STARTING THE PROCESS

Registration
Property
Corporate
Invest
México
Escrito por: C.P.F. Luis Javier Arreguin30/07/2019

__In order to establish a business in Mexico, the best option is to hire an accountant or an attorney, who will be able to guide the company through the legal process and help determine the best corporate governance structure, the correct mexican tax scheme and follow all the legal requerments and the accounting rules for incorporate the new company in Mexico. __

Once the company type and ownership issues have been resolved, you will need to follow these steps:

A. Registering property

This is a federal procedure that must be done by the employer to choose and reserve a name or business name for your business. You must select a corporate name and register before the Mexican Ministry of Economy (Secretaria de Economía).

B.Notice of use of denomination or corporate name and elaboration of Deed of Incorporation by Mexican Public Notary

This process consists in the formalization of the company's bylaws by the notary. Once the authorization of the name of the company has been received, the notary proceeds to notify the use of the company name to the Ministry of Economy (Secretaria de Economía) and writes the Deed of Incorporation in order to be duly signed by the partners. Founding members must submit their personal information, official IDs and tax identification numbers.

An attorney and/or accountant can help you prepare these documents that spell out corporate governance, corporate purpose, domicile, capital stock, the legal representative, management powers and special provisions for liquidation. In addition, you will need to decide how capital will be subscribed, how the Board of Directors and officers will be appointed and what powers will be specifically granted to individuals.

In order to make known that the company is legally constituted, registered companies have to present the Deed of Incorporation before the Property and Commerce Public Authority (Registro Público de la Propiedad y el Comercio en México).

C.Registration of the Deed of Incorporation before Mexico’s Property and Commerce Public Authority (Registro Público de la Propiedad)

Once the notary and the stockholders sign the official deed of incorporation, the Public Notarya is in charge of carrying out the registration of the deed of Incorporation before Mexico’s Property and Commerce Public Authority (Registro Público de la Propiedad), either in person or through electronic means, it could take a couple of days.

D.Registration of the company in the Federal Taxpayers Registry (RFC)

After the registration of the Deed of Incorporation before Property and Commerce Public Authority, the legal representative of the company have to register the company before the Federal Taxpayer’s Registry (Registro Federal de Contribuyentes, RFC) at the Mexican Tax Administration Service (Servicio de

Administración Tributaria, SAT). The RFC (Tax ID) is necessary for all tax and accounting records, and without RFC the company can neither operate, nor openbank accounts, nor import and export.

E.Request the Digital Seal Certificate to the Federal Taxpayers Registry (RFC) in order to issue tax invoices

According to the Mexican Tax Regulation, all mexican taxpayers are required to use the Digital Tax Receipt via Internet (Comprobante Fiscal Digital por Internet, CFDI) in their business relations . Each taxpayer have to request to SAT the Digital Seal Certificate (CSD or Certificado de Sello Digital) in order to generate the CFDI (Oficial Electronical Invoice). Since 2014, paper invoices are not valid for the SAT, In other words, taxpayers must store their CFDI (electronical invoice) in XML format and not in paper.

F.Procedures before the Mexican Social Security Institute (IMSS)

This is a federal procedure that is done to discharge at least one worker in Social Security. Information available in the agency, by phone and on their website: http://www.imss.gob.mx/

The legal representative must present the Format AFIL02. A pre-registration can be made online and then go to the administrative sub-delegation of the IMSS where the employer's registration is obtained. Upon completion of this procedure, the companies will be automatically registered in the National Worker's Housing Fund and the Retirement Savings System.

G.Registration on Mexico's Importers' and Exporter Registry

If your company will be doing any foreign trade, such as importing raw materials, components or finished products, you have to register before the Mexico's Importers' and Exporter Registry (Padrón de Importadores). This step will take approximately 20 to 30 working days, and the whole procedure is handled through internet.

H.Foreign Investment Registry

Registration before the Foreign Investment Registry (Registro Nacional de Inversiones Extranjeras) is normally handled by your accountant, who will need information about your shareholders, domicile and company directors.

Additional Required Registrations

  • Procedures before the Ministry of Health (SS)
  • Procedures before the Ministry of Environment (SEMARNAT)
  • Three government levels: federal, state and municipal procedures

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