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

Living in South Korea does not change this: yes, entirely remotely. New Mexico does not ask for residency or a trip to the US, and no SSN is required. A registered agent provides the New Mexico address, and the EIN application uses "Foreign" or "N/A" where an SSN would go.

Will the threshold fall to 15 percent?

A 2026 tax reform proposal would lower it from 17.5 percent to 15 percent, with most changes effective from January 2027 if approved. Check the bill's status, and note that a zero-tax LLC would still fall below the lower figure.

How long does a New Mexico LLC take from South Korea?

Living in South Korea does not change this: expect a few business days to roughly two weeks for New Mexico to approve the filing, depending on volume. The EIN by phone is usually same-week, so formation, EIN and a submitted bank application commonly take 2-4 weeks in total.

Can a South Korean resident open a Mercury or Relay account?

Yes in principle. South Korea 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.

What time can I phone the IRS from South Korea?

The IRS international line is open 6 a.m. to 11 p.m. Eastern. South Korea stays on UTC+9 all year, so the window is 8 p.m. to 1 p.m. in US standard time and 7 p.m. to noon in US daylight time.

What ongoing filings does a South Korean founder need for a New Mexico LLC?

Living in South Korea does not change this: the federal Form 5472 and pro forma Form 1120 are due every year ($25,000 minimum penalty if missed). On the state side, New Mexico requires nothing recurring: no annual report and no annual fee, ever.

Form a New Mexico LLC from South Korea: Complete 2026 Guide

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

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$50 · State filing fee

None - New Mexico requires no an… · Annual fee

3-7 business days · Avg. filing time

Wire/ACH via Mercury or Relay · Transfer method

Quick Summary

Country: South Korea
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)
Transfer method: Wire/ACH via Mercury or Relay (not on either prohibited-countries list)

What It Costs

The cost side of a New Mexico LLC: $50 state fee ($50 online), a registered agent at typically $100-150 per year, a free IRS EIN, and a bank account that is usually free. Annual state requirement in New Mexico: $0 ever — New Mexico is one of the only states with no ongoing annual report or annual fee for LLCs. If you use EasyBrise, Global Launch is $295 for year one (registered agent included) and $149 per year after, and for a founder in South Korea the whole first year typically comes in well under $500.

Why New Mexico

New Mexico in one paragraph: $50 to file ($50 online), then $0 ever — New Mexico is one of the only states with no ongoing annual report or annual fee for LLCs each year. The state imposes 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. For a South Korea-based owner the state choice mainly decides cost, privacy and paperwork, not your home-country tax result. If the least ongoing paperwork of any of the five states is what you are optimizing for, New Mexico deserves a close look.

Who This State Is For

New Mexico fits 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. Check the comparison table above before you commit, as switching later is not a simple amendment: the New Mexico LLC would be dissolved and a new one formed elsewhere.

Post Formation Checklist

Your New Mexico LLC exists once the state accepts the filing, but it is only ready to trade after these steps: sign the Operating Agreement; get the bank account open; apply for payment processors; calendar there is no New Mexico annual filing to calendar and the federal Form 5472 and pro forma 1120. On BOI: FinCEN's rule in force since August 14, 2026 permanently exempts all US-formed LLCs, so there is nothing to file there.

For South Korean Founders

South Korean 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. A founder in Korea funds the LLC from won converted to dollars. Korea's controlled-foreign-company rules start at a low ownership level and look at the effective tax the entity pays, so the Korean tax analysis is the main task.

How The Formation Process Works

Here is how New Mexico formation works for someone in South Korea. File the Articles of Organization with the New Mexico Secretary of State, using a registered agent's physical New Mexico address. Request your EIN from the IRS, writing "Foreign" or "N/A" in place of an SSN (phone: 267-941-1099, about 45-60 minutes; fax or mail: 4-6 weeks). Then apply for Mercury or Relay online. Every step can be done remotely.

Calling The IRS From South Korea

The IRS international EIN line (267-941-1099) answers from 6 a.m. to 11 p.m. Eastern. South Korea stays on UTC+9 all year, so the window runs from 8 p.m. to 1 p.m. Korean time in US standard time and from 7 p.m. to noon in US daylight time. Call from your evening or early morning and plan on 45-60 minutes.

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 South Korean owner, the low threshold of the controlled-foreign-company rules is the central issue, so budget for a Korean tax adviser's written view alongside the US costs.

New Mexico LLC For South Korean Founders

New Mexico suits a South Korean 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.

Your Recurring Dates As A South Korean Owner

As a South Korean 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 8 p.m. to 1 p.m. Korean time in US standard time (7 p.m. to noon 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.

A Proposal To Lower The Threshold To 15 Percent

PwC's August 2026 news flash on Korea's tax reform proposals says the low-tax threshold would fall from 17.5 percent to 15 percent to align with the global minimum tax rate, with most changes taking effect from January 2027 if the National Assembly approves. Even a lower threshold leaves a zero-tax LLC inside the test, so the proposal does not remove the question. Check the status of the bill with a Korean adviser.

The United States South Korea Income Tax Treaty

The United States and South Korea have an income tax treaty in force. It covers dividends, interest, royalties and tie-breaker rules for residency, and you can confirm the details in the IRS treaty tables. For a typical founder whose LLC earns only non-US-source income, the treaty changes little in practice because there is usually no US federal income tax for it to reduce.

South Korean Controlled Foreign Company Rules And Your LLC

PwC's Korea summary says a Korean national or company that directly or indirectly holds at least 10 percent of a foreign corporation is covered, so an individual is within the wording, although the page does not define national or address residency. The test is whether the foreign corporation's average effective income tax rate over the three most recent consecutive years is 17.5 percent or less, which is 70 percent of the 25 percent top corporate rate for tax years beginning on or after 1 January 2026. If it applies, undistributed earnings are deemed paid as a dividend to the Korean shareholder. A single-member LLC that bears little or no US federal tax sits on the wrong side of that test, so a Korean adviser must model it.

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

Taxes

Comprehensive US-Korea tax treaty in force; Sept 2025 Supreme Court ruling changed treaty sourcing rules for certain royalty payments

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 South Korea

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