buying a business

[loukass]

Hello

I am in the process of buying a business(Tours with boats).Does anyone know if i will have problems not beeing mexican.Is there sometings i should be aware of...is it possible or...

Mostly apreciated

Loukass

[Babaloo]

research research research
i know for some, owning a business here turned out to be their worst nightmare
It is Mexico...not the States and the bureaucracy can put one over the edge (and sometimes out of business)
...for others, it's a completely different story and it's worked out great.
I don't know if you are forming a corporation, but that in itself can be very expensive to float (fees alone)

good luck!

[John]

As mentioned already, starting a company in Mexico is possible, but it can be frustrating. I am sure that applies equally to Mexicans and foreigners.

The best way to accomplish this is to find good accountants and lawyers and have them do the work for you. "Good" sometimes results in "Good Enough", but sometimes it can result in you firing your first choice and moving on to your second or third.

Do not be tempted to grease the wheels. Once you open your wallet, you find that you have a reputation for handouts. And, unfortunately, greasing the wheels sometimes results in not-so-legal shortcuts, which may come back to haunt you in the future.


One last thing... if you are buying an existing business, do everything in your power ahead of time to make sure that they are legit and have been paying their taxes - check their business tax statements.


If you have more specific questions, please feel free to ask them. Good luck!

[mayaplayagrandma]

Originally Posted by loukass

Hello

I am in the process of buying a business(Tours with boats).Does anyone know if i will have problems not beeing mexican.Is there sometings i should be aware of...is it possible or...

Mostly apreciated

Loukass

welcome, need more details on what kind of tours. The short answer here is that I believe you will have problems because you are not a mexican. I would not recommend it. Even if you get all the paperwork and permits needed, in the end, I think you will find your boat has sunk by the fishermen.

[loukass]

Tanks everyone

The business is already established and running but then again maybe it's having problems this I will have find out by myself (in respect to actual owner... cant obviously post publicly the exact business) But in terms of finding out if the company is in good shape (Taxes, permits etc..) how easy is it?

Is it hard or to hard to do business there ?

It's seems that there are many different opinions and experiences about doing business in Playa regardless of what type. Then again some of you have succeeded whit a lot of perseverance and hard work I imagine. I am aware that in Mexico and many other countries it is harder and very different for having tried in Dominican Republic and Turks and Caicos. So that being said, I’m hopping that whit a bit of help from you guys I will find my way in your paradise.

Loukass

[mayaplayagrandma]

Originally Posted by loukass

Tanks everyone

The business is already established and running but then again maybe it's having problems this I will have find out by myself (in respect to actual owner... cant obviously post publicly the exact business) But in terms of finding out if the company is in good shape (Taxes, permits etc..) how easy is it?

Is it hard or to hard to do business there ?

It's seems that there are many different opinions and experiences about doing business in Playa regardless of what type. Then again some of you have succeeded whit a lot of perseverance and hard work I imagine. I am aware that in Mexico and many other countries it is harder and very different for having tried in Dominican Republic and Turks and Caicos. So that being said, I’m hopping that whit a bit of help from you guys I will find my way in your paradise.

Loukass

I sent you a pm, please check-I believe I can help

[Page]

From what I've heard, a good accountant may be even more important than a good lawyer. To find a good accountant, you should ask for referrals from successful local business people. And along with a good accountant, I wish you good luck!

Caroline

[claudiadeplaya]

to find a good accountant and a good lawyer is very important, you can check the "list" in the Consular office, they have a list of recommended accountants and lawyers, and if you ask for someone specific they can tell you if he has been removed from this list.
This is a safe way to get references or know if someone has been blacklisted.
I translate for a lot of business owners that have had a lot problems because they did not research the people they hired first.
Don´t be discouraged, owning and operating your business here can be as good and rewarding as in very many other places and living here is a great reward in many ways-
wish you lots of success and fun, talk to lots of people who have been here and done that, it will be very good for you to learn from their experience.

[marissab]

Originally Posted by loukass

Tanks everyone

The business is already established and running but then again maybe it's having problems this I will have find out by myself (in respect to actual owner... cant obviously post publicly the exact business) But in terms of finding out if the company is in good shape (Taxes, permits etc..) how easy is it?

Is it hard or to hard to do business there ?


Loukass

Hi. The company's accountant should have all the numbers as far as how well the company is doing. Unlike the states, the accountant keeps very detailed records for the Mexican government. Finding out if permits etc are up to date should be rather easy too.

It is VERY Hard to do business here. I was told if you can make a business work in Mexico you can make a business work anywhere.


I am curious though...I remember being told that foreigners can do any business in mexico EXCEPT be a boat captain or tour bus driver. I am guessing you will NOT be driving the actual boat....but know that by law you never could (in the event of an emergency etc) drive your boat.
Okay, maybe I'm wrong on that, but I really truly think not.

Get an accountant here who speaks GOOD english. I know of one. Get a lawyer who speaks GOOD english too! I know of one also.

I do know a another business (Viable and profitable) that is going up for sale soon in case this business doesn't work out for you. Just PM me .


GOOD LUCK! It's very exciting!

- Marissa

[loukass]

Tank you everyone and keep feeding me



Marissa i am curious to know....