Finding the right corporate legal counsel in Mexico to assist you with your commercial activities means hiring a lawyer with the skill set to guarantee you a smooth market entry and ongoing operations free of legal obstacles. Because a reliable attorney will have extensive knowledge of corporate law in Mexico and will be able to provide the legal representation you need to protect your company from risks, ensuring full compliance with local regulations, while guaranteeing the longevity and profitability of your business.
Mexico is the fourth-largest economy in the Americas and the 15th in the world, with a gross domestic product (GDP) of $1.27 billion (all figures in USD) in 2019. This North American country of more than 128 million people also recorded a gross national income (GNI) of $9,430 per capita that same year — a figure that sets it as an upper-middle income country by international standards.
Mexico has reached more than 50 free trade agreements (FTA) with countries in the Americas, Europe, and Asia, including the United States-Mexico-Canada Agreement (USMCA) and the Pacific Alliance, which also includes Chile, Colombia, and Peru. The country has major seaports accessing both the Pacific and Atlantic oceans and is the 17th-largest exporter in the world.
Some of Mexico’s main export commodities include automobiles, electronics, beer, and agricultural produce. The country’s main export destinations include Canada, Germany, China, Japan, and the United States. Mexico is also the fourth-largest producer of oil in the Americas, producing nearly two million barrels per day.
Whether you are considering expanding your business in Mexico or have already established a commercial presence in the country, read on to understand how a legal counsel in Mexico can support your business venture, or go ahead and reach out to us now to discuss your business options.
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How can a legal counsel in Mexico ensure success?
A good legal counsel in Mexico will know the ins and outs of the Mexican legal system, being able to guarantee your company’s corporate compliance and mitigate potential business risks that can hamper your commercial operations. A corporate lawyer will also provide specialist advice on Mexican tax, labor, civil, and immigration regulations, helping you to navigate the country’s regulatory framework and incorporate your company in the shortest time possible.
As such, your attorney in Mexico will be able to assist you with obtaining a tax ID, in addition to supervising the processes of registering the company with relevant authorities and requesting the opening of a corporate bank account with a local financial entity.
Your corporate legal counsel in Mexico will also support your business venture with complex and time-consuming activities that require specific knowledge of legal concepts, including drafting the statutes for your company, filling out and submitting forms before governmental entities, drafting contracts, and reviewing essential documents.
Other tasks a corporate legal counsel in Mexico can help you with include:
- Reviewing and drafting of corporate documents such as meeting minutes and shareholders’ records
- Trademark filings before the Mexican Institute of Industrial Property (IMPI)
- Providing legal support when hiring local staff
- Evaluating work visa applications for foreign executives
- Liquidating your company, in case it is required
Choosing the right legal counsel: key considerations
When entering the local market, it is essential to work with a legal counsel in Mexico who has knowledge of corporate law, including the General Law of Commercial Companies (ley general de sociedades mercantiles), as well as labor law, tax requirements, and intellectual property regulations. It is also preferable that your legal counsel has experience as a legal representative of foreign companies, because they will be aware of some of the pitfalls foreign investors can encounter, as well as additional requirements that may be demanded by the Mexican authorities. Other things to considering regarding the profile of your legal counsel in Mexico include:
- Industry experience: It is strongly recommended to work with a legal counsel who has experience working with companies in your industry, this will ensure a quick market entry, allowing you to avoid delays and extra expenses.
- Academic background: Corporate legislation in Mexico changes regularly and can be hard to interpret. Thus, it is crucial that the legal counsel you will be working with has the appropriate academic background and is informed about recent or expected regulatory changes.
- Information management: It is ideal that all the information handled by a legal counsel be securely stored online. In this way, you can access it at any time and anywhere
- Professional reputation: By examining the business records and past client reviews for a specific corporate lawyer, you will be able to make an educated decision in line with your commercial needs.
- Communication skills: Working with a legal counsel that has good communication abilities is fundamental to maintain strong business relationships and deal with business transactions in Mexico
Advantages of working with a good corporate lawyer
Some of the main advantages of working with a good corporate lawyer in Mexico include:
Professional advice: With the appropriate knowledge and experience, a legal counsel in Mexico can help you make important decisions for your company, such as choosing the right legal entity or registering an economic activity that best suits your business purposes.
Intellectual property protection: A legal counsel in Mexico will be in charge of protecting the intellectual property of your company, whether it is your brand, logo, or a patent registered under the name of your organization. In this way, you will be able to maintain the competitiveness of your business in the Mexican market.
Bilingual assistance: While the business community in Mexico generally speaks English to a reasonable level, finding a professional with an advanced level of English is not always easy. Yet with all documents and processes in Spanish, you cannot rely on support from a lawyer who does not speak the local language. A well-qualified and experienced legal counsel in Mexico will have a significantly higher level of English than average, overcoming any language barrier that could affect your commercial interests.
Business connections: By residing and working in Mexico, a legal counsel has had enough time to develop and maintain valuable relationships with other business owners, partners, suppliers, and agents of public institutions, which can be beneficial to your business.
Biz Latin Hub can be your corporate legal counsel in Mexico
At Biz Latin Hub, our teams of multilingual business-support professionals have years of experience helping foreign organizations to successfully establish themselves in the Mexican market, as well as any of the other 15 countries in Latin America and the Caribbean where we operate. Our legal services team in Mexico is equipped to launch and maintain your business, guaranteeing good standing with local authorities along the way. With our full suite of legal, accounting, and back-office services, we can be your single point of contact to guarantee the success of your commercial expansion in Latin America.
Contact us now for personalized assistance or a free quote.
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The information provided here within should not be construed as formal guidance or advice. Please consult a professional for your specific situation. Information provided is for informative purposes only and may not capture all pertinent laws, standards, and best practices. The regulatory landscape is continually evolving; information mentioned may be outdated and/or could undergo changes. The interpretations presented are not official. Some sections are based on the interpretations or views of relevant authorities, but we cannot ensure that these perspectives will be supported in all professional settings.
