Doing Business

Doing Business in Mexico 2015

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13 Doing Business in Mexico 2015 Hints for the business visitor Visitors' visas Business visitors traveling to Mexico to plan, supervise or carry out business operations should enter the country with a non-immigrant visa as a visitor employed by a foreign company or self-employed, and is prohibited from receiving remuneration from Mexican sources. Such visas can be readily obtained from Mexican consulates in foreign countries. A simple tourist card or tourist visa in a valid passport does not authorize a foreign visitor to engage in business operations. Further information about immigration requirements for foreigners desiring to work in Mexico is given under "Foreign personnel working in Mexico" in Chapter 10. Currency Exchange Transactions involving foreign currency are not subject to any kind of exchange control, and all currencies may be freely held, transported or traded by anyone but certain reporting requirements apply to travelers and to the financial sector. The peso exchange rates quoted in Mexico as of March 2014 for transfers to and from Mexico's principal trading partners by check or other documents are shown below. 1unit = MXN USD 12.93 EUR 17.73 JFY 0.1278 GBP 22.1279 CHF 14.38 CAD 11.84 Source: Bank of Mexico / Banco de México (Banxico) International time Most of the country is on the equivalent of U.S. Central Time Greenwich Mean Time minus six hours. The far northwest of Mexico is on U.S. Mountain Time and the peninsula of Baja California is on U.S. Pacific Time, one and two hours earlier, respectively. In the summer months, Mexico is on daylight saving time. From April to October the clock is advanced one hour throughout the country. Business hours Business offices normally open at 8:30 a.m. or 9:00 a.m. for an eight-hour working day, with one or two hours for lunch. The two-hour lunch period is almost universal outside Mexico City. Some banks are open from 9:00 a.m. to 04:00 p.m. and others up to 7:00 p.m. The official working hours for government offices are 8:00 a.m. to 2:30 p.m. but have been extended to 7:00 p.m. in many departments. All these hours are for a five-day week. Factories usually open at 7:00 a.m. or 8:00 a.m. and work eight-hour shifts, with a half-day's work on Saturday, although a five-day week is in use in some cases. 1

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