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Opening a B and B : Fideicomiso vs Mexican Corporation

Hello,

My companion and I are having the project to purchase a house in Merida to open a small B&B/Boutique hotel… (I am sure you hear that a lot, right?)
I have dual citizenship French-American, my companion is US citizen.
Our home would be used for "tourist activity" and simultaneously used for residential purposes.
According to our prediction, our max income would be less than $60,000/year and I am pretty sure it must be reported.

I know each choice involve more choices (taxes, uso de suelo, formalities, visa, taxes etc. ...)
We want to make sure we are doing things the right way for us and from a legal point of view.
So, our question is : what our best (and ideally easiest!) option : a Fideicomiso or a Mexican Corporation?

Any tips are very welcome!

Thanks in advance.

Elise

Elise Passavant :

Hello,

My companion and I are having the project to purchase a house in Merida to open a small B&B/Boutique hotel… (I am sure you hear that a lot, right?)
I have dual citizenship French-American, my companion is US citizen.
Our home would be used for "tourist activity" and simultaneously used for residential purposes.
According to our prediction, our max income would be less than $60,000/year and I am pretty sure it must be reported.

I know each choice involve more choices (taxes, uso de suelo, formalities, visa, taxes etc. ...)
We want to make sure we are doing things the right way for us and from a legal point of view.
So, our question is : what our best (and ideally easiest!) option : a Fideicomiso or a Mexican Corporation?

Any tips are very welcome!

Thanks in advance.

Elise

Hi Elise,

Your questions are more legal and perhaps accounting questions , not questions the forum is designed to answer.

I would suggest you look at the handy tools section of the forum at the top of the page to perhaps find a lawyer and accountant that can guide you through the legal and tax issues you will encounter.

Buena suerte

Thank you I will!
I was hoping that maybe someone might have gone through that path and provide some advices...

Sorry Elise,

It's just too complex, and really requires someone who knows the legal system to advise on what direction you should take to not get into trouble. From what you say there are property issues, income issues, and potential ( very likely) tax issues . They are individual issues related to your situation. It's not like advising about border crossings, visas and travel or places to live.

This involves money, property and laws ( city as well as state laws) That requires expertise and experience at a professional level. As you said "We want to make sure we are doing things the right way for us and from a legal point of view." We want to see that happen for you also.

Hi Elise, like "travellight" said,  your project requires numerous legal aspects so the following link could help you find legal and admin services.

https://www.mexperience.com/about/
http://www.soniadiaz.mx/home.html (this one I used got good awnsers no cost)

Adios y buena suerte en su proyecto, GyC.

Thank you for taking the time to answer!

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