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Zaldivar Consulting, S.C. (ZC) is an Accounting & Consulting Firm with 25 employees, with offices in Mexico City and Morelia, Michoacan.
Among the services ZC offers are consulting, taxes intelligence, auditing, accounting payroll, bookkeeping, outsourcing, business development, corporate books, due diligence, & foreign advice. At the same time, the Firm has develop the “CROS” process which stands for Creation, Running, Operating, and Setting-up operations in Mexico.
Due the needs of our customers to know about the requirements to incorporate a Mexican Company LLC, ZC describes the process and information on how to start an LLC with foreign stockholders (individuals and/or corporations).
It is important to mention that the information described vary according to the nationality (birth country) of the stockholders and the objective of the company.
STEPS TO INCORPORATE
- Fill a format from the Notary
- Get all the documents requested from the stockholders (if foreigner, they must be apostille)
- Make a down payment to the Notary and ZC
- Creation of the LLC
- Register the LLC with the IRS
- Physical Address
- Start Taxes and Accounting obligations
- Open the bank account
- Start invoicing
- Hiring employees
- Start running the operations
PROCESS TO CREATE AN LLC IN MEXICO
To create a LLC in Mexico, it is necessary to have at least 2 stockholders
If the stockholders of the Mexican Company cannot come to Mexico:
Individual / Person.- In case the person cannot travel to Mexico. He/she has to extend an apostille power of attorney (in Spanish) to your representation in Mexico in order to act on your name to do the legal process. Documents apostille requested: Passport, Birth Certificate, Tax ID registration (of home country). If the stockholder is traveling to Mexico, he/she will have to have a working or investor visa or migration document.
Corporation.- Translate into Spanish and apostille the titles (by-laws, regulations, & incorporation agreement, Tax ID – any other document to proof the legal existence of the corporation) of the foreign company and the power of attorney of the legal foreign corporation representative (person who represent the company – Tax ID). If the legal representative cannot travel to Mexico, will have to extent a power of attorney apostille on the name of the Mexican representative. The documents of the foreign corporation has to mention that it could open companies overseas and the power to its representative. If the legal representative is traveling to Mexico, he/she will have to have a working or investor visa or migration document.
The apostille of documents must be done by an attorney authorized by the Mexican Embassy/Consulate and translated into spanish.
The Notary could request additional information, due the Government Mexican Authorities requirements to avoid any case of money laundry.
The person who act as the legal representative of the Mexican Corporation, has to have Mexican Tax ID.
Once we have all the documents requested, the time to have the LLC incorporated could take approximate 4-8 weeks. The time could vary depending on the nationality of the stockholders and the activity of the LLC.
The LLC must be registered with the IRS-Mexico, within 30 days after creation, otherwise the LLC will be invalid, at the same time it should be registered with Foreign Investment Authorities.
After incorporation and registration of the Mexican LLC, it could issue electronic invoices, open a bank account on the LLC’s name, and hire employees.