Corporate & Business Law in Cozumel
Business formation, contracts, mergers, acquisitions and corporate legal services
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Frequently Asked Questions
Can foreigners own businesses in Cozumel?
Yes, foreigners can own 100% of most service businesses including restaurants, tour companies, vacation rental management, and professional services. Restrictions exist for certain sectors. An LLC (Sociedad de Responsabilidad Limitada) is most common structure. Your business lawyer guides you through formation, permits, and compliance requirements specific to your industry.
Do I need to be a resident to start a business?
No, but temporary or permanent residency with work authorization makes operations easier. Tourist visas prohibit work. Many foreign business owners obtain residency first. Some Mexicans form companies with foreigners as silent partners, though this has legal risks. Consult with both immigration and business lawyers for proper structure.
How long does it take to form a company?
LLC formation in Mexico takes 4-8 weeks including name reservation, notario public deed signing, RFC (tax ID) registration, and business permits. Your lawyer coordinates all steps. Starting a sole proprietorship is faster (2-3 weeks). Factor additional time for industry-specific permits like tourism or food service licenses.
What are ongoing legal requirements for my business?
Monthly SAT tax filings (through accountant), annual tax returns, maintaining corporate records and minutes, IMSS (social security) registration for employees, municipal business license renewals, and industry-specific compliance. Many businesses use monthly legal/accounting retainer services ($5,000-15,000 MXN) to ensure compliance and avoid penalties.
Can my business lawyer help with employee contracts?
Yes, business lawyers draft employment contracts compliant with Mexican labor law, independent contractor agreements, non-compete clauses, and termination procedures. Mexican labor law strongly favors employees - proper contracts and procedures prevent costly disputes. Cost: $2,000-5,000 MXN per contract depending on complexity.
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