Change Director Change

Use a Trusted Partner to Change
Directors your Mexican Company

Everything you need to know about Changing the Directors of your Mexican Company

What is a Corporate Director Change?

All Mexican companies have directors and legal representatives that exercise varying degrees of authority as established within the Mexican company’s articles of incorporation, by-laws and assembly resolutions. All directors are legal representatives but not all legal representatives are necessarily directors.

Directors and legal representatives may exercise one or more of the following authorities:

A Corporate Director Change is the process of either the removal or addition of a director, or a modification of their authorities. The process requires the drafting and execution of a notarized assembly resolution and registration before the Public Registry of Property and Commerce.

Additionally, any company registrations or bank accounts for which the director or legal representative has acted in representation of the company should be changed or updated.

Do I need to execute a Change of Director Resolution?

This depends. If a local director or legal representative is no longer affiliated with your organization,
the individual should be removed as soon as possible. Especially where measures must be taken to protect
against the possibility of foul-play or to mitigate risk exposure. This determination can be made on a case-by-case
basis in evaluation of the unique circumstances.

What Does a Corporate Director Change Involve?

A change in local corporate name involves the preparation of a local shareholders or members assembly resolution and the execution of the same before a Mexican notary public. It is common for the resolution to be drafted by an attorney first and then passed to a notary for execution and filing.

The new corporate director should be prepared to submit beneficial owner and KYC documentation, such as copy of an unexpired passport, social security number or tax ID, as well as general demographic information in accordance with Mexico’s transparency requirements.

How easy is it to execute a Corporate Director Change Resolution Mexico?

- MexInc makes it easy – we collect the required documentation for drafting of the assembly resolution, which may include the complete set of local corporate documents and copies of IDs.
- The document processing can take about two weeks to complete and is relatively simple.
- However, updating tax and other registrations, and also bank accounts may be necessary if the director was involved with any of the latter.

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Corporate Directors can be
changed in 3 easy steps.

Obtain copies of corporate documents and copies of IDs from document signatories.
Draft shareholders or members assembly resolution
Forward final assembly resolution document to client for signature and execution
Client forwards original signed document to MexInc for notarization and execution
Resolution is registered before the Registry of Public Property and Commerce
Change of bank account signatory and removal of previous director if applicable

Why use MexInc to assist with Changing the Ownership of your Mexican Entity?

Let the numbers speak for themselves

Service affiliations with Amazon, Mercado Libre
Hundreds of companies created

0 M+

USD in foreign direct investment in Mexico

0 Y+

Of experience advising foreign companies

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Representing more than 20 publicly traded companies

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Services provided to 4 of the highest grossing sellers on e-commerce market places world-wide

Testimonials

Our company used MexInc Consultants to incorporate our company in Mexico, find an office, recruit our employees and run our payroll, and accounting. We couldn’t be happier. The inconvenience of having one company to handle everything made the process so much easier.

We came to MexInc Consultants to import and sell our electronic products in Mexico. We are a manufacturer of high-end speaker and audio systems. MexInc not only certified our products to be sold in Mexico with their accredited laboratory, but also set up all of our logistics and importation processes.

MexInc Consultants has worked with us since 2017. We didn't know anything about this market. They did an excellent job at educating us as to the local requirements and ensured that we avoided so many challenges. Now, we obtained our textiles importers permit and distribute products to Sears and Home Depot. We couldn’t imagine a better partner of the last decade.