Laura Van Gompel – August 31st 2021 – A foreign company that wishes to start business in Mexico can do so by opening a branch or signing a partnership/joint venture with a local company. However, the foreign investor can also decide to constitute a new company in Mexico, i.e. a legal entity pursuant to Mexican law. This entails several challenges and certain knowledge of the Mexican system and practice.
Here you can find some breve guidelines on the matter. For more detailed information, our local council shall gladly assist you.
- Grant a power of attorney (POA): in favor of your legal representative. This will allow him or her to take all necessary steps, in your name and on your behalf, in order to open and register an operational company.
- Get the Ministry of Foreign Affairs’ authorization: for your company’s name.
- Create the incorporation deed: before a public notary which contains, the constitutive act and the company’s articles of association (with the necessary rules on board members, powers of attorney, general meetings, etc.).
- Obtain the company’s RFC (tax ID number): at the Secretary of Tax Administration and open a bank account.
- Register before local authorities: such as the Public Registry of Property and Commerce and the Mexican Institute for Social Security.