BajaNomad

Buying an existing corporation

rhintransit - 12-19-2014 at 03:46 PM

Other than the obvious, consult a lawyer, any advise on buying iinto existing corporation?

mikeymarlin - 12-19-2014 at 04:41 PM

yea, CONSULT A TRUST-WORTHY LAWYER !!!!!!!!

and cover your burro---












Bob and Susan - 12-19-2014 at 04:45 PM

...and a notario...

remember when you buy a corp you assume all the liabilities
good or bad
employees too and all payments

better check history of corp and
see if hacienda will accept your purchase as the new owner

...see a lawyer and a notario

Marc - 12-19-2014 at 08:58 PM

Buy mine. I am 74 and need to get out.

bajabuddha - 12-19-2014 at 11:24 PM

Regardless of the amount of legal advice, representation or negotiation you have, NEVER invest what you can't walk away from.

Buena Suerte.

[Edited on 12-20-2014 by bajabuddha]

BAJA.DESERT.RAT - 12-20-2014 at 12:42 AM

i have posted my mexican " UNUSED " corp. for sale in the past.

i had it all set up by a notario in san jose del cabo and have been paying my accountant in los barriles to renew it every year as inactive.

my plans fell apart with the economy just as it was created.

if you're interested, it's still available. send me a u2u with your phone number and let's talk.

BIEN SALUD, DA RAT

Hook - 12-20-2014 at 06:45 AM

ls it true that it is illegal to include your personal Mexican domicile into a Mexican corporation? I have always heard that..........but I know lots of people who have done it, especially Canadians.

Bob and Susan - 12-20-2014 at 07:16 AM

that could be an "urban myth"
but

you do need an RFC number and
file monthly reports to the hacienda dept
and a yearly report
have permission to work with your corp in mexico
...hire employees
pay SS and medical
and
pay the state tax for having a employees monthly

failure to conduct business would be "skirting" the law

I wonder if anyone has ever had trouble holding a property with a corp andliving in that property without conducting "real" business?


[Edited on 12-20-2014 by Bob and Susan]

larryC - 12-20-2014 at 09:49 AM

Lots of Corps down here around Bola and with the principal residence on the property. Within the last year or so I noticed signs in front of these properties advertising it as a bed and breakfast or lots for sale. I'm guessing that their accountant had them put the signs up to skirt some law. All the signs look like they were printed by the same person. There must be 10 of them or so. Hope it is not a sign of things to come such as enforcement of laws.

ncampion - 12-20-2014 at 12:09 PM

I know of someone with a corporation who officially rents his house from the corporation for a minimal amount of money. I think that was advised by someone "official".

DianaT - 12-20-2014 at 12:31 PM

Quote: Originally posted by larryC  
Lots of Corps down here around Bola and with the principal residence on the property. Within the last year or so I noticed signs in front of these properties advertising it as a bed and breakfast or lots for sale. I'm guessing that their accountant had them put the signs up to skirt some law. All the signs look like they were printed by the same person. There must be 10 of them or so. Hope it is not a sign of things to come such as enforcement of laws.


Some we know own their second home through a corporation and have their corporations inactive --- they have been told that is legitimate. I wonder.

One thing for sure, if the Mexicans start enforcing their laws, well, we will hear the screams of how unfair and lots of bashing of the Mexican legal system.



[Edited on 12-20-2014 by DianaT]

rts551 - 12-20-2014 at 02:33 PM

why wouldn't we want the laws enforced? we can cry about the corruption when they are not? I would like to see them enforced and modified when needed.....like foreign ownership....not going to happen as long as people abuse the system.

Mexican Lawyers

baconjr - 12-22-2014 at 10:42 AM

Never, I repeat never hire a Mexican Lawyer named "Jesus".
Quote: Originally posted by Mikemarlin  
yea, CONSULT A TRUST-WORTHY LAWYER !!!!!!!!

and cover your burro---












MitchMan - 12-26-2014 at 10:18 AM

Start and create your own Mexican corp. Why try to save a little start up money but expose yourself to unknown lurking liabilities with someone else's corp? Not worth it. Administrative things in Mexico are difficult enough without adding more potential exposure.

Bob and Susan - 12-26-2014 at 01:40 PM

actually sometimes it is better to buy a corp

the corp may own property...cars...trucks...concessions...
if legal... it has a hacienda number and a working business in place

the corp is treated like a Mexican citizen too

all you need to do is make sure there are no liens before you close and that is done by the notario

if you had to get another concession that would be an added expense
and it may not happen...concessions are not property

transfer of titles to trucks and cars is an expense too

everything in a corp can be transferred in a few days..not weeks or months

if the general admin dies the "second" can assume the general admin position by using a death certif at the notario...really easy...no will needed

its a business and the business moves on no matter who is running it