The main advantages of doing business in Mexico

The main advantages of doing business in Mexico

Despite the geographical remoteness of the territory, opening a company in Mexico in 2021 remains relevant. Especially interesting is the registration of a business in Mexico for entrepreneurs who plan to enter the U.S. market. Contact our experts at IT-OFFSHORE to learn more about the nuances of opening a company.

Main activities and advantages

In 2021, it is relevant to start companies in Mexico in the retail and food processing industries. The territory is attractive to businesspeople because it is relatively inexpensive to operate.

Another important advantage - cheap labor. For example, many car manufacturers open factories here. The cost of living is also relatively low.

The strength of the jurisdiction - the developed infrastructure. The country has quality roads, many airports, fast internet. The territory has become a transit between the two continents. The territory has a large number of treaties on avoiding double taxation.

The economy is considered one of the strongest in the world. In Mexico there is a large amount of natural resources and valuable minerals. Agriculture is actively developing, the country specializes in the export of electronics and chemical products.

There are tax benefits for companies that conduct research and development activities. Firms specializing in transportation, agriculture, energy production are also eligible for benefits.

How to open a company

To open a firm, you need to choose a suitable legal form of organization. The most common types include general partnership or partnership, limited liability company or joint-stock company.

The founders can be residents and non-residents, individuals and legal entities. Mexico is considered an industrial-agrarian country. The most profitable areas are considered mining, energy production, agriculture.

To open a bank account in Mexico in 2021, you will need to gather a number of documents. These include identification, proof of address, and corporate documents. Some banks may ask for additional references and information about the origin of the capital. The most popular banks include BANCO DE MÉXICO, BBVA, Grupo Financiero Banamex S.A. de C.V., Inbursa, and Banco Regional de Monterrey.

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