It’s not easy to start a business in here Mexico. Starting a business in Mexico requires a lot of paperwork. I used to have a gift shop here in Mexico, and I was lucky because at the time I started my gift shop, I had a Mexican friend who was perfectly bilingual. My friend made it easy for me to take care of the paperwork, but it still took us quite a while to get all the paperwork ready.
In starting a business in Mexico, you need to have...
It’s not easy to start a business in here Mexico. Starting a business in Mexico requires a lot of paperwork. I used to have a gift shop here in Mexico, and I was lucky because at the time I started my gift shop, I had a Mexican friend who was perfectly bilingual. My friend made it easy for me to take care of the paperwork, but it still took us quite a while to get all the paperwork ready.
In starting a business in Mexico, you need to have guidelines to let you know the right things to do because it’s not an easy process.
The process I went through in starting my own business in Mexico involved filing my income taxes, getting a business license, and going into different offices. No two processes were done in a single office. For example, the income tax is filed in this office where you have to wait for about 30 minutes before you are entertained. You then need to go from that office to another one to do something else. If you have nobody to guide you, getting your paperwork ready is a pretty difficult and lengthy process.
When I put up my gift shop here in Mexico, it cost me a lot of money to buy the furniture and everything else the store needed. Other than that, the process was pretty cheap, though. The legal fee is paid and then the license is released. I had my gift shop a couple of years ago, but I remember that getting everything ready for your business can take a few days to complete. It can be confusing, especially if you don’t know which offices you need to go to in order to get a permit.
(Jet Metier of Best Places in the World to Retire in a gift shop in Puebla, Mexico, pictured.)
When I move to Panama, should I keep a US bank account or open a bank account in Panama or both?
Roy Cannon - Gestoria Cocle - main office in Penoneme
It is recommended that you keep a US bank account and use your ATM card while getting established in Panama. Opening a local bank account is not as easy as you might expect.
Credit cards issued in Panama have a lot of extra charges that are not customary in the US (life insurance, fraud insurance, annual fees to mention a few).
Many US credit cards do have a "catch" however, they apply a "foreign transaction fee" for purchases in US Dollars when made outside of the USA....
It is recommended that you keep a US bank account and use your ATM card while getting established in Panama. Opening a local bank account is not as easy as you might expect.
Credit cards issued in Panama have a lot of extra charges that are not customary in the US (life insurance, fraud insurance, annual fees to mention a few).
Many US credit cards do have a "catch" however, they apply a "foreign transaction fee" for purchases in US Dollars when made outside of the USA. There are some exceptions, so check before you leave and you might want to pick up one of "no foreign transaction fee" cards.
If you plan to open a local bank account, check on the requirements before you leave the US, you will need a bank reference letter from your US bank, as a minimum, and possibly additional documentation.
In general, how does the Foreign Account Tax Compliance Act (FATCA) affect me if I move overseas?
Mike Cobb - ECI Development
FATCA (or the HIRE Act) requires US citizens to file a new form on their tax returns called the 8938. It is a disclosure form of all foreign financial assets, and includes everything but property held in your own name and gold held in your own name. All other financial assets, trusts, companies, LLC's, stocks, partnerships, etc., must be disclosed on this form.
FATCA (or the HIRE Act) requires US citizens to file a new form on their tax returns called the 8938. It is a disclosure form of all foreign financial assets, and includes everything but property held in your own name and gold held in your own name. All other financial assets, trusts, companies, LLC's, stocks, partnerships, etc., must be disclosed on this form.
Are there poisonous reptiles, snakes and insects, and dangerous animals in Belize?
Macarena Rose - Rainforerst Realty
I came from Florida where there is the highly venomous coral snake. I was concerned about moving here with to Belize with ten animals (five cats and five dogs) that my animals were going to be in danger from venomous or big animals.
There is a snake here in Belize called fer-de-lance, but it is very uncommon to see them. Case in point, I have been in the jungles and in corn fields up to my shoulders, and I have yet to ever see a...
I came from Florida where there is the highly venomous coral snake. I was concerned about moving here with to Belize with ten animals (five cats and five dogs) that my animals were going to be in danger from venomous or big animals.
There is a snake here in Belize called fer-de-lance, but it is very uncommon to see them. Case in point, I have been in the jungles and in corn fields up to my shoulders, and I have yet to ever see a fer-de-lance. Thank God. I haven’t seen any snakes here other than the ones in the Belize Zoo.
As far as animals out in the wild, if you are out in the jungles, chances are you are going to be with someone who has a machete, or someone who will be prepared for something that might cross your path.
I have not ran into any wild pigs (pictured) or anything like that. There are monkeys in the trees and they are lovely, but they are not going to do anything to you. The birds are just gorgeous to see. So, no, you are not going run into a dangerous animal here in Belize.
To open a bank account in Portugal, the first thing that you have to do is get a Portuguese fiscal tax number as an individual. A US citizen would apply for a tax number directly from the tax office or they could appoint a tax representative, which is a service that we offer whereby we are nominated as the tax representative for a non-resident. If this is set up, all tax correspondence are sent between the tax office and the tax representative.
Some of the...
To open a bank account in Portugal, the first thing that you have to do is get a Portuguese fiscal tax number as an individual. A US citizen would apply for a tax number directly from the tax office or they could appoint a tax representative, which is a service that we offer whereby we are nominated as the tax representative for a non-resident. If this is set up, all tax correspondence are sent between the tax office and the tax representative.
Some of the foreign banks are less demanding than the Portuguese banks. There are a lot of foreign banks here; especially Spanish banks. They seem to make life a lot easier when you are opening a bank account here in Portugal.
I do not know if Americans would have an issues related to FATCA when they open a bank account here in Portugal. FATCA has forced the EU to come up with a similar thing called “Common Reporting Standard” so that in 2017, most financial institutions will be communicating to the tax authorities on the accounts held by their depositors.
My new Mayan friend had a beautific smile. Most likely in her 50s, I met her as she and her family were making and selling sandwiches from the very small porch in front of her home with the half wall she used as a built-in shelf. On the street was a solitary plastic table covered by a plastic tablecloth, with two plastic chairs.
The street of my friend’s house was perpendicular to the main street bordering the hacienda in which we had rented a place to stay. ...
There is nothing better than new surroundings to get your mind off of old problems that have been holding you back and bringing you down . A different perspective appears when everything is new and different, especially if it is vividly green and tropical and warm. Being totally surrounded by new people and places may be a bit uncomfortable at first but if it is full of friendly Latin Americans and warm beautiful weather in a tranquil and incredibly beautiful place, it can be easy to let...
This and the follow-up are untypical but may interest some who would not consider moving to the 'other side of the World'.
NEW ZEALAND
I'd worked for the UK defense department for 15 years and soon after disillusionment set in badly there appeared a recruitment team from Aotearoa (New Zealand). Lo and behold, they picked me for free emigration, family, lock stock and barrel! Now, I had never flown, nor even left the UK so there was much...