White Papers
The World Health Organization (WHO) declared the outbreak of COVID-19 as a Public Health Emergency of international concern on January 30, 2020. On March 11, the WHO declared COVID-19 as a pandemic. On March 30, the Mexican Health Department declared the pandemic to be a nationwide Public Health Emergency caused by a Force Majeure. The…
INTRODUCTION Mexican companies (including subsidiaries of foreign companies), as well as permanent establishments in Mexico of foreign companies are subject to: (1) federal taxation, including income tax, value added tax (VAT), and asset tax; (2) applicable foreign trade taxes, including customs processing fees, countervailing duties, if any, general import tax (import duties), and VAT; and…
Two of the more complicated aspects of importing products into Mexico involve compliance with mandatory standards and labeling rules. Mandatory Standards (NOMs) Standards are official rules, technical specifications, guidelines and definitions that ensure that materials, products, processes, and services are harmonized and standardized. Mexican standardization procedures are established by the Methodology and Standardization Law,…
En octubre de 2010 entraron en vigor diversas reformas al Código de Comercio, entre las cuales se instituyó un nuevo registro para garantías mobiliarias. La creación de dicho registro ha sido una necesidad desde hace muchos años, misma que finalmente vino a ser cubierta con la publicación del decreto de fecha 23 de septiembre de…
El siguiente es un panorama general sobre el tema de la responsabilidad legal de los Consejeros en una Sociedad Anónima, en el marco Ley General de Sociedades Mercantiles y la Ley del Mercado de Valores. I. Ley General de Sociedades Mercantiles (“LGSM”) y leyes supletorias en dicha materia. Comenzaremos por indicar que la regla…
The recognition and enforcement of foreign judgments in Mexico is governed by international private law, Mexican federal law, and the laws of the Federal District of Mexico and the several Mexican states. On the international level, Mexico is a party to international agreements and, in general, adheres to a set of international norms and…
The best way for U.S. exporters to avoid collections problems in Mexico is to demand payment prior to shipment or delivery. The second most important suggestion might be to conduct legal, reputational and financial due diligence on your customer before extending credit or terms. Other tools available to mitigate the risk of non-payment or make…
Because of several financial compromises in Mexico during former President Felipe Calderón Hinojosa’s term last year, Mexican authorities have created a federal law to combat money laundering and prevent terrorist financing. On Oct. 17, 2013, the Ministry of Finance published the Federal Law for the Prevention and Identification of Transactions from Illegal Funds (Money Laundering…
In defining a market entry strategy, U.S. exporters should evaluate both the risks and potential rewards associated with each available option. Although some market entry vehicles may involve less risk—both legal and commercial—these strategies also tend to offer the lowest potential returns and market staying power. Oftentimes, companies will choose a hybrid strategy, depending on…
Mexico, a signatory to the Inter-American Convention on Letters Rogatory, has a well developed set of rules for presenting letters rogatory in Mexican courts, both federal and state, pursuant to the Mexican Federal Code of Civil Procedure (the “Law”). In addition to outlining the general rules for presenting letters rogatory in Mexican courts, the Law…