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Set up a company in Mexico

Autor: Laura Ayala

Publicación: Jul 25, 2022

In our firm we advise foreign investors that want to set up a Company in Mexico without the need of traveling to the Country, this because we can use Apostille Powers of Attorney (so our team can sign on your behalf).

The company can be own 100% by foreign investors, you will need a minimum of two shareholders, individuals or corporations, the last one allowing creating a “subsidiary company” in the country.

If you want to set up your business in Mexico, you must consider these principal 8 steps:

  1. Request the name authorization to the ministry of economy.
  2. Articles of incorporation (if all shareholders are natural persons, they need to have RFC for Mexican citizen’s only).
  3. Legal representative (Is named in the articles of incorporation or a power of attorney can be granted).
  4. Proof of address. This is another important step in the constitution of a company in Mexico. You will need a local registered office to prove the existence of the company.
  5. Get an RFC: The RFC is the number of taxpayer identification of an individual or a Corporation in Mexico, the RFC is indispensable to perform economic activities in the Country. This can be obtained in the SAT offices threw your Mexican legal representative.
  6. Registration to the IMSS: The employers are obligated to enroll their employees to the IMSS and pay the social security contribution. Any person that executes a subordinated activity in change of salary is consider an employee and must be affiliated to the social security by the employer.
  7. Opening a bank account.
  8. Obtain the SAT electronic sign (e.firma ):Once you have the RFC you will be able to get your electronic sign,. With the e.firma you are going to be able to invoice and present your tax returns.

 

Setting up a business in Mexico could be a long process but In Tax ID we can help you with all this process to make it easier, if you have any doubts, please contact us to provide you further information.

If you want to set up a Company in Mexico we can help you.

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