What You Need To Know About Company Formation in Mexico
Do you want to register a business or a company? Do you have a business idea that you would wish to implement? You may also be a group who have started a company, and you would wish to make it legal. Having an unregistered company is not only illegal, but it can also earn you jail time. When you operate an unregistered company, you may find yourself in many troubles that you may have avoided if you registered the business or the company from the word go. When you are establishing a business, then is critical for you to understand all the requirements.
You need to know all that is required for you to be on the safe side, even if you have hired an agent to do the registration. There are so many government regulations that should be followed and therefore you will need to know all of them. The process is made harder by the cultural differences for the foreign people. If you are in a position to learn Spanish, then please do so that you can communicate effectively. Avoid the language barrier if you can for your advantage. There are different approaches that each state uses, but it is important you identify the state you are forming the company.
You can opt to hire a licensed lawyer who will help you through the process. It is important that you find a registered lawyer as per the requirements of the state and who has been practicing law in this field for a long time. This may become inevitable especially if you are a foreigner and you would wish to obtain the citizenship also. Establish a law firm that is reputable and that can handle the registration efficiently. A lawyer can make work easier for you as opposed to if you did the registration on your own. Remember, some of the officials are there to frustrate you, but if you have a local lawyer who understands their dealings, then the process will be smooth.
Look for a lawyer who comprehends your language and Spanish as well. Go ahead and insure the company’s name just as a precaution measure. Remember, there are certain fees that you should pay such as the registration fees, and therefore you will need to have this money set aside for the process. You are also required to pay the incorporation agent if you hire them. The firm will handle the business, and you don’t have to go to the country yourself. Chose the company’s name and structure and have the agent translate it into Spanish. Have the name registered in the foreign affairs office or the registrar of companies. Register as a taxpayer, sign the required documents and make sure that your company is insured.