Business opportunities in Mexico seem bustling in the present world trade market. When looking for trade opportunities in Latin nations, Mexica appears at the top of the list. It is the second-largest economy in Latin America.
This country is also the leading trade partner of the United States. They make 80% of their export dealings with the USA. Experts also forecasted that this nation can be one at the top 5 ranks of largest economies by 2050. When these are the facts, business opportunities in Mexico sounds pretty optimistic.
Although opportunities are available, there are several aspects entrepreneurs must understand first. They must keep in mind the business setup process, costs and license requirements as well. For convenience, here we have discussed the typical business opportunities in Mexico.
To enjoy opportunities, you have to carry out a legal business setup process. But before that, you must select a corporate entity type in particular. Mexico follows 5 business entity types:
Upon selecting the business type, the next step is Registration of a company in Mexico. Let's have a look at the steps of company incorporation in Mexico.
Following are the steps of the Registration of a company process in Mexico:
The table below shows the cost structure for Limited Liability business incorporation in Mexico:
| Business Incorporation step | Cost in pesos |
| Capital requirements | $3,000 |
| Obtaining tax Registration number (Registration fees) | $14,899 |
| Notary fees | $10,500 |
| Registration with the Mexican Social Security Institute | None |
| Registration with the local tax administration department | None |
| Registration with National Business Information Registry | $100 – $670 |
The table here shows the cost structure for Limited Liability stock corporation setup in Mexico:
| Business Incorporation step | Cost in pesos |
| Capital requirements | $50,000 |
| Obtaining tax Registration number (Registration fees) | $14,899 |
| Notary fees | $10,500 |
| Registration with the Mexican Social Security Institute | None |
| Registration with the local tax administration department | None |
| Registration with National Business Information Registry | $100 – $670 |
A fixed time frame has to be considered when undertaking each business set up process in Mexico. The time frame has been separated against each Registration tasks in the table below:
Timeline for Limited Liability Stock Corporation Registration
| Business Registration process | Time requirements for completion |
| Online name and company incorporation Registration | 1 day |
| Signing up deed of incorporation and obtaining tax registry number. | 2 days |
| Registration with the IMSS | 1 days |
| Registration with the local tax administration | 1 day |
| Delegación or Notifying the local government | 1 day |
| Registration with the SIEM | 1 day |
Timeline for Limited Liability business Registration
| Business Registration process | Time requirements for completion |
| Online name and company incorporation Registration | 1 day |
| Obtaining a tax registry number (RFC). | 2 days |
| Registration with the IMSS | 1 days |
| Registration with the local tax administration | 1 day |
| Notifying the local government | 1 day |
| Registration with the SIEM | 1 day |
Business opportunities in Mexico demand several licenses and permits for conducting corporate functionalities. Without a proper license, a company faces legal issues. So, when registered a company, collecting licenses should be the next priority. Following are the licenses and approvals needed in a typical business set up in Mexico:
By now you must be aware of the fact that there are lots of business opportunities in Mexico for many investors. Let us find out top business sectors with opportunities in this nation.
What are some of the top companies in Mexico?
They are many companies who are doing great business in Mexico. Following are the top 10 companies running in this country:
Is Mexico a good destination to setup a company?
Mexico has favorable climate to setup a company. Currently it is the biggest exporter to its neighboring nation USA. By 2050 it is estimated to reach the top 5 biggest economy in the world. It is one of the fastest growing economy. All these facts ensure idol condition to set up companies in this country.
What are the best business fields to start in Mexico?
Following are the businesses fields an investor can try in Mexico:
What are the steps of business Registration in Mexico?
Following are the brief business setup steps in Mexico:
What are the risks of registering a company in Mexico?
There are few risk factors that you must count in when setting up a business in Mexico. Below is the list of possible risk factors:
Related Articles:
Setting up a limited liability company in USA
Business structure in the USA - Related with types of business in Mexico
