Chihuahua, Chih., April 4th, 2019.
Dear Clients and Friends,
As part of the corporate legal compliance, we kindly remind you of the company’s annual legal obligations which Mexican entities are required to fulfill according with the Mexican Legislation.
MERCANTILE CORPORATIONS LAW
Every entity (S.A. or S. de R.L. de C.V.) is obliged to hold a Shareholders/Partners Meeting during the first four months of each year, the purpose of the Meeting is to approve the past fiscal year, in this case -2018-, approving the performance of its Administration and ratifying or appointing the members of its Board of Administration or Sole Administrator, as well as the Examiner and Officers of the company, for the fiscal year 2019.
This Meeting shall be held before April 30th, 2019.
In order to draft the corresponding minute, as well as the documents it must include, we will require: i) copy of the financial statements of fiscal year 2018, ii) the names of the Board of Administration, Examiner and/or Officers, if the case, that will be appointed for the year of 2019. If at this time you have not concluded the financial statements, please let us know the result of the fiscal year 2018 (loss or profit), so we may start drafting the corresponding minute.
FOREIGN INVESTMENT LAW
All Mexican entities with foreign investment if they are in the legal scenarios pursuant such law, they are obliged to renew their registration during the first 5 (five) months of each year, pursuant the Law and its Regulation, this Report shall be filed according to their legal/corporate name, on the following terms:
If the legal/corporate name of your company begins with the letters “A” through letter “J”, the report shall be filed during April; and the companies whose names begin with letters “K” through letter “Z” it shall be filed during May.
Notaries are obligated to inform if an entity has not filed its annual renovation or if is not registered before the Foreign Investment National Registry, in which case, a notice will be performed by the Notary before the Ministry of Economy and this authority will impose a fine to the entity.
Looking forward in providing you with our legal expertise to duly comply with all the aforementioned, our law firm is prepared to provide effective and timely legal support required to comply with the annual legal obligations and prevent any related legal risk.
