Frequently asked questions

Yes. No nationality, residency or visa is required to form or own a New Mexico LLC. You need a valid identity document, an address and a registered agent in the state — that last requirement is handled by Speed LLC.

Delaware is designed for companies raising outside investment: it imposes a franchise tax and high annual fees. New Mexico requires no annual report and no state tax on revenue. For a single-person, self-funded business, it is considerably cheaper to maintain.

The New Mexico Secretary of State processes online filings within one to three business days. The IRS takes three to six weeks to issue an EIN to a non-resident. Speed LLC shows you where your file stands at every moment.

You can file the articles yourself for $50. But you must then appoint a registered agent (paid), draft a compliant operating agreement, obtain an EIN and track your deadlines — including a federal return carrying a $25,000 penalty. Speed LLC automates the documentation and the monitoring.

It is a person or company with a physical address in New Mexico, authorised to receive legal process and official mail on behalf of your LLC. It is a legal requirement, and the address must be a physical location: a PO box is not sufficient.

A single-member LLC owned by a non-resident is by default a disregarded entity for US tax purposes: it pays no federal income tax, but it must file an information return (Form 5472 together with Form 1120). You remain taxable in your country of residence, where you report the LLC's income. Speed LLC provides a guide per country but does not replace individual tax advice.

It is the annual information return required for a single-member LLC owned by a non-resident. It is due by 15 April of the year following the tax year. Failure to file carries a flat penalty of $25,000. Speed LLC calculates the deadline, warns you in advance and prepares the form under the Autopilot plan.

Yes. Mercury, Relay and several other institutions accept non-resident-owned LLCs and open accounts entirely online. They generally ask for the Articles of Organization, the Operating Agreement, your EIN and your passport — exactly the documents Speed LLC produces.

The EIN is issued by the IRS using Form SS-4. A non-resident without a Social Security number cannot apply online: the application is made by fax or post, which takes three to six weeks. Speed LLC prepares the pre-filled SS-4 and its cover letter, ready to send.

The Articles of Organization filed in New Mexico list the registered agent's name and address, not the members'. Your home address is therefore not exposed on the public register, provided you do not appoint yourself as agent.

Yes, by filing an amendment with the Secretary of State. It costs a fee and must be documented, notably with your bank and your clients. It is therefore best to check name availability thoroughly from the outset.

An LLC that stops trading without being formally dissolved continues to exist and remains subject to its filing obligations, including Form 5472 and its potential penalty. Closing requires filing articles of dissolution and closing the bank account.