Doing Business in Mexico: Opening a Mexican Bank Account

When you set up a business anywhere, one of the first tasks to take care of is to set up a bank account.  Mexico has a number of banks that offer small and medium businesses checking and savings accounts, some in Pesos and some in Dollars (NOTE:  in order to open a dollar account, you have to be a certain number of kilometers from the US-Mexico border).



The requirements vary from bank to bank but here are the minimum standard requirements that you will need to open a business bank account:

• Acta constitutiva (articles of incorporation)
• Official ID (if you are a foreigner, your passport)
• FM-2 or FM-3 visa (your work or investor's visa)
• If you are not the legal representative for your company, you must have a document that testifies you can sign on behalf of the company
• Comprobante de domicilio (proof of address - must be recent, within the last month, Telmex or CFE)
• Minimum deposit (these range from bank to bank...the least I've seen is $6,000 MXN at Bancomer)
• Copy of your RFC
• Business and/or personal references

Remember to check each bank's requirements.  Bring extra copies of everything!