Can I form an LLC in New Mexico if I live in Costa Rica and have never visited the US?

For a founder in Costa Rica, yes. US LLC formation does not require US residency, a US visit or a Social Security Number. Founders based in Costa Rica form New Mexico LLCs remotely using a registered agent for the required US address, and they apply for an EIN with "Foreign" or "N/A" in place of an SSN.

Can a Costa Rican resident open a Mercury or Relay account?

Yes in principle. Costa Rica is not on Mercury's prohibited list (residence-based) or on Relay's list (owners' citizenship or residency), subject to each bank's own review.

How long does a New Mexico LLC take from Costa Rica?

For a founder in Costa Rica, state approval in New Mexico typically takes a few business days to about two weeks depending on filing volume, and the EIN can often be obtained the same week by phone. Most founders have the LLC, the EIN and a bank application in 2-4 weeks.

What ongoing filings does a Costa Rican founder need for a New Mexico LLC?

For a founder in Costa Rica, only the federal one: Form 5472 with a pro forma Form 1120, due every year for a foreign-owned single-member LLC, with a $25,000 minimum penalty if missed. New Mexico has no annual report or fee to add.

What time can I phone the IRS from Costa Rica?

The IRS international line is open 6 a.m. to 11 p.m. Eastern. Costa Rica stays on UTC-6 all year, so the window is 5 a.m. to 10 p.m. in US standard time and 4 a.m. to 9 p.m. in US daylight time.

Form a New Mexico LLC from Costa Rica: Complete 2026 Guide

Q: Does Costa Rica tax income earned through a US LLC?

Costa Rica taxes income from Costa Rican sources, defined by PwC as income derived from assets used, goods located or services rendered within Costa Rican territory. Whether your LLC's income counts depends on where the work is done, so ask a Costa Rican accountant.

Everything a Costa Rica-based founder needs to form, bank, and run a New Mexico LLC — costs, EIN process, and tax angles specific to Costa Rica.

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$50 · State filing fee

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Quick Summary

Country: Costa Rica
State: New Mexico
Avg. filing time: 3-7 business days
State filing fee: $50
Annual report fee: None - New Mexico requires no annual report and no franchise tax of any kind for a standard LLC (the only US state offering true zero ongoing state-level filing)

Why New Mexico

Why do Costa Rican founders look at New Mexico? Mostly because the state-level side is predictable. The filing fee is $50 ($50 online), the ongoing requirement is $0 ever — New Mexico is one of the only states with no ongoing annual report or annual fee for LLCs, and the state applies no tax on LLC income earned outside the state for non-resident owners. New Mexico does not publicly disclose member or manager names in its formation records. Keep in mind that the state says nothing about how Costa Rica taxes you; that depends on Costa Rica law and is covered further down this page. What New Mexico offers is the least ongoing paperwork of any of the five states.

For Costa Rican Founders

Costa Rican freelancers, developers, consultants and online sellers form US LLCs to invoice international clients in dollars, hold a US business bank account and present a domestic US vendor to American customers. Costa Rica taxes income from Costa Rican sources, so the questions for an owner concern where the work is done and where the income arises, together with the American filings. The colon is converted to dollars when you fund the account, so compare rates at your bank.

After Formation Checklist

Three things to do straight after formation. First, the paperwork: an Operating Agreement, and a note of the EIN letter's location (if it is lost, ask the IRS for Form 147C). Second, the money side: bank account, then Stripe or PayPal subject to their review. Third, the calendar: there is no New Mexico annual filing to calendar and the federal Form 5472 and pro forma 1120. Federal Beneficial Ownership Information reporting is not something you need to do: FinCEN's rule in force since August 14, 2026 permanently exempts all US-formed LLCs.

Is New Mexico Right For You

The case for New Mexico: minimizing ongoing paperwork is the top priority — no annual report, ever, is unique among these five states — and strict privacy matters more to you than name recognition. The case against is simply that another state may suit your priorities better, and changing states after formation means closing the LLC and starting a new one.

Calling The IRS From Costa Rica

The IRS international EIN line (267-941-1099) answers from 6 a.m. to 11 p.m. Eastern. Costa Rica stays on UTC-6 all year, so the window runs from 5 a.m. to 10 p.m. Costa Rican time in US standard time and from 4 a.m. to 9 p.m. in US daylight time. Any daytime call is comfortable. Plan on 45-60 minutes.

Forming In New Mexico Step By Step

For a Costa Rica-based owner the order of operations is: registered agent first (you need their New Mexico address for the filing), then the Articles of Organization, then the EIN, then the bank account. The EIN application is Form SS-4; leave the SSN field as "Foreign" or "N/A". Calling the IRS international line (267-941-1099) is the fast route at about 45-60 minutes; faxing or mailing the form takes 4-6 weeks. Once you hold the EIN letter, bank and payment applications can begin.

