Can I buy a business in Mexico?
Alfonso Galindo - I Go Yucatan
You can buy a business in Mexico either through direct ownership, through a corporation, LLC, and many other variations. To start a business in Mexico is easier than starting one in the US to some extent, although in some instances, it can be more time consuming in Mexico than in the US. It depends on the type of business that you’re choosing to start. Thee are no restrictions as a foreigner to buy a business.I don’t see any major difference between buying a...
You can buy a business in Mexico either through direct ownership, through a corporation, LLC, and many other variations. To start a business in Mexico is easier than starting one in the US to some extent, although in some instances, it can be more time consuming in Mexico than in the US. It depends on the type of business that you’re choosing to start. Thee are no restrictions as a foreigner to buy a business.I don’t see any major difference between buying a business in Mexico or the US. It’s very similar. If you’re a wise businessperson you would go through due diligence in both cases, come to a purchase agreement, and either purchase the rights or purchase the shares of the company. It’s very, very similar.
(U.S. Consul General in Merida, David Micó promoting economic links between the US and the Yucatan, pictured.)
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Posted September 30, 2015
Alberto Alvelais - Alvelais & Asociados
Yes, as a foreigner, you can buy a business in Mexico. You don’t even have to be a temporary resident and, in the extreme, there is no legal requirement that you even visit Mexico. Your company will, however, heed to have a legal representative in Mexico who is a legal resident of Mexico. (Beach bar, Playa del Carmen, Mexico, pictured.)
Yes, as a foreigner, you can buy a business in Mexico. You don’t even have to be a temporary resident and, in the extreme, there is no legal requirement that you even visit Mexico. Your company will, however, heed to have a legal representative in Mexico who is a legal resident of Mexico. (Beach bar, Playa del Carmen, Mexico, pictured.)
Posted May 15, 2016
David Schwendeman - Mexlend
Yes, you can absolutely buy a business in Mexico. The Mexican authorities would love it if you bought a business in Mexico. Their theory is that, by buying a business, you’re going to be hiring Mexican nationals and contributing to the Mexican economy In order to buy a business in Mexico, you need the proper visa. The visa you get as a retiree is not the same visa you get if you’re going to be working or opening a...
Yes, you can absolutely buy a business in Mexico. The Mexican authorities would love it if you bought a business in Mexico. Their theory is that, by buying a business, you’re going to be hiring Mexican nationals and contributing to the Mexican economy In order to buy a business in Mexico, you need the proper visa. The visa you get as a retiree is not the same visa you get if you’re going to be working or opening a business. If you’re going to open a business and you want the work visa, and you have to declare it during the application process. The authorities will look at your business plan, and assess whether it would be deemed viable or something that they want for Mexico. (The answer is usually yes unless it is something really peculiar or not allowed). I recommend using an attorney or immigration consultant for this process, though. It can be a little document heavy and proficiency in Spanish is helpful.
After that you have a period of time to actually open the business, establish your tax relationship with La Hacienda (the MX equivalent to the IRS) and begin to generate income. As long as you set yourself up correctly and follow the rules, which are a little different than in the US or Canada, you should be fine.
(Logo for Mexlend, David Schendemen's mortgage lending service, Puerto Vallarta, Mexico, pictured.)
Posted June 9, 2016
Karen Herrtwich - S&S Auto
As a foreigner, you can buy a business in Mexico. You should have a lawyer to facilitate the transaction When it comes to business ownership in Mexico, you have to have some sort of investment. When Spencer and I started this company, we had to have a large investment into this business in order to be able to maintain it as foreigners. We also had to get working papers and an authorization from immigration allowing us to work for our own company. That's something...
As a foreigner, you can buy a business in Mexico. You should have a lawyer to facilitate the transaction When it comes to business ownership in Mexico, you have to have some sort of investment. When Spencer and I started this company, we had to have a large investment into this business in order to be able to maintain it as foreigners. We also had to get working papers and an authorization from immigration allowing us to work for our own company. That's something you absolutely should have a lawyer handle for you and do everything properly.
(Owners of S and S Auto, Lake Chapala, Mexico, pictured.)
Posted April 22, 2017