doola Alternative for a Foreign-Owned New Mexico LLC

Short answer: doola costs less in year one, and our package costs less to understand. doola Starter is a yearly plan with no published renewal price, and it sits inside a bigger menu of tax and bookkeeping services. Our Non-US Founder Package is a single $399 purchase for a foreign-owned New Mexico LLC, with New Mexico's $50 fee on top and a $99 registered agent as the only repeat charge. This comparison comes from the company selling the second option.

At a glance

doola's figures: pricing page and FAQ, September 29, 2026.

What doola does well

• Scale. More than 22,000 companies formed, per doola, for owners in over 175 countries.
• Everything under one roof. Pulse bookkeeping ($300 a year), Tax and Compliance for returns, and Business-in-a-Box with a dedicated bookkeeper.
• Entity choice. C-corps as well as LLCs.
• A formation guarantee. doola promises a refund if the filing goes wrong.
• Banking referral. doola sends customers to Mercury, which asks applicants for a passport.

The math for a New Mexico LLC

• doola, first year: $237 or $297 for Starter, plus $50 to the state, so $287 to $347.
• Our package, first year: $399 plus $50, so $449.
• Gap in year one: $102 to $162 in doola's favor.
• From year two: doola hasn't published a Starter renewal; ours is $99 for the agent.
• New Mexico annual report: none, for either. The state doesn't require one from LLCs.

How our package works

1. You fill in one order form with your company and owner details.
2. Our team submits your Articles of Organization through the state's online portal.
3. The state issues your certificate, and we post it to your dashboard.
4. You e-sign the Form SS-4 we've prepared under the IRS rules for owners with no SSN.
5. At that moment your bank application for our partners is ready, pre-filled and with your certificate attached. With your approval it's submitted, no IRS wait involved. Our partners decide whether to open an account, so we can't guarantee one.
6. We fax the SS-4. Your EIN normally arrives two to eight weeks after that, and there's no way to speed it up.

Choose doola if

• You'd like your formation provider to prepare your returns as well.
• A bookkeeping service is on your list.
• Your company will be a C-corp.
• Year-one savings outweigh not knowing the renewal price.

Choose our package if

• You want to know what you'll pay each year before you buy.
• You'd rather have the bank application prepared than be referred.
• New Mexico, with no annual report, is the state you want.

After formation in New Mexico

The Secretary of State asks only that your LLC keep an agent and a registered office in place; no annual or biennial report exists for LLCs. Tax is a separate conversation. Many single-member LLCs with a foreign owner owe the IRS Form 5472 annually, with a pro forma 1120 attached. Gross receipts tax is a state question that turns on your business. We don't prepare either.

Form your foreign-owned New Mexico LLC

See everything in our Non-US Founder Package

Common questions

Is doola cheaper than you for a New Mexico LLC?

For the first year, yes. doola Starter at $237 (promotional) or $297 (list), plus the $50 state fee, lands between $287 and $347. Ours is $449 with the same fee.

What does doola Starter cost after the first year?

doola hasn't published it. Its pricing page says plans are billed annually but gives no separate Starter renewal figure. Our only renewal is the $99 registered agent.

Can doola set up a New Mexico company?

The pricing page doesn't say which states doola serves. Its blog mentions any state while favoring Wyoming and Delaware, so ask doola directly about New Mexico.

Where would a foreign owner get Form 5472 done?

doola sells Tax and Compliance for federal and state returns ($1,599 promo, $1,999 list, per year), though Form 5472 isn't named on the plan. We don't prepare returns, so you'd use a tax professional.

What happens with the bank application after I order from you?

We build it from your order and add your New Mexico certificate. When you sign your SS-4, it's ready; you approve it and we submit it, with the EIN arriving later. The decision belongs to our partners.