Opening a business in Mexico City as a foreigner is possible but requires some help.
Registering a business in Mexico City is not difficult, but it is time consuming. If you don't hire an attorney and a Mexican accountant, you may have to return to government offices several times before you have all the right documents, find the right government official and have the right form filled out the right way. When you hire a Mexico City attorney, he can help prioritize the registrations and get them done quickly. The entire process takes about 30 days when done correctly.
Instructions
1. Obtain your FM3 for business activities from Mexican Immigration in Mexico City. You must have this long-term, non-immigrant visa before you start your business registration. You will need your passport, birth certificate, and proof of previous income to qualify for this type of visa.
2. Consider the name of your new business and get authorization for using the name from the Ministry of Foreign Affairs. This takes approximately two days to complete, but if your Spanish is not excellent and you are not used to dealing with Mexican bureaucracy you may want to have an attorney complete this and the following steps for you.
3. Determine the way you want to register the business. You can register it as a sole proprietor or as a limited corporation. Contact a Mexico City attorney whom you can ask about the best way to register your business. Contract his services to register your business and draw up the deed of incorporation, which needs to be presented before one of the municipal appointed attorneys (Notario Publico) to be verified. This process usually takes about 30 days and as of 2010 has an approximate cost of $1,000. Once this is done, a tax registration number is assigned to the business.
4. Register the business with the Public Register of Commerce, and the Ministry of Finance and Credit (Hacienda y Credito Publico). This process takes approximately a week and the fee varies depending on the state, but as of 2010 was approximately $100. The Mexican accountant or bookkeeper you choose can process both of these applications. He is the person who deals with the Ministry of Finance and Registrar of Commerce on a monthly basis in regards to your business.
5. Go to the Mexican Social Security institute and register yourself as an employee and anyone else you have as an employee. There is no charge to register the business, but you will need to pay the monthly fee, which covers employees for health insurance.
Tags: Mexico City, your business, about days, business Mexico City, City attorney
