Anyone who operates or intends to enter the Mexican market needs to find a reliable corporate legal service provider in Mexico.
Ideally, the law firm you choose in Mexico should have a track record of working with investors and understand the most common administrative pitfalls encountered when doing business in that country.
Although traditional corporate law firms will be able to assist you with issues such as company formation and visa processing, if you will seek other types of back-office services, such as accounting or Filing taxes in Mexico, You may find that the best option is to seek legal services from a company with a broader investment portfolio.
Because providers who provide services such as accounting, tax consulting, and recruitment will be able to meet all your needs through a service agreement, which means you only need to deal with a local partner.
Read on to learn more about what makes the Mexican market such a strong investment prospect, as well as information about the type of support your law firm in Mexico should be able to provide and tips on what to look for in your provider.
or Contact us now Learn more about how we can support your business in Mexico.
Mexico is the preferred destination for investment in Latin America
Mexico’s gross domestic product (GDP) exceeds US$1 trillion (all figures are in US dollars), making it the second largest economy in Latin America, after Brazil, in 2019 Attracted more than 29 billion U.S. dollars Foreign direct investment (FDI) inflows.
Although GDP fluctuates, including hard hits due to the COVID-19 pandemic, the overall trend is on the rise. Between 1995 and 2000, it nearly tripled. The prosperity of that period also increased, gross national income (GNI) Almost doubled in the same period.
According to recent World Bank forecasts, Mexico Will witness annual GDP growth It will reach 5.7% by the end of 2021.
Mexico is known as a major trading hub in the Americas, with a large number of ports serving the Pacific Ocean and the Gulf of Mexico, while More than 1.7 billion U.S. dollars in transit Daily with the United States. If you want to transfer imports/exports, you will need to obtain legal services in Mexico from providers who have worked in the field.
A series of Free Trade Agreements (FTAs) provide companies resident in Mexico with preferential access to major markets in the region and the rest of the world. These include the United States-Mexico-Canada Agreement (USMCA) that will take effect in 2020.
Mexico is also a founding member of the Pacific Alliance, along with Chile, Colombia and Peru.The most recent economic integration initiative ten years ago Singapore becomes an associate member This seems to be the first step for the league to expand beyond the Western Hemisphere.
Mexico’s service industry Generate more than 60% of GDP, And the country has a growing talent pool in professional disciplines and IT-related industries, making it a hot spot for outsourcing.
The country also has a highly developed manufacturing industry, accounting for more than 30% of GDP, of which computers, medical equipment and automobiles are the country’s most important exports.
Other major export commodities include agricultural products such as corn, vegetables and tropical fruits.
If you will be involved in manufacturing, farming or exporting goods, your law firm in Mexico should have a thorough understanding of the legislation for any particular industry.
How will your law firm in Mexico help?
Your law firm in Mexico will be able to assist you in the following ways:
local connection: With a history of operating in the market, your legal service provider will have a well-established network in Mexico’s business and legal communities, which may have potential value to you.
Make a decision: Your law firm in Mexico will be able to provide valuable guidance on key decisions, such as on the structure of your entity, or on which local partners and suppliers to work with.
intellectual property: Your legal service provider in Mexico has extensive experience in protecting clients’ intellectual property rights and can protect your brand or products from imposters in the shortest possible time.
Risk Management: A good Mexican company law firm will ensure that you comply with all local regulations, which means you can rest assured that you will not be punished unexpectedly or face legal inconvenience.
Identify an excellent legal service provider in Mexico
When looking for a legal service provider in Mexico, you need to consider the following useful things:
Good language skills: Since Mexico’s official process is conducted in Spanish, if you cannot communicate effectively in that language, you will need to find a bilingual provider. Most lawyers can speak some English. It is worth remembering that Mexico is one of the countries with the lowest English proficiency in the region. According to a recent study.
Past customer feedback: A good law firm in Mexico will get feedback from past clients in the form of online reviews, which should be a good indicator of the quality of service they provide.
technical knowledge: If you do not live in Mexico or will be away from the country for a long time, you may want to find a provider that can easily use an online platform through which you can manage and monitor their workload.
Professional legal knowledge: Certain sectors and economic activities are subject to specific laws and regulations, such as in the case of mining and international trade. If you will work in one of these fields, you will need to be familiar with providers of relevant legislation.
Biz Latin Hub can provide legal services in Mexico
In Biz Latin Hub, we provide customized comprehensive back-office service packages based on our investment portfolio including accounting and taxation. Founded, company’s Legal supportAnd visa processing.
We have teams in 16 markets in Latin America and the Caribbean, and we focus on market access across jurisdictions.
We will provide all the legal services you need in Mexico as part of a comprehensive support plan. It is more convenient to work with us than to seek services from individual recruitment, accounting and law firms.
Contact us today Discuss how we can support your business in Mexico.
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