To get your Mexican business up and running, you’ll need to follow some rules and regulations.
The steps required
Detailed instructions for setting up a company in Mexico are provided here:
Identify the business structure
Choose the legal structure of the company. Both the SA and the SRL are the most popular forms of legal entity in Mexico. Both the SA and the SRL are legal entities that function similarly to corporations and limited liability companies.
Select a title for your company
Select a unique name that stands out from the rest. Confirm to see if it is being used by any other Mexican business. The Ministry of Economy (SE) or the National Registry of Foreign Investments (RNIE) can be consulted to determine whether or not the desired name is already in use.
Choose a legal representative
Make up your mind about who will take the lead of the company in official matters and get that person made the business’s legal representative. This person must have Mexican citizenship or permanent residency in the country.
Write the rules for your business
Create corporate bylaws that spell out the company’s operating norms and policies. Bylaws should detail how the organization is structured, how shares are allocated, how decisions are made, and more.
Acquire an electronic signature by
You should visit the Tax Administration Service (SAT) to get an electronic signature certificate (e.firma). For online processes like tax filing, this certificate is required.
Join the Registro Pblico de Comercio (Public Registry of Business)
The state’s Public Registry of Commerce is the place to go to officially establish your company’s presence there. Please present the bylaws, identity, and evidence of where you’re living for the business’s official representative, as well as any other forms that may be required.
Acquire a Registration for Federal Taxpayers (RFC)
Put in an application to join the Federal Taxpayer Registry (Registro Federal de Contribuyentes). The ability to send invoices, pay taxes, and fulfil other monetary responsibilities is crucial to any business, and this registration is where you may do just that.
Register for social security
Workers should be enrolled with the Mexican Social Security Institute (IMSS) for social security purposes. To adhere to labour rules and offer your workers social security advantages, you must enrol as an employer with the necessary authorities.
Acquire licenses and permits
Acquire all the licenses and permits you find necessary to run your business legally. This may include documentation with state and federal agencies. Learn what is needed of you in your field, and act accordingly. If you have workers, you must also enrol with the Mexican Institute of Social Security (IMSS) to provide for their social security, medical care, and other related advantages.
Register with the National Registry of Foreign Investments (RNIE)
If your business has alien investors or funding, you should enrol with the National Registry of Foreign Investments (RNIE). Businesses with international investment must register with the provincial government.
Register with the Tax Administration Service (SAT)
To get a taxpayer identification number (RFC), enrol for value-added tax (IVA), and register for income tax (ISR), you must first register with the Tax Administration Service (SAT).
Duration to register a business
Registration in Mexico can take from a few days to a few weeks, this will depend on several factors including how quickly the official process your paperwork and how thorough your paperwork is. The time it takes to complete registration often ranges from a couple of weeks to several months. Timelines for common procedures are outlined here.
You may also find these articles helpful
Types of legal business structures in Mexico
Registering stock corporation in Mexico – full guide
