frankysfree
8/1/2013 12:40 EST
Me + my wife are setting ourselves up to permanently reside in El Salvador by 2016. My wifes father + mother were both born and raised there, so she shouldn't have a problem getting her DUI. Currently i own a successful business here in the US and am positioning the business to sell within the next 3 years with the plan of opening up a business there. We own property in Izalco already but i would need to build a structure for the business.
I have not been able to find a direct answer to my question about taxes. How does the tax system work since, as i understand it, i will still have to pay taxes to the US government even if i have permanent residency in another country. What is the US tax rate and does that mean i would be double taxed, once by El Salvador + then again by the United States?
Second, does anyone know of any private english speaking schools near Izalco? For obvious reasons i want to put my son, who will be 6 when we move, into a private school.
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pato23
From: El Salvador
8/4/2013 19:53 EST
Get in contact with the US Embassy's Business (Investing in El Salvador) section http://sansalvador.usembassy.gov/investing-in-el-salvador.html As I understand it US Citizens abroad get a tax exemption of some $80,000 It is also best for you to travel here before 2016 and contact and connect with, low profile, some persons in the same business as you are, El Salvador is a small country, and those who are not related to one another know one another, so 'cuello' or cinnections are very important... the nearest English speaking International School to Izalco is in Santa Ana, all the others are located in the San Salvador Metropolitan Area a hour to 90 minutes each way...Check into the Zona Franca or Free Zone if you are building a Manufacturing plant, there you are Free of El Salvadoran taxes. Buena Suerte,
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frankysfree
8/5/2013 10:35 EST
Thanks for the information. I will check with the embassy as you say. We have another trip planned in March of next year.
Santa Ana is a little closer than San Salvador so i will speak with the private school there when i go back next year. I was hoping there would be one closer, like Sonsonate, but i suppose if you live away from the capital you have to deal with not being close to anything.
The business i was looking into opening is a motorcycle dealership. I own a successful one here in the US and think i could open a successful one in El Salvador with the boom in motorcycles right now.
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pato23
From: El Salvador
8/5/2013 16:28 EST
Agregarse con https://www.facebook.com/pages/Club-Bajaj-El-Salvador/138008892915081
entonces https://www.facebook.com/bmwmotoclub entonces https://www.facebook.com/cuervos.sv you can ask members general questions, all of your Motorcycle distributors and retailers can be found in Spanish or on English language pages of Paginas Amarillas http://www.paginasamarillas.com.sv/busqueda/motocicletas
There are no Harley Davidsons here in ES, too bulky for the narrow roads and San Salvador, Santa Ana, Sonsonate and San Miguel are heavily congested, drivers, especially Buseros are lunatics on the road. a Friend from US recently sold his motorcycycle after being 'swiped' three times and got a small car. However there are many expereiced riders who have no problems in city traffic and Pizza Hut and other Fast Food places have fleets of Motorcycle Messengers. The International School in Santa Ana is First Class, Sonsonate is hot dirty Coastal City with few ex pats, there are 4 excellent International English/bi lingual K to 12 Accredited Schools in San Salvador. Send me a pm before you come perhaps we can meet and I can give you some pointers, have a beautiful young customs Lawyer friend as well. cordial saludos.
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tholt01
8/6/2013 21:16 EST
There are SOME Harley's and there is even a real Harley Davidson "dealer" in the area by Zona Rosa
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frankysfree
8/8/2013 19:47 EST
thanks for the info. Yeah, I know what you mean by the traffic congestion and smaller bikes. I haven't seen any Harleys on the roads but lots of smaller dual sport bikes and dirt bikes. The one thing I don't like is the fact there aren't many sanctioned motorcycle racing events. I am used to the US where there are road racing, drag racing, motocross, etc. and I like to race my street bike. I did talk to a younger guy who was working on motorcycles out of his house near ours in Izalco and he had a newer, fairly expensive KTM dirt bike there and he said they do some kind of desert style dirt bike races close by. Ill have to check into that.
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