Opening a financial company in Mexico is subject to specific regulations applicable to both local and foreign investors. Depending on the types of activities to be conducted, there are also several types of financial licenses available in Mexico.
Below, our lawyers in Mexico explain the main requirements to comply with when filing for a financial license. You can rely on them for support with the application.
Table of Contents
Activities associated with the main Mexican financial licenses
An interesting fact about Mexico is that it has one of the best-regulated financial sectors in the world. As such, the activities permitted here are numerous and are covered by a wide range of business licenses.
Here are the main types of financial licensed activities in Mexico:
- banking;
- credit issuance and administration;
- insurance and reinsurance;
- investment advisory;
- securities brokerage;
- investment through specialized funds;
- crowdfunding;
- various fintech operations.
Please note that some of the activities also cover other sub-categories of services. This is the case of investment management companies, which can offer:
- asset management services;
- share purchase solutions;
- appraisal services.
Each of them is subject to specific laws and types of financial licenses in Mexico.
If you want to establish a financial company, our law office in Mexico City can help you register the appropriate business. In most cases, this is the joint stock company.
General requirements to obtain a financial license in Mexico
The Mexican National Banking and Securities Commission is the main institution that issues financial licenses. For this purpose, the following requirements must be met:
- the company must meet the minimum share capital requirements;
- the business is also required to have at least one representative who has citizenship in Mexico;
- the company’s statutory documents must specify the operations it will carry out;
- details about the parties holding shares in the company must also be provided;
- a list of the directors, managers, and other key officers must also be supplied;
- an operational plan of the company must also be provided;
- a security deposit must also be made with an approved bank.
Apart from these, there are also other documents that may be required by the Banking and Securities Commission, in accordance with the type of activities to be undertaken.
Foreign investors and companies operating in the Mexican financial sector
It is possible for foreign investors to open financial companies in Mexico, as well as for overseas institutions to set up branches here. Individuals are not required to have residency in Mexico, to own such enterprises, the main requirement to respect is to appoint a Mexican legal representative only.
When it comes to foreign companies, they must obtain authorization to operate in Mexico. They can also set up representative offices, however, they cannot carry out commercial activities through them.
Our Mexican lawyers can offer more information on how foreign financial companies can operate here.
Minimum capital requirements for various financial activities in Mexico
Here are some of the minimum capital requirements required to obtain a financial license in Mexico:
- USD 27.5 million for traditional banking institutions;
- USD 16.5 million for banks with activities dealing in securities, precious metals, foreign currency, bankruptcy, and appraisals;
- USD 11 million for companies offering their services to professional, institutional, qualified investors and other companies;
Our lawyers in Mexico are also at your service with legal solutions for other matters, such as relocation. As such, you can also rely on us for support in immigration to Mexico.
Please contact us if you want to apply for a financial license in Mexico.