Owning a business

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sfactor
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Owning a business

Post by sfactor » Tue May 12, 2009 7:31 pm

Throughout my research on moving to and living in PV, it seems that the best way to secure a future there is to own your own business.

Does anyone on this forum own a business in PV? I would love to hear from you and your experience.

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owner

Post by teatrolimon » Sat May 16, 2009 11:56 pm

yes you can private message me with any questions you have

bruce

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Operating a business

Post by Bob Hickeson » Mon Jun 15, 2009 5:45 pm

I plan to open a small buslness in the PV area which will employ local personnel. Are there government regulations regarding foreign operated businesses.

Bob

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    Post by teatrolimon » Mon Jun 15, 2009 8:22 pm

    bob

    there are many regulations
    im not one for discussing such higs in depth on the internet
    but if and when you get to pv the nxt time
    just drop me a line and ill assist you in any way possible

    there are a few people here that also own business
    i have a restaurant but there is another lady katsnsocal that also may be able to assist you

    either ay my information and knowledge comes from a few years of exprience
    i also have reputable professional contacts that all speek english and spanish and in my opinion this is very important , especially for first timers
    good luck with whatever your endeavors bring you

    bruce

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    katnsocal
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    Post by katnsocal » Tue Jun 16, 2009 12:03 am

    There are ALOT of regulations regarding owning a business in PV. I too suggest you try to tap into the a successful source in PV in the same type of business you want to open. They will be able to give you the specifics for that particular business type but it is best done in person, not over the internet, it is just alot of information.

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    Sr. Fox
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    Post by Sr. Fox » Tue Jun 16, 2009 12:56 pm

    I presently own a business here and have owned a couple of others.
    You are doing the right thing by starting to do research. Don't stop.

    Some quick advice.
    Talk to many and trust no one until you have checked and rechecked.
    Get down here and buy nothing for quite some time. This will give you the time to recheck everything. After some time the garbage will float and you can skim it off to get to the real facts.
    Don't hire lawyers down here to do your legwork for you... you are much better off getting a good accountant and do the legwork yourself.

    Having said that, I find that owning a business here is in many ways way less hassle than owning one "up North". If you are here, pay attention to your business and are willing to learn, you have an excellent chance of succeeding providing you follow the same common sense business ethics rules that you would at home.

    Stop in and I will gladly tell you what I know.

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    getting a business license

    Post by srasalyano » Mon Sep 07, 2009 8:57 pm

    I've been reading the posts but am wondering if anyone knows who to speak to or where to go regarding business licenses. My husband is a Mexican citizen so I think that should make it easier to set up the business, right?
    I was thinking about hiring a lawyer however I read that someone says it's best to get an accountant and do the legal side ourselves. I'm fine with that but our issue has been trying to find out where to contact regarding the license itself. Currently we are in Canada and won't be back in Mexico for a few months but I'd like to get the ball rolling now, if possible.
    I appreciate any help or suggestions any of you may have. Thanks!

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    Post by mykul » Sat Aug 07, 2010 8:22 pm

    I realize I am reviving a bit of an old thread here but I do have a couple of questions which I hope one of you Vallarta business owners can answer.

    My fiance is Mexican and we plan on getting married next year ( in Vallarta actually).
    We plan on relocating to Mexico permanently, probably to Guanajuato or elsewhere in the central colonial area.

    Everything I've found online has said that although it's okay for a foreign national to own a business, it is not okay to work in the business if you are taking a position away from a Mexican national.

    I am just wondering how this applies, especially to the restaurant business. We plan on opening a small restaurant where we move and I'm wondering if I will be relegated to supervisory position or can I actually be in the kitchen or on the floor.

    Any advice would be greatly appreciated.
    You can reply to this thread, Pm me or email me directly at [email protected]

    Thanks in advance.

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    Post by katnsocal » Sat Aug 07, 2010 11:59 pm

    Everything I've found online has said that although it's okay for a foreign national to own a business, it is not okay to work in the business if you are taking a position away from a Mexican national.
    I think you are confusing two different situations.

    1. If you own the business you are of course allowed to work in it and run it.

    2. If you wanted to work in a restaurant other than one you own, you could not take a position away from a Mexican national that could perform the work.

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    Post by mykul » Mon Aug 09, 2010 1:20 am

    I know I am unable to work for someone else in Mexico, but I have read specifically that the owner is prohibited from doing a job a Mexican National could do (ie: serving, dishwashing etc.)

    If the regulation does exist I am certain it is a bit of a grey area, but I wanted to appeal to the business owners here for a bit of clarification.
    Thanks.

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    Post by aploj » Wed Oct 06, 2010 6:54 pm

    I can confirm that you can "work" in your business, but you won´t be able to receive a salary if you don´t have a specific permit (an FM3 or FM2 that allwos you to work).

    So, you can "work" in your business, dedicate time to it, serve, etc but you won´t get paid by it, you will just receive the dividends from it. If your wife is Mexican, she can get paid "your" salary and that way you won´t have a problem and she can get paid for both.

