How to Create a LLC or Corporation as a Shareholder in Mexico
When doing business in Mexico you may need to set up a Mexican corporation, and Mexlaw’s team of expert lawyers can lead you through the necessary steps. Mexlaw will show which documents you will have to provide and how to how to fill in the necessary forms.
First, you will be required to complete the form in which you will provide your company’s information (the Foreign Legal entity Shareholder): names, shareholders, type of business, etc. In that form you will be asked to attach certain documents; note that MexLaw uses high security decryption to guarantee that your data is secure. We ask that your documents are legible, in the event that any of these are photos or scans.
If you want to create a corporation in Mexico it must have two of more persons or foreign companies as shareholders and the notary public will require the notarized and apostilled or legalized (depending on the country it was created) documents of your foreign company. You can define the percentages of each shareholder, but the second shareholder must possess at least 1 per cent.
Your assigned Mexlaw lawyer will then assist you with the instructions for the notarization and apostille or legalization of your documents. You must first go to a notary public to attest and obtain the Notary’s signature on your documents (please consult your lawyer to confirm the place where you may have the documents notarized).
Apostille or legalization are processes of authentication for any legal document so that it will be recognized as legal and valid in the country where you need it. The apostille or legalization process will be subject to the country where you are located or where your foreign company has been incorporated.
These processes apply to the following cases:
Due to Mexican regulations, all of the shareholders of the Mexican legal entity that will be created must be present to sign the documents before the notary public; if you or any shareholder were not able to personally come to sign, you can grant a power of attorney for us to represent you at the signature of your Mexican legal entity documents before the notary public. For this, we will need the power of attorney to be notarized and apostilled or legalized according to the country in which it will be granted.
If the place in which the document will be executed is part of The Hague Convention you will have to go through the apostille process. This is a way to legalize your documents so they can be used in Mexico. The apostille process is carried out at the secretary of state of your city. For example, if you are located anywhere in the United States of America, you will have to go to the corresponding secretary of state and file the paperwork there.
In case the country in which the document will be executed is not part of The Hague Convention, you will have to go through the legalization process. This process must be done at the Mexican Consulate or secretary of state in your city. For example, if you are in Toronto you will have to go to the Mexican consulate in that city to legalize your document and be able to use it in Mexico.
*Please note that all of the documents that were in English must be translated to Spanish by a certified translator*
Once your documents are properly executed, your MexLaw lawyers will then be able to proceed to sign the documents of your Mexican legal entity; once the documents have been signed, they will proceed to have your corporation registered at the Public Registry of Commerce and the National Registry of Foreign Investment and obtain your RFC (Mexican Tax ID). Our local MexLaw team will continue to support you after your corporation has been set up and offer you legal protection here in Mexico.