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Business accounts: Mexico

An honest assessment before work starts, the quote is fixed in writing.

Free consultation

We assess your chances against your profile, prepare the compliance file, help you present your source of funds properly and handle communication with the bank until it decides. The final decision always rests with the bank, and careful preparation improves the odds.

We quote the exact cost for this country after a short consultation: it depends on the bank and your residency. The quote is fixed in writing before work starts.

Types of business accounts in Mexico

  • Peso account, the company's main operating account for local payments, taxes and payroll.
  • US dollar account, for companies earning in dollars; banks open it under their own rules with a separate review.
  • E-wallets of regulated payment firms, to receive payments while the bank account is not yet open.

What you need before the bank

The company is registered with a notary and the public registry, and obtains a federal taxpayer number from Mexico's Tax Administration Service and an electronic signature. Corporate tax is 30%, VAT is 16%, and 8% in the border zone.

How opening an account works

StageTimeline
Company registration and tax numberfrom 2-4 weeks
File for the bank: deed of incorporation with the registry stamp, the representative's powers, tax number and tax status certificate, proof of address1-2 weeks
The representative's branch visit and the bank's reviewfrom a few days to weeks

We register the company, obtain the tax number, prepare the bank file and support the visit. While the account is being opened, we set up a regulated payment firm to receive payments.

Protection of funds in the account

Deposits in Mexican banks, including company accounts, are insured by the state bank savings protection institute up to 400,000 investment units per client per bank. The peso amount moves with inflation; on 15 September 2026 it was 3,527,537 pesos, about $194,400. If the company's working capital is larger, it makes sense to keep it in two banks.

What we do

  • Corporate account - opening assistance

See also

Company formation · Personal account · Investment property · Country taxes · All country programs

FAQ

Can a foreigner open an account for a Mexican company?
Yes, but you first need the Mexican entity itself - usually an SA de CV or S de RL de CV - incorporated before a notary, filed with the public registry, with an RFC tax number and an e.firma digital signature. Foreign shareholders are fine, but the legal representative needs Mexican tax status and a CURP, so a resident often takes that role. Without an RFC and a representative no bank will open the account.
Do I need to travel to Mexico in person?
Yes. Corporate accounts in Mexico are opened in branch: the company representative shows up with original documents, signs the agreement and is identified face to face. Remote corporate onboarding for foreigners effectively does not exist here.
What documents does a Mexican bank ask for?
The acta constitutiva stamped by the public registry, the power of attorney for the representative, the RFC and constancia de situacion fiscal, proof of company address, IDs of all signatories and the ownership chain up to the beneficial owner. Foreign documents need an apostille and a sworn translation into Spanish. The bank will also ask what the business does, who the clients are and what turnover to expect.
Is there an alternative to a bank for taking payments?
Yes - Mexico has a regulated fintech sector under the Fintech Law, and licensed IFPE providers run e-money accounts and payments that are often faster to obtain than a bank account. For payroll, taxes and large corporate counterparties you will still need a normal bank account. Treat fintech as a supplement, not a replacement.
What types of business accounts are there in Mexico?
The company's main peso account, a US dollar account for dollar revenue, and e-wallets of regulated payment firms for receiving payments.
What taxes does a company pay in Mexico?
30% corporate tax and 16% VAT, 8% in the border zone. Without a federal taxpayer number a company cannot invoice or open a bank account.
Are company funds protected in a Mexican bank?
Yes, up to 400,000 investment units per client per bank; on 15 September 2026 that was 3,527,537 pesos, about $194,400. The peso amount moves with inflation.

Need a business account with a Mexican bank?

We pick a Mexican bank for a company with a local tax number (RFC), prepare the compliance documents and guide the opening of a peso or dollar account. The catalogue covers every country.

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