Self-employed in Honduras

Honduras is the second poorest nation in Central America, but its government has been pumping up its efforts to drive its economy. With the US being the largest trading partner of Honduras, the path to economic stability is clear, although it may be a long one. Still, many expatriates, especially Americans, are considering doing business here.

There are procedures and necessary documents to be processed in order to put up a business in Honduras. Opening a Honduran bank account is one. A company has to have a local bank account for registration, published in a Honduran newspaper, to be possible. There will be a few government agencies where a business must be registered in Honduras - Ministry of Finance, Social Fund for Housing, Hard Labor Training Institute and the Social Security Institute. Notarization of the business is next, after which a business tax identification code may be obtained from the Ministry of Finance. An accounting book and minute book should are two other requirements, along with an operational permit to be secured from the local municipality where the business will operate.

Patience is needed if one wishes to have a business in Honduras with all the paper work and documents needed to be able to run a business in this country. But as long as everything has been submitted and all requirements are met, business is always possible.