Yesterday day I had two phone calls with immigration lawyers in Uruguay to begin discussing how good or bad I have done in getting my documents and plan together. Part of this journey has always been about seeing just how much I could do on my own, and what I would need help with. The idea being to keep the costs as low as possible. Then I spoke to Aldo Netto, and got an education. Aldo will be my immigration attorney in this endeavor. He got me looking in a few new directions, but most specifically related to how I prove to Uruguay that I have the money to do this without becoming a leech on their social safety net.
As Aldo shared, just having the money in the bank and apostilling those bank statements would not be enough. After some brainstorming together we decided that the easiest and simplest way would be to form an LLC. Let me explain, because this one will melt your brain.
In order to get my digital nomad visa leading to permanent residency, I need to show that I have income. Even having a lump sum from a home sale isn’t good enough. The Uruguayan government likes consistency not quantity. That means a contract with a company that states I will be paid on the reg. I would have to formally incorporate Any Q Will Do as a business with myself as the sole owner and employee.
To do that, I would need to be strategic on where I incorporate to avoid taxes and ridiculous annual filing fees. Tennessee would cost me over $500 a year and required me to make annual filings with the government. Yeah, no thanks. New Mexico however lets me pay just $50 bucks and hire a registered agent, $35, and NM doesn’t require an annual filing as long as I am the sole employee. So yeah…..Any Q Will Do is now a formal business entity operating worldwide with legal representation in New Mexico and with a single employee living in Nashville.
Now the company will write me a contract for a specific amount of money each month in return for me working for Any Q Will Do and have an annual automatic renewal. Once the house sells, the equity goes into the business account and my contract will begin. Uruguay gets their warm fuzzy funded feeling, and I get a little more protection with Any Q Will Do legally standing between me and whatever the company does. All in 85 bucks and a few more apostilles to complete. Now I return to the waiting game to sell this damn house.
Ya gotta give me some credit for creativity!
Q is a meat Popsicle living in Nashville with hopes and dreams of running away to Uruguay to retire earlier than all his friends. Skilled in the witchcraft of not giving a damn about the Jones’ and filled with a did it or damn it mentality. His thoughts are his own, and he is no role model.
