What do you need to invest in here?
Are you thinking about establishing business in Mexico, but you don’t really know where to start?
This is a little overview of the steps you need to invest in our Country. First of all you must get a Visa, the National Immigration Institute is the organism in charge of this process.
“A visa is required by foreign citizens who enter into Mexico with the purpose of looking for investment options, making an investment or supervising it, representing foreign companies or doing commercial transactions. The General Law on Population (LGP) and its By-laws (RLGP) regulate this matter in Mexico” (ProMéxico 2015)
All foreign legal entities or not governed by corporate laws who intend to perform activities or to set up in Mexico must regulate and register their business, they shall obtain authorization from the Ministry of Economy. All businesses intending to set up in here need to be oriented to the Foreign Invest Law that establishes the several subjects of registration before National Registry of Foreign Investment (NREN) which is the area of the Federal Government that regulates the enrollment of foreign investors who come to our Country.
Apart from the registration, you must complete some other regulations before different Ministries and Institutions:
-Procedures before the Ministry of Foreign Affairs
-Property and Commerce Public Registry, Commercial Notary and Public Notary
-Procedures before the Mexican Social Security Institute (IMSS)
-Procedures before the National Worker’s Housing Fund (INFONAVIT)
Some other specific procedures depending on the kind of business are:
-Procedures before the Ministry of Health (SS): In those activities where the Notice of Functioning is required)
-Procedures before the Ministry of Environment (SEMARNAT): When the Notice of registration as a company that produces hazardous waste is specified in the activities carried out by the company.
-Three government levels: federal, state and municipal procedures: The opening of new businesses involves the three government levels.
All entities and individuals governed by the legislation of another country shall be deemed foreign nationals for taxation purposes before the Responsible Authority: Tax Administration Service at the Ministry of Treasure.
ScreenIT is here to help you
That was just a compilation of the general steps needed to establish business in Mexico, which by …reading sounds very easy, unfortunately it may turn a little difficult to actually complete all these steps. Here is when ScreenIT´s mission starts.
Image: Mexican Business Web
Through our services, Staff Leasing and Virtual Captive, we offer a highly effective way of starting operations nearshore without the due diligence, costs, and long-term commitments required to start your own Mexico-based corporation.
ScreenIT can offer a Build-Operate-Transfer (BOT) arrangement in which we will run through two main phases: ScreenIT will build and operate your nearshore operation for a certain period of time, after which we can transfer the entire operation to your own Mexico-based corporation.
After the transfer has been completed, you may opt to still use any of our services and assets.
We are always ready and willing to help you leveraging your IT business!
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