More and more people are deciding to make the move to Mexico becoming expats. Although there are many benefits from doing so it can be difficult wrapping your head around getting an income set up in a country you do not know, speaking a language you do not know either.
Fortunately it is actually quite simple solving your residential issue and setting up a business in Mexico, and there are many opportunities for running your own online business as well.
If you decide to make a Mexican business you will first need to visit the nearest immigration office. You can do this when you arrive, just make sure your tourist visa has not yet expired. At the office you will explain to them that you would like to create your own business and need a temporary residency with the appropriate status. The requirements for this is quite low. You will need your passport, a utility bill and a bank statement that shows you have enough funds to live off for the next 6 months. Normally around $5,000 pesos ($245 USD) per month. It can take a few weeks before your residency card is in but in my experience the immigration officers in Mexico are quite helpful.
Once you have your residency card you go to Hacienda to set up your business. You will have to make an appointment online HERE beforehand. The whole process is quite simple and you will be good to go in no time.
What if I do not want to pay taxes in Mexico?
A great option is to set up an offshore company and company account. This is especially useful if the business you want to set up is 100% online. Depending on your nationality there are many options such as Seychelles and Nevis & St. Kitts. Prices to get this setup is around $1,000 USD depending on which provider you go with. Just search in Google for “offshore company” and do your due diligence on the providers.
If you already have your business and residency set up or want to skip this step and get started working in Mexico as an independent you can read the article How to start a business in Mexico.