When you want to create a new business, you have options for where you want to register. Traditionally, the preferred states to register your business entity in America have been Delaware and Wyoming. What if there was an even better option available? What if the best state to form LLC wasn’t a state at all, but a territory? As of 2018, it’s not just an idea, but a reality: the best state to form LLC today is American Samoa.
Benefits of American Samoa’s unique location
One key reason American Samoa is the best state to form LLC today is because of its unique location in the world. American Samoa’s territorial capital of Pago Pago is around 2,500 miles away from Hawaii, and almost 5,000 miles away from the mainland United States. Your American Samoa LLC cannot be sued without the other party’s lawyer making a physical appearance in a courtroom in American Samoa. This virtually eliminates the possibility of dishonest lawyers or former clients filing frivolous lawsuits. Not even Wyoming or Delaware can offer that kind of protection.
Taxation in American Samoa
American Samoa is the only unincorporated territory of the United States; unlike incorporated territories like Puerto Rico, the federal government’s relationship with American Samoa is much looser. At the request of the local government, residents of American Samoa are considered U.S. nationals, but citizens of Samoa. This means that income earned in American Samoa is exempt from federal taxes. Indeed, American Samoa has its own independent tax authority which is modeled on, but separate from, the IRS. This protection of your business income from the prying claws of the Internal Revenue Service is yet another major benefit to making an LLC in American Samoa.
Safeguarding Your Business
In today’s interconnected world, with an ever-expanding list of apps and services with nebulous and arbitrary Terms of Service, it can be easy to forget that you still have a Constitutional right to privacy. When you register an LLC in American Samoa, the identities of your partners and you can remain anonymous to everyone except your Registered Agent, whose services you will be provided when you register your LLC. If you don’t want the world to know who is running your business, that’s your right. You don’t need a reason to keep this information private beyond your own personal wish to do so.
A Bright Future In American Samoa
When American Samoa Governor Lolo Matalasi signed the American Samoa Limited Liability Company Act into law in 2018, it was the first step toward transforming American Samoa into the best state to form LLC. It signaled American Samoa’s intention to compete with other business-friendly locations to become the new home of companies of the future. With the Internet now able to connect this remote archipelago to the rest of the world almost instantly, the time for making an LLC in American Samoa is now. The benefits are simply too good and too numerous to pass up.
You can register your LLC today for as low as $150 at llc.as.gov.