As of 2022, new obligations were introduced aimed at the information and documentation that we must protect and, where appropriate, deliver to the authorities related to the "controlling beneficiaries", such as identifications, information on the spouses, proof of address, among other documentation and information.

In Mexico, the law allows companies to be incorporated by foreign partners or shareholders, so in this article we will analyze whether said documents and information must be translated, apostilled or legalized in order to comply with the controlling beneficiary provisions.

What information and/or documents must we protect from the BC as part of the accounting?

Rule 2.8.1.22 of Miscellaneous Tax Resolution 2022 indicates that the following information regarding the controlling beneficiary, among others, must be included as part of the accounting:

1. Full names and surnames, which must correspond to the official document with which the identity has been accredited.
2. Date of Birth. When applicable, date of death.
3.  Sex.
4.  Country of origin and nationality. If you have more than one, identify them all.
5.  CURP or its equivalent, in the case of other countries or jurisdictions.
6. Key in the RFC or tax identification number, or its equivalent, if you are a resident abroad, for tax purposes.
7.  Marital status, with identification of the spouse and property regime, or identification of the concubine or concubine, if applicable.
8.  Contact information: email and telephone numbers.
9. Private address and fiscal address.

Said information regarding the Controlling Beneficiary must be collected and safeguarded even when they are residents abroad.

Should we translate the documents?

In accordance with the first paragraph of article 32-b-ter of the Federal Tax Code, it establishes that the information and documentation to be obtained from the Controlling Beneficiary is part of the accounting, so all information of the controlling beneficiary residing abroad must comply with the requirement of being translated into Spanish.

However, rule 2.8.12 states that:

“Taxpayers may keep the documentation that integrates their accounts […] in a language other than Spanish. In this case, the tax authorities may request its translation by an expert translator authorized by the competent authority for this purpose.

From what we can interpret that we can keep the information in its original language, however, we will be obliged to translate it in case the authority requires it.

Should these documents be apostilled or legalized?

Thesis XIX.1o. J/7 “FOREIGN PUBLIC DOCUMENTS, LEGALIZATION OF THE, establishes that:

“The only formality that is required for the probative effectiveness of said instruments is that they contain the corresponding 'apostille', placed by the competent authority of the State from which that instrument emanates. Then, then, if a document with the noted characteristic lacks said formality, it is incontrovertible that it cannot be granted any probative value, and therefore it is not apt to justify what is intended with it. “

Derived from the above, we interpret that the documents related to the controlling beneficiary residing abroad must be apostilled to have effect before the authorities.

TAX ID MEXICO is a firm specialized in advising foreign investment companies in the country. Contact us to learn more about Mexican regulations.

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