I first met Vincenzo at one of our Medellin Entrepreneur Society meetings where he gave a presentation about taxes for expats living abroad. Since a lot of us nomads and expats have difficulty figuring out the tax system (made even more difficult by our unusual lifestyles), I thought he would be a perfect fit for this series. Contact him and his company before the next tax filing deadline if you have any questions.
1. What made you want to come to Medellin? How long have you been living here?
I have been living in South America for 2 years, mainly in Buenos Aires, Argentina. I came to Medellin because I heard great things about the city and wanted to not only expand my client base but also explore a new Latin American city. After 2 months of living here, it’s a drastic change to Buenos Aires and a breath of fresh air (both literally and figuratively).
2. What kind of work did you do before coming here?
I am a CPA specializing in tax issues for US expatriates and non residents with US interests. I started the CPA firm a few years ago – www.onlinetaxman.com. I get my clients mainly through word-of-mouth referrals and internet marketing. It has gone extremely well and I have built a strong clientele base in both South America and Asia. With that, I have met a lot of interesting people who I now call friends and got to experience traveling throughout the world.
3. Tell us about the kind of business you have set up here. Do you work online or is it a brick-and-mortar business?
I work online as we are a virtual CPA firm. All work is done online via our CPA network that specializes in international tax issues. Our CPAs are located around the US and throughout the world, just like our clients!
4. What kind of challenges have you faced moving to Colombia and doing business here?
I think there is a level of uncertainty as is with all foreign countries (especially in Latin America). That being said, I think there is a lot of opportunity in Colombia and I see it having tremendous growth. I look forward to working with both expats and Colombians on their businesses and helping their needs.
5. What’s your favorite thing about living here?
I like the people and the quality of life. Medellin is a vibrant city with opportunities for Colombian and expat entrepreneurs alike. It has great weather, nice people with all the major advantages of a city without the sheer intensity like living in Buenos Aires or New York.
6. What advice can you offer those who want to move to Medellin and/or Colombia and start a business here?
From my perspective as a tax guy, the most important thing is to establish a residency here via a business visa to avoid US taxes up to $95,100. This money is essentially tax-free for being a US expat, however there are certain stipulations and requirements for being deemed an expat for tax purposes. That being said, its just another advantage of living abroad and pursuing these goals!
7. Where can we find out more about you and what you do?
Our website – www.onlinetaxman.com gives information not only about our company but important tax information for expats living abroad. We offer a free consultation about our services, answer questions about international tax issues and give a price quote.