Nice update! Good luck on getting your solo in soon, don't give up! Also interesting about starting the business and bank account down there. I imagine its same story everywhere, takes a long time to get rolling. Its one of the few benefits of the states, want to open a business? Hang a shingle!
Thanks! Yes, that's one nice thing about the states - easy to get started building a business. It's not too difficult to set up a sole proprietorship here but, the insane part, is that you're required to sign up to 4 separate agencies (I can't remember them all) in order to be fully legal. Not only that, but you get taxed on 4 separate occasions - and that's if you're a small business making less than 600k a year. Anything over that has at least 5 different taxes. Uruguay, unfortunately, is not for entrepreneurs.
Max.........if you have citizenship in the US, consult an attorney in the US about setting up a corporation here. You will have to live here some of the time, however. I believe it is at least 6 months, and they want proof. They quibble about a few days, even. Maybe get a partner here, and do not register in any of the states that are complicated, or have too much welfare going out. This eliminates DC, California, Hawaii, and the states that tax things like social security (you must pay into it), and "independent contractors". Some of the states in the US have no income tax, but most do. Get a good attorney, if you do this ,that deals in international law. Stay well!!!!!
Thanks! I live right now in Spain but things are getting complicated, and I´m from Argentina, but Uruguay is better when talking about taxes and safety. Best!
I recommend prioritizing your Spanish language learning. It will help you do business with future customers, and your relationship with consultants like your flight instructors. Don't get frustrated by Uruguay. As you know, there is a general mentality of go slow and take it easy, which has it's benefits, and a general mentality of negotiating to benefit yourself first with reciprocity being neglected. There is also a general mentality of class conflict as well which limits people.
Great concept. Thought you might get a kick out of my essay in the WSJ that covers similar ground:
https://www.wsj.com/lifestyle/what-dropping-out-of-college-taught-me-about-finding-my-calling-ee839158?st=LFFoRE&reflink=desktopwebshare_permalink
Your essay was fantastic.
Thanks! I'm excited about your adventures! Looking forward to reading more !
Doug Casey pointed out that essay to me the other day. He even left a comment.
Great comment!
Nice update! Good luck on getting your solo in soon, don't give up! Also interesting about starting the business and bank account down there. I imagine its same story everywhere, takes a long time to get rolling. Its one of the few benefits of the states, want to open a business? Hang a shingle!
Thanks! Yes, that's one nice thing about the states - easy to get started building a business. It's not too difficult to set up a sole proprietorship here but, the insane part, is that you're required to sign up to 4 separate agencies (I can't remember them all) in order to be fully legal. Not only that, but you get taxed on 4 separate occasions - and that's if you're a small business making less than 600k a year. Anything over that has at least 5 different taxes. Uruguay, unfortunately, is not for entrepreneurs.
I really enjoy the thinking process that comes alive on your walk. Your reflections are clear and intentional — impressive work. Keep going.
that instructor pilot needs to stop yapping! you tell him Max! you've got this!
Max.........if you have citizenship in the US, consult an attorney in the US about setting up a corporation here. You will have to live here some of the time, however. I believe it is at least 6 months, and they want proof. They quibble about a few days, even. Maybe get a partner here, and do not register in any of the states that are complicated, or have too much welfare going out. This eliminates DC, California, Hawaii, and the states that tax things like social security (you must pay into it), and "independent contractors". Some of the states in the US have no income tax, but most do. Get a good attorney, if you do this ,that deals in international law. Stay well!!!!!
Thanks! Why are you in Uruguay? Only business or because it´s a free country, low taxes, great place to live? Best
I’m in Uruguay because my family moved here 4 years ago — when I was 16. We left the U.S. to live here.
And you recommend it? thanks!
Yes, it’s a good place. Nice people, peaceful, pretty…
Thanks! I live right now in Spain but things are getting complicated, and I´m from Argentina, but Uruguay is better when talking about taxes and safety. Best!
I recommend prioritizing your Spanish language learning. It will help you do business with future customers, and your relationship with consultants like your flight instructors. Don't get frustrated by Uruguay. As you know, there is a general mentality of go slow and take it easy, which has it's benefits, and a general mentality of negotiating to benefit yourself first with reciprocity being neglected. There is also a general mentality of class conflict as well which limits people.