On March 27, 2017, the Mexican Minister of Economy published in the Official Gazette a decree regarding the establishment of a Legal Affairs System for Foreign Investment procedures (Sistema de Asuntos Jurídicos para la Inversión Extranjera) aimed to improve and facilitate the communication between the government and private entities.
The purpose of this system is to expedite various foreign investment procedures by giving companies the option to electronically submit the corresponding information and documentation. Some of these procedures include:
- Authorization from the Foreign Investment National Commission to buy stocks/assets
- Ruling requests on foreign trade matters
- Authorization to incorporate foreign entities in Mexico
The digital platform can be located at https://sajie.economia.gob.mx. Anyone can register under this system, but he/she must comply with the terms and conditions set forth. For example, the applicant must already be incorporated and/registered in Mexico as a tax payer, have a Mexican Tax ID number, and an electronic signature, among other requirements. Additionally, there are specifications regarding the times and dates for filing and submitting the information and documentation.
Companies using this system, should be aware that the Minister of Economy will also respond and notify the interested party through the same system. Therefore, the company should have at all times access and constant review of the email address provided for that purpose. Otherwise, some procedures may get complicated and case statue limitations apply.
This system appears to be a move in the right direction and shows the MX government’s plans to expedite and improve procedures. However, from past experience with other electronic and digital governmental platforms, the government personnel and the technological equipment or software may not always work as expected or intended. Therefore, I recommend companies take a wait and see approach before participating. Consulting with the experts about how this system is actually working is also prudent. Most companies should not participate until the software or platform appears to be working efficiently and accurately – typically after several months of implementation.