6 steps to bring your money back to Mexico from abroad
Do you have money abroad, but would you like to manage it from Mexico and get acquainted with your tax obligations? Hurry up! This is your chance to do it and time runs out.
This year, the government gave some benefits to people who bring resources back to Mexico and allocate it to certain types of charitable investments for the country.
Among them, are the investments you make through a brokerage house or credit institutions, land acquisition, among others.
The people who choose any of these options will get the benefit of paying a reduced rate of 8% of ISR on the amount of the resources that are returned or on the returns and exchange gains generated by the capital (instead of a rate up to 35%), as long as the investments are maintained for a period of two years.
But how to do it? Do not break your head, GBMfondos can help you.
Find out about what investment alternatives you have through which you can bring your money to Mexico.
Contact a GBMfondos advisor who will guide you on the process to open an account in Grupo Bursátil Mexicano, a brokerage house with more than 35 years in the market. It is very important that, from your first contact, you let the advisor know that you want to enter the Capital Repatriation scheme, so you can help to open an account that meets the requirements to obtain the tax benefit.
Open your account and transfer your resources from your accounts abroad to your account in Mexico. The date of entry of resources into the account in Mexico is limited to October 19, 2017.
After your deposit, you have 15 calendar days to declare the return of those resources before the SAT and pay the corresponding tax. Contact a tax advisor in Mexico who can help you find out about the SAT and follow up on your case.
You can submit a single ‘Notice of destination of income returned to the country’ even when dealing with various operations (presenting a declaration of payment for each of them). Your tax advisor can help you in that.
Keep for your support: the documentation that shows that the resources in question were received from abroad, the tax payments that you have made, the vouchers of the deposits or investments made in the national territory and vouchers of your declarations and notices for a period five years counted from the date of payment of the tax.