With so many business opportunities in Mexico, why not set up shop on the beautiful shore of the Riviera Maya? Whether you’re planning a mega-corporation or a small boutique, it’s never been easier!
Starting a business in Mexico isn’t complicated. You simply need to do your homework. You’ll want to retain good legal counsel to make sure you comply with Mexican law, as well as an accountant to file the necessary reports to the Ministry De Hacienda (Mexican IRS).
You do not need to be a resident when starting a business in Mexico, but you will need an immigration visa if you’re planning to work at your new place of business. Applying for residency or non-resident visas can be done through a variety of Mexican consulates throughout the world or at the Secretaria de Gobernacion (Ministry of Interior). The process usually takes about 4 weeks.
With a great business idea and an even greater plan, the first step is to register your company with the Secretary of Foreign Relations (Secretaria de Relaciones Exteriores). Although gas and oil are off limits, almost any other type of business venture will be welcomed with few to no restrictions. You’ll need to make a stop at the Secretary of Finance and Public Credit (Secretaria de Hacienda y Credito Publico) to sign and submit an incorporation deed and to apply for a tax identification number.
Your next stop will be the Mexican Social Security Institute (Instituto Mexican del Seguro Social) to set up pensions for your employees, and you’ll also need to register for payroll taxes at the Secretary of Finance of the Federal District ( Secretaria de Finanzas del Gobierno del Distrito Federal).
Once incorporated, your new company will need a few municipal permits before you can open your doors for daily business. Be sure to let your local authorities know when you plan to do so. In most of the urban areas, you’ll need to apply for a variety of zoning permits.
Manufacturers are required to register an environmental impact statement with the Secretary of Environment and Natural Resources (Secretaria de Medio Ambiente y Recursos Naturales) to ensure compliance with local regulations. And, finally, if you’re selling food or drink, you’ll need a separate health license from the municipal authority and the Health Secretary (Secretaria de Salud).
Start Your Business in Mexico Today!
Starting a business in Mexico is relatively painless, and the opportunity for growth is endless. As long as you do your homework and follow the rules, you’ll be good to go.