Mexico is a part of the North American Free Trade Area, it develops rapidly and is rightly considered as one of the most highly developed countries in the region. It is a member of "The Big Latin American Three" (like Brazil and Argentina). More than 20,000 external companies invest in its economy, and an establishment of a company in Mexico can bring a lot of benefits to the founders. Here, foreign businessmen are provided with convenient business conditions - it is possible to start a business in almost any industry, except for the spheres stipulated in the legislation.
So, only the state can work in the field of oil, nuclear and electric power, postal services, helicopter surveillance, and domestic land transportation of passengers and cargo, credit and broadcasting services are available only to citizens and companies of the country. In other respects, the Mexican economy is 100% open to foreign investors - tourism, hotel business, and trade are of particular interest. You can start a business without the participation of local co-founders, but all the company's founders must be in the country during registration.
It can not be said that Mexico is offshore, as it has rather strict rules for doing business. All legal entities in Mexico are subject to tax at a rate of 30%. The companies are required:
- to maintain records and keep accounting - there are many checks and they are serious;
- every year to submit reports (statistics and finances) certified by an auditor;
- every year to transfer to the Treasury a 1.8 percent share of the value of the assets, even if there was no profit (it needs to pay 30% and 10% from the profit for corporations);
- at the company's establishment, to register it to at least two founders - one of them can perform the director's functions.
Types of companies and their registration in Mexico
Entrepreneurs-foreigners have the right to create companies in one of the forms:
- Private enterprise. The simplest form, convenient for professionals providing legal, accounting and other services, without the requirements for a minimum capital, but with personal responsibility.
- Joint-Stock Company with limited liability. Sociedad Anónima, SA de CV is the most often used in the country, since the obligations are limited only by the debts of the organization. A capital from 50 thousand pesos (about 3900 US dollars) is required for the establishment, the fifth part must be paid immediately. An expert-auditor will be required for the operation.
- Limited Liability Company. It is convenient by the fact that the minimum capital equals only 3 thousand pesos and there is no a need to hire an auditor. You can increase the capital in the process of work.
- A branch of a foreign company (you will need a permission of the Commission regulating investments), a corporation or a cooperative.
Employees of "Prifinance" company will help you to choose the most suitable form and collect documentation for the establishment of a company in Mexico We will undertake the organizational efforts and carry out all the procedures. After a choosing of the company’s type, it is necessary to fix the name by applying to the Ministry of Foreign Affairs and having signed the contract. You will also need:
- to provide identity documents and detailed business information;
- to provide a charter, a plan for the future, a permission to establish a company with foreign capital;
- to appoint at least one director.
The company's registration in Mexico takes about four to five weeks. After that, the owners are issued with documents, and they can start the activities - it will be controlled by regional and federal inspection authorities.