How to Open a Business in Cozumel
Cozumel is an island in the Caribbean sea off the eastern cost of Mexico's Yucatan Peninsula. Cozumel is well known as a tourist destination. If you are in the tourism business, opening a business in Cozumel is a good idea since there are a lot of attractions for tourists in the Island. Best investment decisions include restaurants and hotels. When starting your business, you can get legal advice from a lawyer or incorporation company licensed by the Supreme Court of the State of Quintana Roo. Insist on having an English translation of the business documents, unless you are fluent in Spanish.
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Instructions
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Register the company name. Obtain the authorization to use the business name from the Ministry of Foreign Affairs (Secretaría de Relaciones Exteriores). You can submit at least three names for a name check. This will cost you MXN 705 and take an average of two days to complete.
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2
Sign the deed of incorporation before a notary public. You will need to prepare the deed of incorporation first before appearing before the notary public. The deed of incorporation outlines the business structure. This should be accompanied with the bylaws of the business and the business's charter. It will take one to two days for the notary public to issue the deed of incorporation. Notary fees vary from MXN 5000 to MXN 11,000. A notary public ((Notario Publico) is a lawyer or public official appointed by the Mexican state.
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Obtain a tax registration number (Registro Federal de Contribuyentes ). If the notary public has signed an agreement with the Ministry of Finance and Public Credit (Secretaría de Hacienda y Crédito Público) then he will also be able to issue you with a tax registration number when issuing you with the deed of incorporation. Note that it is a must that the same notary public who issued you a deed of incorporation should be the same one to issue you the tax registration number. Alternatively, you can obtain the tax registration number from the Ministry of Finance and Credit (Secretaría de Hacienda y Crédito Público). This will take two to seven days and is free.
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Register your deed of incorporation with the Public Register of Commerce. This process will take three days as you will be required to file the deed of incorporation and receive confirmation that it has been filed. It costs MXN 1520.
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Register with Mexican Social Security Institute (IMSS) and the National Workers' Housing Fund Institute (INFONAVIT). This will give you the authority to open retirement savings accounts for employees. This will take two to five days.
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Register with the tax administration in Quintana Roo (Q-Roo) (Secretaría de Finanzas del Gobierno del Distrito Federal). This will enable you to pay payroll tax. You will be required to also submit the business's postal code and the registration number of the business (See Reference 2).
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Issue a notice to the Quintana Roo (Q-Roo) local government that you are starting a business. This can be carried out online. The notice should state that you want to start business in Cozumel and should include your tax registration number.
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8
Register with the National Business Information Registry (Sistema de Information Empresarial, SIEM). The registration will be done under the category the business falls under. The cost of registration varies depending on the number of employees and the activity of the business. This is between MXN 100 to MXN 670.
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