We offer of full range of corporate law services including setting up corporations, partnerships, non-profit and charitable organizations, registration of minutes and minutes book maintenance, board meetings, government filings and permits, as well as any other administrative assistance needed to maintain a Mexican corporation in good standing.
One way to acquire property in México is through a corporation. This structure works better if you are planning to start a business in México but it can also be used to just acquire a property. The reason is that the corporation is a legally what is called a moral person (as well as a Mexican person) and is therefore allowed to acquire property anywhere in the country. What you, as the buyer, will own, is stock in the corporation.
Types of Corporations
There are different types of corporations, but the most commonly use are the Sociedad Anonima (S.A.) and the Sociedad de Responsabilidad Limitada (S. de R.L. is the equivalent of the American L.L.C.). There are several differences between them but the most important ones are: 1. -With the S.A. you need to establish a minimum capital of $50,000 pesos, while with the S. de R.L. you can start at one peso (although this not recommend because corporations have to explain to the Mexican IRS where it obtained the money to buy any property it has acquired and that is not an easy thing to do when you only have one peso as social capital) and; 2. The S.A. requires an official Comisario, who would have, among other responsibilities, the job of verifying that corporation works properly. This position is usually given to the accountant of the corporation or the attorney of the partners. In reality, this role is simply a legal technicality. In the meantime the S. de R.L. doesn’t have that figure.
Maintaining the Corporation
Just as the yearly bank fee that you pay in a trust (fideicomiso), with the corporation you need to make, at least once a year, something call “Minutes of the Meeting,” which in reality is a shareholders’ meeting. This is also a simple technicality and the shareholders can appear through a person with Power of Attorney. Changes to the structure of the corporation (such as revoking or granting powers) can be made then.
Requirements to form a corporation
To form a corporation you need:
1. At least 2 partners, OF ANY NATIONALITY, physical or moral persons (foreign corporations can also be partners in a corporation). Of course you will need your ID, or incorporation documents in the case of a foreign corporation.
2. Three possible names for the corporations, as all corporations require unique names.
AND THAT’S IT!!
The rest of the information requires is pretty standard.
Easy Legal has the personal and expertise necessary to help you make this legal process simple and fast. Just fill out the questionnaire or contact us and we will answer you as soon as possible to help you satisfy your legal needs.