Requirements to Create a Business: Documents, Costs and MORE

If you are interested in entering the business field, in this article we will highlight all the information you must know to start a business, such as what are the Requirements to create a Company in Mexico. It offers a great variety of alternatives to constitute it, according to its objectives and socioeconomic benefits.

A company is an industrial or commercial entity, a basic economic unit and it operates in the production process.

We invite you to continue reading. In Mexico, Requirements to create a Company, are explained below.

What are the Requirements to Create a Company in Mexico?

Requirements to create a company: Official IDs

If he resides in that country or abroad, the person has to prove that he belongs to a company. That is why, for Mexican citizens or those who are naturalized, the document of the. INE or IFE . Or, failing that, you can ask for another document, either a passport or driver’s license.

In the event that the citizen has the residence temporary or permanent, they must have an immigration certificate. In addition to the passport of your country of birth or driver’s license that is issued by Mexican officials.

Requirements to create a company: proof of domicile

Verify through a receipt, the residence of the partners. Either of the basic services.

In the case of foreigners, the same applies, having proof of your home. If the receipt does not bear the name of the partner, a demonstration contract must be made.

Requirements to create a company: RFC

The Federal Taxpayer Registry is essential to enter this business, citizens must supply the RFC of the partners as homoclave. For foreigners this requirement does not need to do so.

Requirements to create a company: Unique Population Registry Code

For Mexicans who reside in that country, they must request the curp, as another form of identification. For foreigners this requirement does not need to do so.

Society checklist

It is essential that partners complete a «check list»with the data referring to the company such as:

  • Identification of the company.
  • Information regarding the partners such as: age, place of birth, where they live, what they do, date of birth, etc.
  • They must explain how they will administer. That is, if there is to be a single manager, a board of directors, a manager, etc.
  • They have to explain the reason for carrying out the activities.
  • Explain where the company will be located.
  • Attorney.
  • Personnel trained in surveillance, in situations that apply.
  • Social capital.
  • Requirement of acceptance of foreigners.
  • Determine where the articles of incorporation will be signed, where they must register it in the Public Registry of Property and Commerce.

Necessary documents

If the citizen correctly performs the Requirements to create a company in Mexico, then you will have to collect the following documents:

  1. First, the citizen must apply to the Foreign Relations Secretariat (SRE).
  2. They must create a charter. This document is essential because it should highlight relevant information about your company. When the company has already been created, it must be notarized by a notary or broker.
  3. Registration before the Service tax administration.
  4. Registration in the RFC tonte the SAT.
  5. They must be presented at the Public Registry of Property and Commerce, where you will register your business and the real estate that constitutes it.
  6. The company must be registered through the Mexican Institute of Social Security.
  7. They must bear in mind the municipal or state permits that are necessary in the determined place.
  8. Registration with the Mexican Institute of Social Security (IMSS).

Where is the procedure done?

It is important to explain that to carry out the procedures to create a company, citizens must attend various entities or institutions.

The citizen must request the SRE, to request this you need:

  1. You must establish 5 possible names for the company.
  2. The person must request a typing authorization, with two copies and the original.

The members of a company must move to the SAT. They must also appear before a notary of the SRE and attend the Public Registry of Property and Commerce.

It is important to note that only in the case of SASThis process is carried out in the system of the Ministry of Economy, the application procedure for other commercial and civil organizations will be carried out in the establishment of the SAT.

Then make the registration through the State Treasury. In addition, you must request the use of the land before the pertinent authority, Mexican social security registration and so on.

This procedure has to be done in person.

General Costs of Starting a Business

To create a business you can spend at least $ 20,000 pesos. When you are going to hire a notary it can cost at least 10 and 15 thousand pesos.

To register the company in the Public Registry of Property and Commerce, the procedure may cost approximately $ 1800.

If you are going to request registration through the Business Information System, it has a cost of between $ 300 and the $ 700.

Another source shows that registering a business in Mexico takes a 17.80% of the cost of monthly income, then a building permit is taken 9.8% of value, having electricity entails a 336.70%, the property registry is 5.2% and so on.

Legal Aspects to Create a Business

The Requirements to create a Company in Mexico, in the legal field are the following:

  1. Assist the Secretary of Foreign Relations.
  2. Intellectual property.
  3. Registration of tax obligations.
  4. Create a charter.
  5. Enroll in the SAT.
  6. Property registration.
  7. Contracts.
  8. Registration through IMSS.
  9. Comply by registering the company in the other organism.

Tips for Starting a Business

To establish a business the following tips will be explained:

  1. Establish the type of companies that you are going to set up and, above all, define how your company will be according to the needs.
  2. Determine short, medium and long term.
  3. Have a plan when there are complications in certain situations.
  4. In the event that there are partners, a agreements each.
  5. Determine the time of the company.
  6. To create a company you must investigate and examine the possibilities of your business.
  7. To start a business they can develop a marketing strategy.
  8. Have good receptivity to customers.
  9. Determine costs and develop a budget.
  10. Find people to support you.
  11. To start your business, people must be patient.
  12. He uses the in a lot mouth to mouth.

What is a company?

A company is an organism that works according to its objective, it can be of goods or services, with future profits and generating jobs.

Company types

In Mexico there are a wide variety of companies, among which the following stand out

Stock Company of Variable Capital

It is a for-profit company formed by two or more shareholders and within its organization there must be an ordinary or extraordinary assembly.

Limited Liability Company

This company is made up of several partners who meet a function according to the capital contributed to it. This capital is divided into shares and not shares as happens in the public limited company.

Simplified Joint Stock Company

It is one of the newest companies that exists in Mexican territory, and it consists in that its capital is divided into shares, it can be online and free. Facilitating the creation of micro and macro companies giving it legal formality.

Investment Promoter Corporation

It is a type of commercial company of the most flexible, which exists in the country, endorsed by the General Mercantile Law. And it can be constituted by these legal entities, notary or broker.

Simple Limited Partnership

It is a society that must be constituted by more than two partners and allows others to only contribute their work for the benefit of a community.

Limited Partnership by Shares

It is a company, where the person responsible only falls on a shareholder who will assume the debts and obligations acquired by it.

That is why if you want to start a new business you must meet a series of Requirements to create a company in Mexico.

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