Guide to
BUSINESS in
MEXICO
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Basilica de Guanajuato, Guanajuato - Mexico
Mexico has become one of the most attractive investment countries for industries in the world. Is necessary to know some aspects to do successful business in Mexico.
Jalisco - Mexico
Mexico belongs geographically to North-America; ethnologically it belongs to Latin America. Mexico is the most populous Spanish-speaking country in the world. Mexico has a population of 120.2 million of inhabitants and an Economically Active Population of 52.1 million people, reported by INEGI in 2014.
Mexico has many natural resources that favor the development of a large number of production activities, including those related to renewable energy generation.
Some of Mexico's strengths in this area are:
Potential to generate wind power estimated at 40,268 megawatts. Potential to generate hydroelectric power estimated at 53,000 megawatts. Potential to generate geothermal energy estimated at 10,664 megawatts.
COMMUNICATION INFRASTRUCTURE Mexico has excellent communication infrastructure. Its road network and railroad system communicates the interior part of the country, the north and south borders, making connections between the United States, Guatemala and Belize, and the west and east coasts, joining the sea ports on the Pacific Ocean with those on the Gulf of Mexico and the Caribbean Sea, at the Atlantic Ocean.
It also has
76 open airports
117 sea ports (49
27 thousand
(12 for domestic
cabotage ports
kilometers of
traffic and 64
and 68 grand
railroads.
for international
cargo and cabotage
More than 370
and domestic
ports).
thousand kilometers
transportation).
of roads.
ECONOMICAL DEVELOPMENT Mexico has entered into 12 free trade agreements covering 43 countries. Mexico’s legal environment has also improved through its membership in international organisations such as the NAFTA, the Organization for Economic Cooperation and Development, the World Trade Organization, and the Asia-Pacific Economic Cooperation. Mexico placed 61st in the Global Competitiveness Index 2014-2015. It is in 39th place in the World Bank Doing Business 2015 report. The National Infrastructure Program for Transport and Communications 2014-2018 envisages an approximate investment of 100 billion dollars by the federal government. 45% of the investment is earmarked for the modernization and expansion of transport infrastructure, and 55% for telecommunications Products made in Mexico have positioned the country as a platform for vehicle, part and component development and manufacture with the highest and strictest international quality standards. Mexico’s network of free trade agreements gives it preferential access to 45 countries, 1.143 billion people. It is the ideal export platform to reach almost two thirds of the world’s gross domestic product.
TAXES Foreign residents subject to tax payment in Mexico generally fulfilll this obligation when the person who pays them withholds the tax and pays it to the Tax Administration Service (Servicio de Administraci贸n Tributaria). The taxes you should be paying are:
INCOME TAX
VALUE-ADDED TAX
People with Mexican or foreign
They must pay the value-added tax if they
nationality, who reside abroad
obtain income from the disposition of
and obtain income in Mexico, are
property or from the lease of real property
obliged to pay income tax.
different from residential property. Value-added tax must also be paid if it has to do with leasing of furnished real property, or with hotels or boarding houses. Furthermore, the value-added tax due in accordance with the Value-added Tax Law (Ley de Impuesto al Valor Agregado), must be paid by individual or juridical persons who make payments to residents abroad for rendering services used in Mexico, for the use or benefit of tangible or intangible property, among other cases, since this is considered as importations.
TAX ON CORPORATE ASSETS
CORPORATION TAX WITH SINGLE RATE
Nonresidents are obliged to pay the
This tax must be paid by companies and
tax on corporate assets (until 2007)
persons living in national territory, as well
when they have a permanent
as foreigners with permanent business
establishment in Mexico, for the
activities in Mexico.
property or the assets that are used
The tax will be paid according to the income
in said establishment.
obtained, no matter the place where the income was generated (specifically for: selling fix assets, independent services and temporary rent of assets).
According to data collected by Doing Business, starting a business there requires 6.0 procedures, takes 6.3 days, costs 18.6% of income per capita and requires paid-in minimum capital of 0.0% of income per capita. With its international trade strategy, Mexico offers access to diverse markets, tariffs reductions, investment opportunities, legal transparency, intellectual property protection, and just and attractive competition. For these reasons in 2014, Mexico was positioned as the seventh largest producer of vehicles in the world and the largest producer of light vehicles in Latin America, surpassing Brazil with more than 200,000 units. During that year, the production and export of light and heavy vehicles established a new high record in the country.
in Mexico According to ProMexico.gob.mx, there are a total of 24 production complexes in 14 Mexican states, engaged in activities that range from assembly and bullet-proofing to vehicle and engine casting and stamping. According to the KPMG study Competitive Alternatives 2014, compared with the US, Mexico offered a 10% savings in manufacturing costs of parts, components 8% precision and 13% in both plastic and supplies metal components used industry. The renowned quality of Mexican automotive manufacturing has enabled several assemblers to choose Mexico as the sole manufacturing platform for their markets. Many models sold around the world are produced exclusively in Mexican plants, for example, the Ford Fusion, Lincoln Zephyr MKZ and Volkswagen Beetle. Mexico is a producer of vehicles of great quality and innovation. Vehicles made in Mexico comply with high standards and are sold in the most demanding and competitive international markets.
Many of the companies that have come to Guanajuato in recent years, in their evaluation criteria, found that the state of Guanajuato is a new area of opportunity for the development of their investment projects for the excellent strategic and geographic location, and connectivity with major seaports Pacific Ocean and the Atlantic. Guanajuato is accessible and well connected state to be located in center of Mexico. Its road network and rail system allow quick mobility to the major cities in the country and its northern and southern borders, in addition to major seaports, which can reduce costs and streamline the entry and exit of merchandise into the country.
GUANAJUATO, THE BEST MEXICAN STATE TO INVEST
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