Mexican Investment Board

México, your partner for growth

Mexican Investment Board

FOURTH TITLE

INVESTMENTS BY FOREIGN CORPORATIONS

ARTICLE 17.- Not withstanding what is established in any international corporation treaty and convention to which Mexico is a member party, the following individuals shall obtain authorization of the Secretariat:

I.- The foreign corporations that pretend to habitually undertake commercial actions in the Mexican Republic, and
II.- The persons to which Article 2736 of the Civil Code for the Federal District regarding local jurisdiction and for the Mexican Republic regarding federal jurisdiction refers, which pretend to establish in the Republic and if they are not regulated by different laws.

ARTICLE 17A.- The authorizations to which preceding Article refers, shall be granted when the following requirements convene:
a. That the mentioned persons proved that the applicant is duly organized in accordance with the laws of its home country.;
b. That the partnership charter and other organizational documents are not contrary to Mexican public policy; and
c. In the event that the persons which preceding Article, paragraph (1) refers, establish themselves in the Republic or maintain in it an office or branch; or in the event that those persons which preceding Article, paragraph (2) refers, maintain a representative within Mexico responsible for its obligations.

Any application which meets the requirements set forth, shall be granted within fifteen business days following the filing date of the corresponding application. Concluded the aforesaid period without emitted approval, the application is deemed to have been granted.

The Secretariat shall remit to the Secretariat of Foreign Relations a copy of the applications and the authorizations that grant based on this Article.