The provisions published on September 10th, in the Mexican Official Gazette (the “Provisions”) mention the minimum equity requirements a fintech must comply with, depending on the activities they intend to carry out, pursuant to the following:
Regardless being authorized to perform only one type of operation, fintech that have obtained the registration of their debt securities in the National Securities Registry of the CNBV must comply with a minimum equity of 700,000 UDIS (approx. $4’270,000 MXN). Also in the event an authorized fintech desires to modify its number of operations, it must perform the appropriate corporate amendments and comply with the minimum equity requirements according to its modifications as applicable.
Finally it is important to note that companies that desire to incorporate as fintech must bear in mind that the abovementioned minimum equity requirements must be subscribed and paid in no later than the last working day of the year in which the authorization is obtained.