In accordance with Mexican law, there are several corporate obligations that all Mexican entities must comply with.
Hereunder please find a summary of the main ones:
I. Annual meeting of shareholders or partners.
In accordance with the Mexican General Law of Commercial Entities, shareholders or partners of a commercial entity are required to meet at least once a year, within the first four months of the year, in order to hold a meeting to approve the financial statements of the entity. The deadline to hold the above-mentioned meeting was April 30th, 2020.
If your entity has not yet held such a meeting, please let us know if we may assist you.
II. Declaration of shareholders or partners abroad (out of Mexico) who elect not to be registered in the Mexican Taxpayers’ Registry (official form 96).
The Mexican Federal Tax Code states that within the first three months of the year Mexican entities shall file with tax authorities a notice providing the tax identification number, tax address, and tax residency of their non-Mexican shareholders/partners. The deadline for filing the notice was March 30th, 2020.
If you have not yet complied with such an obligation, please let us know if we may assist you.
III. National Registry of Foreign Investments (NRFI).
Mexican entities with foreign investment must file a notice with the NRFI if such fall in any of the following categories:
a) Annual economic notice. In the event that the entity has a total amount equal to or greater than MXN$110’000,000.00 Pesos in any of the following accounts: total initial balance of assets, final balance of assets, total initial liabilities, final total liabilities, income (in Mexico and abroad), and/or expenses (in Mexico or abroad).
b) Quarterly modification notices. In the event of modification of any of the following items of the entity: (i) the business name, (ii) the corporate name, (iii) the tax domicile, and (iv) the economic activity. Also, the following events provided such results in operations for an amount greater than MXN$20,000,000.00 Pesos:
- Capital increase or decrease.
- Change to the structure of the partners/shareholders and/or;
- Variations in any of the following accounts: (i) accounts receivable from residents abroad who are part of the same corporate group, (ii) accounts payable to residents abroad who are part of the same corporate group, and/or (iii) contributions for future increases in the capital stock of the entity, capital reserves or resulting from previous tax years.
Alejandro Pedrín | apedrin@tplegal.net
Héctor Torres-López | htorres@tplegal.net
Leobardo Tenorio-Malof | ltenorio@tplegal.net
Mauricio Tortolero | mtortolero@tplegal.net
Daniel Gancz-Kahan | dgancz@tplegal.net
Alejandro Ceballos | aceballos@tplegal.net
Elio Sánchez | ecsanchez@tplegal.net
Iván Curiel-Villaseñor | icuriel@tplegal.net
Raúl Escamilla-Sanromán | rsanroman@tplegal.net