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    Post by katnsocal » Fri Oct 08, 2010 12:31 am

    If your wife is Mexican, she can get paid "your" salary and that way you won´t have a problem and she can get paid for both.
    I think you will have problems with hacienda if you try to have your wife collect a salary for "you" and one for "herself."

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    Post by aploj » Fri Oct 08, 2010 1:49 pm

    Let me rephrase it. Hacienda won´t allow you to work as you don´t have a permit for that, so you won´t be able to receive any compensation from your business in the form of a salary or "honorarios" (the other way of receiving it). You can dedicate as much time as you want to your business, but not get paid for it. But, in case you want to have a monthly income for your family, given that your wife is Mexican, she can receive a salary (no problem at all), which obviously needs to be in line with the market. That is not a problem at all, in the contrary, Hacienda will be glad to have another employee paying Social Security, Infonavit, etc and is completely legal.

    Not only that, given that you will be investing in your business, I recommend requesting an FM3 for investors and ask them to add the authorization to perform the role of management of corporations (if they do not ask you to be specific, if they do you can put the name of the company you will incorporate). With that you can even be more sure that you won´t have any problem at all.

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    Post by katnsocal » Fri Oct 08, 2010 8:56 pm

    But, in case you want to have a monthly income for your family, given that your wife is Mexican, she can receive a salary (no problem at all), which obviously needs to be in line with the market. That is not a problem at all, in the contrary, Hacienda will be glad to have another employee paying Social Security, Infonavit, etc and is completely legal.
    Yes an employee receiving a salary in line with the market will not be a problem, an employee receiving two peoples salary would be a problem.

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    simply put

    Post by teatrolimon » Wed Oct 20, 2010 12:09 am

    i dont know where you folks are getting your information

    i live and work in my restaurant
    i take as much money as i want
    simply put, you are given a rfc number when you start a business
    that is after you receive proper documentation and credentials ( your fm3 )
    there are many types of fm3 available

    in order for you to work in your business it must say that right on the document itself

    the monies you make are your and you can do whatever your little heart desires with the monies you have earned
    AFTER YOU PAY YOUR TAXES!

    Getting your work permit is very simple

    i dont have all day to explain, but if you end up in pv
    dop in and see me ill explin in detail at that time

    Kat is very well informed in this matter as well

    we are both business owners
    the only difference between her and i , is that i live here full time and draw any salry i want

    her relationship with her staff are hers alone and no one elses busines

    bruce

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    Post by mykul » Tue Jan 11, 2011 2:40 am

    Thanks guys. It is great to get some information from people with experience. I have spent a fair amount of time looking online and haven't found a lot of clear answers.

    Bruce: We are actually tying the knot in PV in Fall of this year, I may actually take you up on your offer and stop in. For some info and to sample some of the menu. We've heard great things about your spot.

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    Re: Owning a business

    Post by Thatguy1 » Sat Jun 01, 2019 4:56 pm

    Hey guys, I am an American from Oregon who wishes to relocate BACK to PV. I spent a good portion of my childhood living in PV. I attended the American school and we lived just north in San Pancho. PV is truly paradise as far as I am concerned.

    Currently, I have a few situations which I’m concerned about. For one, I’d like to relocate my business to PV; I currently own and operate an IT business here in the Pacific Northwest. My question (first of many I’m sure) is there a need for this industry in PV? We do everything from network security, server management to small workstation repairs just to make a few.

    I’m counting on having some capital as I plan to jump in with both feet. I have a family of five total, they have no experience living in a foreign country but I do. We also have some medical needs for my wife as she has MS and would need a monthly treatment. I haven’t found any insurance companies that will cover her YET with her pre-existing illness. Again, I have a lot if questions and would love some input.

    Best regards

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    Re: Owning a business

    Post by webmaster » Sat Jun 01, 2019 9:21 pm

    This is an interesting subject, I doubt you will get a reliable answer, but I am guessing there might be a good market for your skills in the hotel area. I would think of visiting the hotels and talking to the IT areas and see where you can complement their services, take care you don't step on some feet, IT Managers are always feeling vulnerable. I really hope someone else comes by and answers too, with better ideas. :-)

    Greetings

    Mogens

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    Re: Owning a business

    Post by Thatguy1 » Sun Jun 02, 2019 3:07 pm

    Me too, I looked at some of the threads. It doesn’t look like there’s been much activity since about 2010. I would think there would be some demand for what I do. My other plan is to simply stay under the radar. Buy a home, remodel it and flip it every couple of years... kind of a side project type thing. My wife loves working on homes. I figured if we were successful with that I could basically just do that as well. We were on vacation there a couple of weeks ago and with really little effort I was snooping around the resorts system. So I can definitely say they could use some help. Again, not basing my move to PV on my current background. The truth is I’m a little burned out on IT work anyway :0).

    Thanks for the reply

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    Re: Owning a business

    Post by webmaster » Sun Jun 02, 2019 4:58 pm

    All the best, and yes, it's good to mix things up.

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