![]() As a sole proprietor, your liability is unlimited. You are required to obtain a permit to work and you must be a resident, but not necessarily a Mexican national. Full year tax compliance services, including an annual tax return run from $1,000 U.S.įor legal and tax purposes, an individual is permitted to operate as an individual enterprise in Mexico. The cost to set up a corporation or a limited liability LLC with foreign investors begins at approximately $2,000 U.S. A power of attorney is often used to allow an individual flexibility in their travel arrangements while conducting business in Mexico. In setting up a corporation, the use of a Notario Publico is required. The notary is ultimately responsible to the Mexican government. They are responsible and legally liable for the accuracy of his/her work. Unlike the U.S., the notary title in Mexico distinguishes an attorney who is appointed by the State Governor. Only a Mexican Notario Publico can prepare a deed for real estate transactions. These forms of organization are not used as often as is a corporation. Capital shares are provided to its members. Setting up a Sociedad de Responsabilidad Limitada offers limited liability for all partners. The minimum initial capital is approximately $4,500 U.S.Ī Sociedad En Nombre Colectivo is the equivalent to a partnership, with again, the undesirable feature of unlimited liability to the partners. Shareholders receive limited liability and the capital may be changed easily. This form is similar to a United States corporation. The majority of expat business owners in Mexico set up a Mexican Corporation, the most common choice is the Sociedad Anonima De Capital Variable. The following describes a corporation, a partnership and a sole proprietorship: If you are operating a business in Mexico, your tax and legal professional will likely recommend a Mexico business entity. Mexico taxes any gains on “non-principal residence” sales. ![]() Holding Mexican real estate may be accomplished in many ways, from in ones personal name, a trust or a corporation. A close second is how much protection you want to provide against potential creditors. ![]() ![]() ![]() This discussion is not intended as legal or tax advice, and cannot be relied upon for any purpose without the services of a qualified professional.Ī first consideration is will your business simply hold real estate or will it be generating income. THE STRUCTURE OF YOUR MEXICAN BUSINESS ENTITY ![]()
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