# Info on Business owning ?



## Rbuchner (Mar 31, 2014)

HI there, 

My husband and I are looking to move to Mexico ( we are still scouting out areas of interest) I would love to get some tips from anyone who has moved there and opened a small business. Specifics on types of Visas, the amounts of money needed in bank account for Immigration. I have read a bit but either most applies to retired expats. 
Thanks.


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## Longford (May 25, 2012)

:welcome: to the Mexico forum!

My suggestion: Once you have identified the type of business you're interested in opening/operating and also the city/town in which the business will be located .... contact a qualified/highlly-reputable _Notario Publico_ (an attorney which not only handles real estate matters, but equally as often matters of corporate formation and business registration) in that city/town and ask about the government filing requirements. There are general, and specific requirements ... depending upon the type of business. The Notario Publico will probably also recommend a competent immigration attorney and a local accountant. For some types of businesses, having a Mexican/local partner may make a lot of sense. For other types of businesses, well, you could do this independently. However, you will want to do sufficient homework, due diligence on the type of business, the local demand (market research), and the level of existing or potential future competition you'll face (or present to other similar businesses). Getting-off to a good ... the right ... start legally, organizationally and financially will, obviously, have a lot to do with your potential for success/failure. Best of luck! Keep us posted on your progress.


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## sparks (Jun 17, 2007)

Many here start seasonal businesses catering to ****** snow-birds -- restaurants, bars, deli, coffee shop, etc

A few more interesting ones are property management, electrical supply store, tour companies .... and out our way, a watermelon farmer

Gotta go where the gringos are for your own business


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## GARYJ65 (Feb 9, 2013)

Longford is right, what type of business are you interested on?


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## TundraGreen (Jul 15, 2010)

sparks said:


> […]
> A few more interesting ones are property management, electrical supply store, tour companies .... and out our way, a watermelon farmer
> 
> […[


Sail repair in La Paz.


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## Rbuchner (Mar 31, 2014)

Thanks for the replies. 
well, nothing too exciting of a business, B&B and organic cafe. But I am just wondering which visas and how much money do we have to have in our bank accounts? We are thinking of coming first and working and then applying for everything once we live there... but we would like to get a better sense of what we need before we pack up our lives.


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## Longford (May 25, 2012)

Rbuchner said:


> Thanks for the replies.
> well, nothing too exciting of a business, B&B and organic cafe. But I am just wondering which visas and how much money do we have to have in our bank accounts? We are thinking of coming first and working and then applying for everything once we live there... but we would like to get a better sense of what we need before we pack up our lives.


Some thoughts of mine:

My further suggestion is that you take the time to review the revised (November 2012) immigration regulations. There are several or more discussions of those rules located further down the list of discussions which are archived here on the Mexico Forum. The amount of money you will need to show as consistent monthly income for each of you, or in the alternative the real estate or other assets you may be able to show which could qualify you, have been discussed here before in the prior discussions. As with many other government regulations in Mexico, with the immigration requirements there have been reports of varying levels of income being accepted. The process, however, starts in your home town before you leave for Mexico. Othewise, you'll most likely have to return to your home country at a later date and start all over.

You cannot legally work in Mexico without advance permission from the government and I believe that approval is still required to be written onto/into the visa which you will receive. If you attempt to work without permission it's likely someone will turn you in to the govenment because they'll be agitated that you're working. You may even have complaints lodged against you if you attempt to open a business, if you haven't dotted all of the "i's" and crossed all of the "t's". You're probably looking at US$5,000 in legal/accounting fees to start a business.

Unless the two of you already have the ability to communicate in Spanish at an advanced level, the possible cities where you'll be able to relocate and start such businesses is limited to those which attract mostly non-Mexicans ... and there will be others, Mexicans and foreigners, who will have, almost certainly, already started businesses such as you intend. From what I've witnessed .. B&B's aren't particularly popular amongst tourists visiting Mexico. There are some, but not many ... relative to the number of hotels (including inexpensive hotels). The Red Tree House in Mexico City is an excellent example of a successful B&B start-up (but it took a lot of cash to accomplish).

Remember, too, that tourism is seasonal in Mexico. Both for Mexicans and for foreigners. You'll want to have a sufficient reserve fund to carry you over during the slowest parts of the year.

My best guess is that you'll probably need at least US$200,000 start-up cash for a B&B and restaurant/cafe - depending on the city/town. In some places that number could easily rise to $300,000-$400,000.


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## sparks (Jun 17, 2007)

Come down and see how others are doing but you can't come down and "try it". Like I think was said above .... you can't apply for a visa here. You apply at a Consulate in your home country.

Most of us know about retirement income .... but what you need to move down and start a business will be found at your local Mexican Consulate


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## RPBHaas (Dec 21, 2011)

I have a business registered here in Mexico. I used the services of a bilingual attorney based in Baja California Sur but the business was originally registered in Colima. I did not have to provide any financial information.


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## Rbuchner (Mar 31, 2014)

Did you have a Mexican business partner? What is your visa status? Do you live there?


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## RPBHaas (Dec 21, 2011)

Rbuchner said:


> Did you have a Mexican business partner? What is your visa status? Do you live there?


I do not have a Mexican business partner as it is not needed. I have a temporary residence visa with work permit (one document). I first acquired my visa under the old system in 2009. I live in Jalisco.


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