Strategy

Wyoming vs Delaware vs Florida LLC for foreign-owned rental - which one wins?

PaulVeloria · May 3, 2026 · 309 views

Closing on my first US rental property as a foreign national (I am based in Sao Paulo). My cross-border CPA is pushing Wyoming for privacy. The lender said they prefer Delaware. The property itself is in Orlando so a local Florida LLC would simplify the franchise tax situation.

For those of you who closed under an LLC as a foreign national - what state did you form in and why? Any regrets in hindsight?

Replies

3 replies

Arin B. May 3, 2026

For a property in Florida, the cleanest structure is usually a Florida LLC - you avoid the foreign-LLC registration fee in Florida (around $138.75/year) plus the Wyoming/Delaware annual fees on top.

Wyoming wins on privacy if that matters to you. Delaware is overrated for single-property rentals - it shines for multi-state portfolios and operating businesses. Either way, all three states are lender-friendly for us.

Brandon J. May 3, 2026

I formed in Wyoming for my first rental (also Florida property) and regretted it - paying registration in two states adds up. My second one I formed Florida and it has been simpler.

Hector V. May 3, 2026

For foreign owners specifically the LLC state matters less than the upstream structure. If you are not running this through a foreign holding company or trust your US estate tax exposure is the same regardless of state. Worth talking through with a cross-border attorney before closing.

Wyoming vs Delaware vs Florida LLC for foreign-owned rental - which one wins?

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