Costa Rican Source Rules And Your LLC

PwC's Costa Rica summary says income tax applies to local income whatever the taxpayer's nationality or residency, and defines Costa Rican-source income as income derived from assets used, goods located or services rendered within Costa Rican territory. That definition looks at where a service is rendered, so a founder who does the work while living in Costa Rica should ask an accountant whether the income is Costa Rican-source even when the clients are abroad. In 2023 Congress approved an amendment to clarify the treatment of passive foreign-source income, and the President partially vetoed it the same month, so check the current position. The American side is fixed: Form 5472 with a pro forma Form 1120 each year, with a $25,000 minimum penalty.

New Mexico LLC For Costa Rican Founders

New Mexico suits a Costa Rican founder who wants the lightest US paperwork: a $50 filing fee, no annual state report and no annual fee, leaving only the federal Form 5472 and pro forma 1120.

The 2026 Self Employed Income Tax Bands

If income is Costa Rican-source and you are self-employed, PwC lists 2026 bands in colones of 0 percent up to 4,094,000, 10 percent up to 6,115,000, 15 percent up to 10,200,000, 20 percent up to 20,442,000 and 25 percent above. These matter only if your LLC income is treated as Costa Rican-source, so test the source question before you plan around the rates.

Five Year State Cost Of A New Mexico LLC

Over five years, the state-level cost of a New Mexico LLC is a $50 filing fee and nothing recurring, so $50 in total, before the registered agent. That makes New Mexico the cheapest of the five states on this measure. The same arithmetic across the five states runs from $50 to $2,110. For a Costa Rican owner, the key question is whether the LLC's income counts as Costa Rican-source, so plan for a written view from a Costa Rican accountant before you form.

What A New Mexico LLC Costs From Costa Rica

Budgeting for a New Mexico LLC from Costa Rica? The one-time state fee is $50 ($50 online). Every LLC then needs a registered agent (typically $100-150 a year); the EIN itself costs nothing when you apply to the IRS directly; and Mercury or Relay accounts are usually free. The yearly state-side item is $0 ever — New Mexico is one of the only states with no ongoing annual report or annual fee for LLCs. Bundled, EasyBrise Global Launch costs $295 for year one with a registered agent included and $149 a year to renew.

Your Recurring Dates As A Costa Rican Owner

As a Costa Rican owner, your recurring dates look like this. State: New Mexico adds no state annual filing at all. Federal: Form 5472 with the pro forma Form 1120 is due on the return due date, April 15 for a calendar-year LLC, extendable with Form 7004. For the one-off EIN call, the IRS line (6 a.m. to 11 p.m. Eastern) is open 5 a.m. to 10 p.m. Costa Rican time in US standard time (4 a.m. to 9 p.m. in US daylight time). Put the state date and the federal date in your calendar when the EIN arrives, because a missed Form 5472 carries a $25,000 minimum penalty.

No Income Tax Treaty Between Costa Rica And The United States

Costa Rica does not appear on the lists of US income tax treaty partners we checked. In this case the gap matters little for foreign-source business income, because there is usually no second tax for a treaty to relieve. The rules that decide your outcome are the US rules for the LLC and for any US-source income.

Requirements

Requirement	Needed
US Social Security Number
US visit required
Registered agent with US address
New Mexico annual filing
Federal Form 5472 + pro forma 1120

Costs

Item	Cost
State filing fee	$50 (mail) / $50 (online)
Registered agent (annual)	$100-150/yr (or included in EasyBrise Global Launch)
EIN application	Free via IRS (or via a paid service)
US business bank account	Free (Mercury / Relay)
EasyBrise Global Launch (year 1, incl. registered agent)	$295
EasyBrise renewal (year 2+)	$149/yr

Who Should Choose New Mexico

Choose New Mexico if

minimizing ongoing paperwork is the top priority — no annual report, ever, is unique among these five states — and strict privacy matters more to you than name recognition

Consider another state if

your priorities (fundraising plans, revenue level, or reporting tolerance) point more strongly to one of the other four states in the comparison table above.

Comparison

State	Filing Fee	Annual Requirement	State Income Tax	Privacy
Wyoming	$100 mail / $102 online	$60	None	No public member names
Delaware	$110	$400 flat annual franchise tax	None	No public member names
Texas	$300	$0 franchise tax for LLCs with revenue below the no-tax-due threshold	None	No public member names
New Mexico	$50	$0 ever	None	No public member names
Florida	$125	$138.75 mandatory annual report fee, due every year	None	Member names public

Banking

Mercury
Popular with non-resident founders; requires US LLC + EIN; no US visit needed
Relay
Remote-friendly for non-residents; requires formed US entity

Frequently Asked Questions

More guides for founders in Costa Rica

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