Sistemas y Asesoría Manuel López Léautaud
Best Investment, Shares, Business, Receivables, References
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Legal Framework for Foreign Investments
In most economic activities, foreign investors may own up to 100% of stocks in any company incorporated in Mexico.

The Foreign Investment Act sets forth that foreign investments may share in any capital stock of Mexican corporations; purchase all kinds of fixed assets; get involved in new fields of economic activity or manufacture new lines of products; open and operate new business establishments and expand and relocate those already existing, except for reserved or specific regulated activities. 

So this principle does not apply in 47 restricted activities. 

These activities may be reserved to the Government, to Mexican nationals or corporations incorporated under a foreigner-exclusion clause, or in the case of limitations to foreign capital majority interest

When total fixed assets of a new corporation are worth more than 85 million pesos, (about 10 million US dollars, this amount will be reviewed on a yearly basis.) approval by the National Commission on Foreign Investments (NCFI) is required.

Approval is also required when a foreign investor wishes to own more than 50% of the capital stock of companies with a line of business included in
any of eleven restricted activities.

An application for approval by NCFI is quite expedient. 

In fact, if no response is given within 45 working days, the project is automatically approved. 

* 93.8% of all 754 economic activities making the Mexican economy, according to the National Statistics, Geography and Informatics Institute (INEGI). 
C A L L I N G   A L L   C A P I T A L I S T S
 
Activities reserved to the state
Oil and other hydrocarbons; Basic petrochemicals; Electricity; Nuclear energy generation; Radioactive minerals; Mail; Bill issuance; Telegraph; Radio-telegraphy; Coin minting; Controlling, supervising and monitoring ports, airports and heliports.

Note: Satellite communications and railroads are no longer reserved to the State since the approval of the Railroad Service Law (May 12, 1995) and the Telecommunications Law (June 7, 1995).
Activities reserved to Mexican nationals or companies incorporated under a foreigner exclusion clause  
Land transportation of passengers, tourists and freight, excluding parcel and message delivery services; Gasoline and oil liquefied gas retail distribution; Radio transmission, radio and television services other than cable television; Credit Unions; Development banking institutions, under the relevant laws; Professional and technical services expressly set forth in the applicable legal provisions
Activities and purchases under specific regulations
a) Activities with a maximum 10% share: 
Production cooperatives 

b) Activities with a maximum 25% share: 
Domestic air transportation, Air taxis, Specialized air transportation. 

c) Activities with a maximum 30% share: 
Financial group holding companies, Multibanking institutions, Stock brokers, Stock exchange specialists. 

d) Activities with a maximum 49% share: 
Insurance companies, Bonding companies, Money exchange, General depository warehouses, Financial leasing companies, Factoring companies, Financial corporations with a limited purpose as referred to in Article 103, Fraction IV of the Credit Institutions Law; Corporations referred to in Article 12 Bis of the Stock Exchange Market Law; Stocks representing the fixed capital in Investment Companies and Investment Company Operators; Manufacturing and marketing of explosives, firearms, ammunition and fireworks, excluding purchases and use of explosives for industrial and mining activities, or preparing explosive mix for consumption in those activities, Printing and publishing newspapers for domestic circulation only, Series 'T' stocks in corporations owning agricultural, cattle breeding, and forestry land, Cable television, Basic telephone services; Fishing in sweet water, sea shores and the exclusive economic zone, excluding aquaculture, Comprehensive port administration, Vessel pilot port services to conduct inner sailing operations under the relevant Law; Shipping companies engaged in commercial operations of vessels for inner and cabotage sailing except for tourist cruises, and dredge and navy artifact operation for port construction, preservation and operations, Services related to the railroad sector including passenger services, maintenance and rehabilitation of railways, by-passes, repair shops for traction and dragging equipment, organizing and marketing unit trains, operating inner cargo terminals, and railroad telecommunications; Supplying fuel and lubrication for vessels, airplanes, and railroad equipment.
Activities under NAFTA's gradual opening scheme:
International land transportation of passengers, tourists and cargo between various sites in Mexico, and management of passenger bus stations and ancillary services: 
1994
December 18, 1995
January 1, 2001
January 1, 2004
Reserved only for Mexican nationals or companies incorporated under the foreigner exclusion clause
Up to 49% ownership
Up to 51% ownership*
Up to 100% ownership*
Manufacturing and assembling parts, equipment and spares for the automotive industry; and Building, construction and installation of works:
1994
January 1, 1999
Up to 49% ownership
Up to 100% ownership*
 Videotext and switchboard package services:  
1994
July 1, 1999
Up to 49% ownership
Up to 100% ownership*
* No prior authorization is required from the National Commission of Foreign Investment  

Activities requiring authorization from the NCFI on for foreign capital stock participation over 49%  
Port services for vessels to conduct their inner sailing; Operations such as towing, cabotage and barge sailing; Shipping companies engaged in operating high sea vessels; Air terminal management; Private preschools, elementary schools, middle schools, high schools, higher education, and combined schools; Legal services; Credit information companies; Security rating institutions; Insurance agents; Cellular telephones; Building pipelines to transport oil and oil by-products; Oil and gas well drilling 
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