rhintransit
Super Nomad
Posts: 1588
Registered: 9-4-2006
Location: Loreto
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Buying an existing corporation
Other than the obvious, consult a lawyer, any advise on buying iinto existing corporation?
reality\'s never been of much use out here...
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mikeymarlin
Junior Nomad
Posts: 94
Registered: 3-17-2014
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yea, CONSULT A TRUST-WORTHY LAWYER !!!!!!!!
and cover your burro---
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Bob and Susan
Elite Nomad
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...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
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Marc
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Buy mine. I am 74 and need to get out.
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bajabuddha
Banned
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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]
I don't have a BUCKET LIST, but I do have a F***- IT LIST a mile long!
86 - 45*
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BAJA.DESERT.RAT
Senior Nomad
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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
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Hook
Elite Nomad
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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.
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Bob and Susan
Elite Nomad
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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]
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larryC
Super Nomad
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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.
Off grid, 12-190 watt evergreen solar panels on solar trackers, 2-3648 stacked Outback inverters, 610ah LiFePo4 48v battery bank, FM 60 and MX60
Outback charge controllers, X-240 Outback transformer for 240v from inverters, 6500 watt Kubota diesel generator.
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ncampion
Super Nomad
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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".
Living Large in Loreto. Off-grid and happy.
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DianaT
Select Nomad
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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]
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rts551
Elite Nomad
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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.
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baconjr
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Mood: Es la vida de perro!
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Mexican Lawyers
Never, I repeat never hire a Mexican Lawyer named "Jesus".
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MitchMan
Super Nomad
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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.
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Bob and Susan
Elite Nomad
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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
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