Mexico is one of the most economically developed countries in Latin America. The country is part of the North American Free Trade Zone. About 20 thousand foreign companies operate and invest money in Mexico.
An up-and-coming and profitable business in Mexico is tourism. It takes the lead in services and is the second most profitable business for the country after the gas and oil trade. Accordingly, opening a tourism business in Mexico is always a good idea.
Before you start a business in Mexico, use Mexico cars for rent with Hertz car rentals Cancun to familiarize yourself with the area and the specifics of doing business. Therefore, use the services of Cancun car rental companies for your convenience.
Tourism in Mexico
The beaches of the Gulf of Mexico and the Pacific coast are famous and attract many vacationers. In recent years, the resorts of Cancun and Playa del Carmenza ranked among the most popular and visited resorts in the world. Hotels are almost completely filled during the entire holiday season, which lasts 8 months a year. A popular direction in the tourism business is opening hotels, cafes, restaurants, spa and fitness centers, diving clubs, and stores for tourists. The rapid development of the tourism business and the need for new services and products allow you to open a business in Mexico with good prospects.
Business in Mexico
To create a favorable investment climate, the country’s laws allow foreigners to own the company without the participation of local founders fully. A business can be owned by either a legal entity or an individual. Under Mexican law, foreign entrepreneurs have the right to establish companies in the country in certain organizational and legal forms: joint-stock corporations, corporations with different types of capital, limited liability companies, and cooperatives. The easiest way to start a business is to register a business in Mexico as a private entrepreneur.
The World Bank’s Doing Business ranking places Mexico among the countries where you can do business reasonably quickly and where it is easy. The World Bank gives Mexico 86 and 100 wholesalers for the Kοmpania and 90 wholesalers for the business.
In 8 days, for example, you can have an entire business, in this case, a restaurant business. The registration of the name of the company with the company name of Sociedad Anónima (S.A.), the company name of ΟΟΟ, takes two days, and another two days for the preparation and notarization of the company documents. The minimum amount is 1 MXM.
In terms of costs, it will cost approximately 30,000 MXN, or $1,500. This cost does not include additional services, e.g., a guide.
Then it depends on what kind of business you want to run, whether you need licenses, permits, etc. If you keep it to a minimum, you can operate your business as soon as it is registered.
What’s important to remember
Annual statistical and financial reports audited and certified. The taxation system in Mexico is rigorous. Each year, companies must pay into the treasury 1.8% of the value of assets, regardless of profits. The profit tax is 30%. And another company pays 15% as a value-added tax. Corporations are better because they only pay 10% of net profits.
Now you understand how to open a business in Mexico.
Opening a restaurant in Cancun
Cancun is one of the most touristy places, with many restaurants, cafes, and various event and recreational facilities. The critical distinction when opening a restaurant is to be something distinctively special.
The main menu in all restaurants is meat and fish dishes.
An essential step in creating a restaurant business is not only to hire a staff of experienced employees but also to think through the exclusivity of the establishment. Starting with its name. By the way, the entourage of the institution is also an essential factor. Be different from everyone else.
The restaurant’s menu offers the best Mexican meat, vegetables, and seafood dishes. But if you are from another country: Ukraine, Canada, Bulgaria, or France, you can add your flavor to the menu, noticeably diversifying it with national dishes. Thus you will differ significantly from others, and visitors will come to you just for your product.
You can also accentuate the drinks: a special kind of beer, cocktails, or wine.
If the institution is small, you can emphasize some show programs. Have themed parties with songs and dances. Since tourists come to relax, the simplest thing is songs, karaoke, for example. If you don’t have a concert podium, try something less flashy—for example, a pool table or darts.
When deciding to open a business in Mexico, in particular Cancun, you need to get to know the locals to understand what the best you can offer locals and tourists is to distinguish yourself from others to a great extent. It will be ideal for learning about the area using services from rent a car Cancun companies.