Establishing a limited liability corporation (LLC) is a common decision if you want to launch a business in Mexico. An LLC offers owners personal liability protection as well as various management options and tax advantages. The following information will help you create an LLC in Mexico.
You must first decide on a name for your LLC and see if it is available. The name must be original and unregistered with another business. Through the Mexican Institute of Industrial Property (IMPI), you can determine whether a name is available.
The bylaws of your firm, which describe the duties and rights of the owners and managers as well as the goals and pursuits of the business, must then be written and filed. A legal representative who is in charge of the business’s legal and financial matters must also be chosen.
You must submit the required paperwork to the Public Registry of Commerce in order to register your LLC. The bylaws, evidence of payment of registration costs, and identity for the owners and legal representative are all included in this.
Depending on the state and the size of the business, different states have different fees for incorporating an LLC. It often falls between $1,000 and $3,000 USD. In addition, taxes and annual renewal costs need to be paid.
Limited liability partnerships, or LLPs, are not recognized as legal business entities in Mexico. However, certain states do permit the creation of multiple-owner limited liability companies (LLCs), which can function similarly to limited liability partnerships (LLPs).
In conclusion, setting up an LLC in Mexico needs careful consideration and adherence to legal criteria. For business owners, it may, however, offer personal liability defense and tax advantages. The price of establishing an LLC can vary, so it’s crucial to research the particular regulations and costs in your state.