takes 1-2 weeks. Digital banks are generally faster than traditional banks.

Novo vs Chase Business Checking