Unlock the Full Potential of Digital Signature Licitness for Corporations in Mexico

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Your complete how-to guide - digital signature licitness for corporations in mexico

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Digital Signature Licitness for Corporations in Mexico

When it comes to ensuring the legality of digital signatures for corporations in Mexico, it's essential to follow the proper procedures. Understanding the process for using electronic signatures can help businesses streamline their operations and stay compliant with local regulations.

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How to eSign a document: digital signature licitness for corporations in Mexico

Hello jungle tribe, how you doing? This is  Sebastian Papworth. I'm a real estate broker   investor and developer in the Riviera Maya and  today we have a very very special treat for   you. We are with Stephanie de la Millar. How are  you doing today Stephanie? Very good, yourself?   Very good, above average and i'm  very very happy to be able to   talk with you and so that you can share all  of your knowledge about real estate law,   immigration, i mean you know so many things  about real estate law here. So you're the partner   and co-founder of Sekuralaw, is this correct?  yes, partner. Okay perfect and how long have you   been in Sekuralaw? I have been here eight  years accounting. Awesome, eight years,   wow that's a long time. So do you know how many  real estate transactions you've been a part of? Tough questions. I will say, maybe  already a thousand we can talk about. okay so just to give you an idea  of how much knowledge she has.   So our readers and our viewers asked us  several questions so we're going to shoot   those legal questions, closing questions,  questions about immigration, taxes and   just overall the legal closing process  in the Riviera Maya. So let's start. So now let's talk about setting up a mexican  corporation. How to purchase a property   through a mexican corporation? How  do we do this? Really good question.   Obviously the most important part here is setting  up a corporation here in Mexico takes time  right now. Due to the IRS. Mexican IRS has also  endorsed. The system that they have right now   it's a bit complicated that the older one. So it  will require time. Basically what you need to set   up a corporation is: three to five name options,  have a valid identification, your password preferably   and the process is submit the names to the  authority's approval and draft the environment   of the corporation and you will need at least  two persons to set up the corporation. It can be,   that is really important, because most of the times  investors are confused about this but it can be   two foreigners. You don't need a mexican partner. But  it has to be at least two people. It has to be two.   If you wanna have  a business partner you can contact me, I'm available.   The most important part is getting the bylaws  drafted and a also hiring an accountant so you can   keep the corporation in good shape and have the  books up to date. That will be really important   in the future as a comply with the  mexican regulation, as to deduct taxes.   Which is one of the good benefits of a corporation  here in Mexico. The main content will be devalus.   Who will run the corporation? There is two  ways you can have solo administrator or a group of persons that will be the president and  the vice president of the corporation, let's say.   Who will have the decisions inside of the corporation  and will represent the corporation legally   speaking. But also you have to appoint a power of  attorney, for at least an accountant, to be able to   make all the diligences and all the procedures  at the IRS and be able to open a bank   account. Because this is also really important.  If you don't have residency here in Mexico,   you cannot act in front of a third parties  as a legal representative of the corporation.   So that's why you will need an accountant. Okay. You  have to have permanent residency or it could be...   It can be any as long as this is residency, whether  it's temporary or permanent or a   permit to work. That will be the three options but  you have to have the resident card in order to be   able to represent the corporation that you own.  Otherwise there is an alternative that you   hire an accountant. The fact that I like about  that is that they have professional responsibility   regarding to the manage of the corporation, so since  you are paying to the accountant they have to   make responsible of their well functioning  of the corporation. That's why we advise that   once that you set up the corporation, at the same  time you are hiring an accountant and giving the   legal faculties and the responsibility  to keep the corporation in shape.  And let's talk about costs. How much does it  cost to open a mexican corporation? Including   from a to c regarding the corporation creation  until the opening of the back account, because   some of the times, okay you have your very nice  deep about the corporation, but it's worthless   because you don't have the bank account, the  tax id so actually you cannot run the corporation   itself. You know, it's from a to c hiring the  accountant and everything, it's about $2 500. Okay.   That includes the notary public fees and expenses, also and really important, get your corporation duly   incorporated in the public registry of  commerce system. That will be required for   all the business and procedures that you want  to do with your corporation. Okay, so around   twenty five hundred dollars to set up a mexican  corporation. Exactly. And do you have to pay   any annual fees? You just take accountant? You  use maybe the accountant, of course the taxes.   Basically, like in any part of the world, of  course that you have to make your statements.   Obviously the account will do it for you if  you hire one. And at the end of the fiscal year   it will depend about how the  finance of the corporation it was,   the IRS might return some of the expenses  that you made at the end of the year but you have   to keep all the books and all the records of the  corporation, month by month in a super good shape.   Got it! And are you able to hold several titles  within one corporation? Several properties? Yes.   The good thing about the corporation is you  can buy whatever you want to buy, being any   asset. Real estate, cars, you know, furniture,  anything can be bought by the corporation.   You have to have also the invoices of the every  item that you buy with the corporation because   that way is the way that you can prove to  the IRS in Mexico, in the country and in   the country where you live that you actually  have these expense and this investment to   be able in the future and ingly to the law  be deductible from taxes. Okay. And are there any   key differences between an LLC in the U.S. and  a mexican corporation? It works very similarly. Here in Mexico every shareholder responds  only in the amount of the investment that   they made to the corporation. That is the  main statement of an LLC as is in the U.S.  Awesome! What else? If you have any  questions about if it's better for   you to get mexican corporation or any  questions you want to ask to Stephanie,   shoot us a comment in the video and we will  make another video or respond in your same comment.   From beginning to end, eight to seven,  how long does it take to finally open the   mexican corporation and have the bank account and  being able to hold the title in the corporation?   The average of the entire process is  three two five months. Three to five   months. Yes. You have to bring one mind up if  you want to buy a mexican corporation so you have enough time to set it up. So if  you want to purchase a property through a mexican corporation the process to open that corporation from beginning to end might take up to, from three to five months, three to five months, three to  five. Okay, so that you can keep that in mind. Thank you so much Stephanie! You are a  world of information. Thank you so much   for all the valuable content, all the valuable  information that you've shared with the audience.   What if there is someone that wants to  purchase a property or wants help with   immigration or taxes? How can they contact  you? We have our website it's sekuralaw.com   and you can also find us in instagram, we  upload content every day and useful content.   It is sekuralaw_sc (changed name) and also you  will have my whatsapp number and my email address   so you can feel free to reach me. Thank you so  much for inviting me to chat. This has been really   really really enjoyable. Thank you very much  and thanks everyone for watching this content.   Give it a like, subscribe to the  channel; we will keep updating you   with more information so that you can make  a safe investment. Happy investing everyone!

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