For a founder outside the US, this is usually the first real decision — and it matters more than people think.
There's no single "best" state — it depends on what you're optimizing for: prestige, privacy, or price.
Delaware — prestige & investor credibility
The most recognized name, preferred by investors and VCs. Best if you're planning to raise capital or want maximum credibility with US partners.
Trade-off: Comes with higher ongoing costs (franchise tax, registered agent). Not the cheapest option.
When to choose: You're actively raising venture capital or building a company that will need major US partnerships.
Wyoming — solid all-around choice
Strong privacy laws, no state income tax, low annual fees. A solid middle ground between prestige and price.
Trade-off: Less "recognizable" than Delaware for VC investors, but still respected.
When to choose: You want privacy without sacrificing credibility, and you're cost-conscious but not cost-obsessed.
New Mexico — cheapest & most anonymous
The cheapest to form, and one of the only states with no annual report requirement at all. Best if cost and anonymity matter most.
Trade-off: Less recognizable; some investors may ask why you didn't choose Delaware.
When to choose: Cost is your primary concern, you don't expect to raise VC immediately, and you value complete privacy.
How we help
At Foundly US, we don't push you toward the most expensive option. We ask about your goals, timeline, and investment plans — then recommend the state that makes sense for you.
Then we handle the filing, get your EIN (even without an SSN), and deliver your full governance document set.