Opening a Company in Mexico: Complete Guide for Brazilians 2026

To open a company in Mexico as a Brazilian, you can own 100% of the capital, with no Mexican partner and without living in the country. The Foreign Investment Law (Ley de Inversión Extranjera, LIE) allows foreign participation in any proportion, except for reserved activities. The next step is to incorporate the company (usually an S. de R.L. de C.V.), obtain an RFC and an e.firma, and register the company with the RNIE.

Can a Brazilian Own 100% of a Company in Mexico?

Yes. Article 4 of the LIE says that foreign investment may participate, in any proportion, in the capital of Mexican companies, acquire fixed assets, enter new fields of activity and open or expand establishments, "except as provided in this Law."

This applies to Brazilian individuals or legal entities. There is no requirement for a Mexican partner, and the law does not make incorporation conditional on residence in Mexico.

In practice, what changes from one company to another is the activity. The LIE separates three groups:

• •Reserved to the State (Art. 5): oil and other hydrocarbons, planning and control of the national electric system, nuclear energy, radioactive minerals, telegraphs, postal services, issuance of banknotes, minting of coins and control of ports, airports and heliports.
• •Reserved to Mexicans (Art. 6): national land transport of passengers, tourism and cargo (not including messenger and parcel services), development banks and the professional and technical services that the law indicates.
• •With a participation limit (Arts. 7 and 8): Art. 7 sets maximum percentages for certain activities (for example, up to 10% in production cooperative societies). Art. 8 requires a favorable resolution from the National Foreign Investment Commission to exceed 49% in activities such as legal services and private education.

Commerce, digital services, consulting, technology and most B2B activities do not appear on these lists. Always confirm the text in force for your activity before incorporating.

Which Type of Company Should You Open in Mexico?

The choice of vehicle defines quotas or shares, governance and the flexibility to bring partners in and out. The two formats most used by foreigners are:

Under Art. 61 of the General Law of Commercial Companies (Ley General de Sociedades Mercantiles, LGSM), an S. de R.L. cannot have more than fifty partners. The suffix "de C.V." indicates variable capital, which allows the variable part of the capital to be increased or reduced without a full amendment of the bylaws.

Those who sell in Mexico to local customers usually opt for a Mexican company, because it issues a tax invoice (CFDI) and contracts on a local basis. Do not confuse it with a New Mexico LLC, which is a company from the U.S. state of New Mexico. That case is different and is covered in the guide to New Mexico LLCs for foreigners.

To design the complete structure, including a holding company and partners, see our corporate structures services.

What Are the Steps to Open a Company in Mexico?

The order below is the logical sequence of the process. Timelines and costs vary with the state, the notary and the complexity, so we do not fix them here: ask for a written quote and schedule before hiring.

1. •Approval of the company name. The company needs a name approved by the Secretaría de Economía before it is incorporated.
2. •Drafting and signing the bylaws. The document is formalized before a notary or public broker. Anyone outside Mexico can sign by power of attorney.
3. •Public Registry of Commerce. The incorporation deed is entered in the registry, and the company comes into existence for third parties.
4. •RFC and e.firma. The RFC is the tax registration with the SAT. The e.firma is the electronic signature used to file returns and issue receipts.
5. •RNIE registration. A specific step for companies with foreign capital (see below).
6. •Business bank account. Banks ask for corporate and tax documentation and assess the profile of the representative and the partners.

What Documents Does a Brazilian Need to Present?

The exact list is defined by the notary and the banks. In general, expect requests such as:

• •a valid passport of the Brazilian partner;
• •proof of address in Brazil;
• •CPF or an equivalent tax identification document;
• •for a corporate partner, the articles of association or bylaws, the minutes granting powers and the identification of the representatives;
• •an official Spanish translation of documents in Portuguese, done by an expert translator.

Brazilian documents usually require a Hague Convention apostille and a translation. Confirm with the notary which requirements apply to your case.

What Is the RNIE and Who Needs to Register?

The RNIE (Registro Nacional de Inversiones Extranjeras) is the registry kept by the Secretaría de Economía. Art. 32 of the LIE requires registering Mexican companies in which foreign investment participates, as well as foreigners who habitually carry out acts of commerce in the country.

The legal deadline is 40 business days, counted from the date of the company's incorporation or of the foreign investment's participation. After registration, Art. 35 provides for an annual renewal of the registration certificate, by means of an economic-financial questionnaire.

Non-compliance carries a penalty. Art. 38 provides for a fine of thirty to one hundred salaries for omission, late compliance, or incomplete or incorrect information in the registration, reporting or notice obligations to the Registry. The official system is at rnie.economia.gob.mx.

How Do Taxes and the Bank Account Work?

The Mexican company is taxed in Mexico as a legal entity. The Income Tax Law (Ley del Impuesto sobre la Renta, LISR) sets in its Art. 9 a rate of 30% on the taxable result of legal entities (personas morales). Dividends distributed to individuals, including those resident abroad, are subject to a 10% withholding, provided for in Arts. 140 and 164 of the LISR.

There is also VAT (IVA) and the obligations of electronic invoicing (CFDI) and monthly accounting. Do the planning with a Mexican accountant before you start operating. Our tax planning team coordinates the Brazilian side and the Mexican side.

For the bank account, Mexican banks ask for the corporate documentation, an active RFC and the profile of whoever operates the account. Opening a company does not guarantee the account: the bank does its own analysis. See how we support this stage in offshore banking.

Next Steps

If you want to open a company in Mexico, start with the activity: confirm in the LIE whether it is free, limited or reserved. Then define the type of company and the list of documents. To structure everything with specialized support, talk to our team.