Can a Canadian run a biz in Mexico?
Can a Canadian citizen move to mexico and open, own, and oporate their own business down there? What are the rules behind that?
- Jim 2Lv 710 years agoFavorite Answer
Yes , Mexico is open for business. I won`t go into all the details but the two things to keep in mind is that you will need an FM3 working Visa. It is a temporary resident Visa Like our Permanent Resident Cards.
You have to employ a % of Mexicans and any family members must also get FM3 s and work permits that are not easy to get aside from the financial requirements.
That`s the short of it. Beware and do your research. Mexico is very competitive.
You only need to show that you have Money to invest and support yourself and will be at least $14000.cnd in the bank. Somewhat less if you and your family share a home.
No offence Doc but an FM3 is a temporary resident Visa and a permit to live in Mexico on a yearly basis. One has to have an ongoing source of income like a pension totally $1300 US dollars a month. You can also provide bank statements indicating you have a multiple of 12 times that requirement and can be renewed indefinitely.
Iknow Doc`s answer was well intended but is wrong. I know dozens of people and I have had two myself and had two properties.
The annual FM3 is a non immigrant VISA that gives one permission to be in Mexico on a yearly basis and the holder can have no intention of Migrating.
Please read the link.
Oye Marci...I am aware of the changes and provided a link!!
The Doctor called it a NON -"Resident " Visa and that is WRONG. It is a non IMMIGRANT VISA!!
I have lost respect for Rolly a long time ago. Just read his link He constantly contradicts himself.
I will NOT believe it until I see it. He says the name has been changed and all through the link he says FM3 more than ten times. This is not the first time.
The term FM3 will be used for many years to come.
There was a theatre in Acapulco that was destroyed and replaced with a Sears store called Cine Rio. It was destroyed in 1990 and the buses stile have Cine Rio as a reference point for the route painted on their front windshields. 20 Years. If I am wrong about this I will be the first to apologize.
The new FM3 is a Card that says NO Imigrante but the form name will not Change nor will the card`s status. It is a temporary resident permit.
Again, I refer to immigration specialists.
As well Marci, the renewal form was the same and you now have a Card and surrendered you old green book,....correct ?
Geeez I just wanted to help the guy out and end up writing a book to convice the asker that this is the way to go about it. Ilove being corrected but don`t like it much when I am contradicted so here is another link. Please note the first few words and dates on the 2nd link.Source(s): http://sandiegoleisure.com/MEXICOVISAS.html http://sandiegoleisure.com/FM3ANDFM2ONLINEAPPLICAT...
- Anonymous10 years ago
Jim's answer is essentially spot on! The only correction I would make is that the FM-3 is a non-resident work visa, good for one year, whereas the FM-2 is the resident version. You will have to start out with the FM-3. If you're going to run a small self-proprietorship... essentially a one person shop, then you're only going to have to be concerned with the licenses, permits and tax issues. They are not that complex, but they are different from what your accustomed to, so consulting a professional might be advisable. If you will have employees, you'll need to inform yourself about the labor laws, which are quite strict, and VERY different from those of Canada or the US. Depending upon the scale of the business, your responsibilities will vary. I would suggest professional advice.
I have been setting up and managing small and large businesses in Mexico for nearly 20 years.
- eklovLv 43 years ago
there's a Canadian lady who substitute into arrested in Mexico over 2 years in the past. She has been held and not using an ordeal the entire time. Her boss substitute into accused and admitted to fraud yet signed a sworn assertion saying that the female had achieved not something incorrect and knew not something approximately it. The Mexican government are nevertheless protecting her. there have been Canadians murdered down there and the justifications given for their deaths do not tournament the post-mortem comments.
- marci knows bestLv 710 years ago
I would just add read Rolly's How to Move to Mexico and be prepared for an incredible amount of bureaucracy and red tape. But it is possible. They are especially receptive is you can show you will be employing a number of Mexicans.
Jim, the new law has a variety of changes. 'No inmigrante' is the new name for FM3. And there are different rules for retrirees and people working or operating businesses. Rolly has the latest scoop.Source(s): just got my renewed 'No inmigrante'.
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- Anonymous10 years ago
Yes, but if you're canadian you need a visa to come down here, and you need to get the permission from the government at first, to install a business, and it must be in the zones belonging to the commercial areas (at least where i live, Mazatlán), though you could also work illegally and give the cops or authorities a little bribeSource(s): mexicano
- 10 years ago
yes actually anyone can! i know tons of people who live in the U.S and have their Business in mexico!.. i don't know the rules or anything but i know tons of people who have Business over there... i live next to the border so that's why i know all of this!.. Hopefully this helps!