How To Register A Service Company In The Mexican Energy Sector
The energy sector of Mexico is a growing land of opportunity for both the local industry and the foreign investors. Ever since Peña Nieto confirmed the reformation of the energy sector in 2013, there has been a lot of investments in the Mexican green energy, all of which have seen formidable returns. It could be intriguing to a lot of people, and here- we discuss how you could successfully establish your own service company in the Mexican energy sector.
Why You Should Build A Company In The Mexican Energy Sector
First things first, the field of the Mexican Energy is one of the fastest growing sectors in the country. Every year, the energy consumption rate has been increasing by a 3%- in the field of the green energy, Mexico is one of the fastest growing economies in the world. As per the reports of Secretaría de Energía, in 2016, the foreign investment reached a milestone of USD10 Billions, making awe-inspiring for till the year 1999, there was a very little to almost none investments, and it didn’t take much time for the opportunities to skyrocket. The number is still increasing and definitely will value to a lot more in the coming time.
And even the Mexican government recognizes it- it has been spending a considerable budget in this field. Spending the high money for the energy lines- both solar and wind energy, they have clear a cut idea of how the renewable sources of energy should be given the utmost importance. By 2050, they want a Mexico where at least 50% of the energy comes from the renewable sources, and with so much focus they have put into it, it only increases the potentiality of this sector as an investment.
So, if you think these figures are impressive, here are the things you will need to do to get a company running in the energy sector in Mexico.
The Steps Are As Follows:
1) Signing the Power Of Attorney:
First, you will need to draft and sign a power of Attorney. This is a document which will enable a local partner to register your company on your behalf- which means without you being physically present.
2) Decide on how you are going to Structure Your Business:
After you sign the power of Attorney, first, you will need to decide on a name for your company, based on the service you provide. Also, it is necessary that you decide on the type of your company- they are split into two categories. The first is LLC (Limited Liability Corporation), in which the funds of your company are your personal responsibility. Another is a Stock Corporation, in which the stockholders are liable only for what they invest.
3) Decide on your Shareholders
Legally, it is necessary that there are at least two shareholders in your company, which could either be an individual or other companies. The authorities are to be informed of how much each of them has contributed to your business, and you will also need to share their basic information.
After that, what you will need to do is register your company in the Public Registry of Commerce, and afterward in the National Registry of Foreign Investment. As you are looking to open a service company in the energy sector, you should also acquire the correspondent permits from the Energy Regulatory Commission, and only then your company will be able to import, generate or export electricity.
5) Application for a Tax ID Number
This is not a long task, all you need to do is register in the Mexican Ministry of Finance and Credit. You will have one in about 1 to 3 days.
6) Open a Corporate Bank Account
Needless to explain, this is very important. You need somewhere to keep the big money your company makes, don’t you?
For a business flourishing like this, you will definitely get your returns once you invest. And remember, you are not just making some money with an investment such as this, are also contributing to uplift the environmental standards of the world. This ‘green energy’ which you are going to promote with your business will be of huge help to subside the adverse effects of using fossil fuels and such resources and will erase the livelihood of the planet Earth.
I hope this article helped you. And if it did, I wish a very best of luck with the business in you are going to commence.