In line with our objectives, VTZ Law Firm has developed a Doing Business in Mexico Guide with a strong focus on foreign investment in manufacturing activities. It is our goal as trusted advisors and business facilitators to guide foreign investors, providing insights in a concise manner.
Before the coronavirus outbreak, economists predicted that Mexico was heading to be the seventh economy of the world in 2050. Mexico would be growing at a 3.5% annual average rate over the next three decades, a growth rate superior to that of developed economies. Mexico’s size of the economy, demographic, sound macroeconomics, stable public finances, as well as recent amendments to strategic economic sectors have contributed to a better economic performance according to the OECD.
Today, Mexico is one of the most attractive foreign investment destinations. Besides being the 15th largest economy in the world, Mexico is a “free market” economy that is opened to international trade and foreign investment. As a result, Mexico has a highly diversified economy, modern industries, and a developed financial market. This is the result of a shift from protectionist towards liberal economic policies since the beginning of the 1990s, particularly, with the North American Free Trade Agreement.
Needless to say, there is still much work to be done to improve the general conditions of life for Mexicans, as well as for the business environment. For instance, the World Economic Forum identifies Mexico’s five most problematic factors for business: corruption, crime and theft, inefficient government bureaucracy, tax rates, and tax regulations. However, there is hope. In recent years, business facilitation measures have been in the political agenda as well as tackling corruption, which is now more relevant than ever as a result of Mexico’s modern free trade agreements (FTAs). In fact, it is clear that Mexico’s competitiveness relies on its extensive FTAs network as a pivotal force for its economic development.
Therefore, the United States-Mexico-Canada Agreement (USMCA), which entered into force in July 2020, will continue to consolidate the country as an attractive business destination as long as Mexico successfully implements said agreement.
Mexico is living a historic moment. The political map changed significantly following the general elections held in July 2018. Mexico’s president, Andrés Manuel López Obrador (AMLO), and his party, the National Regeneration Movement (Morena), have continued the trend to promote, for instance, free trade agreements, but they have also adopted new and controversial policies. For instance, Mexico’s investment and trade promotion agency, PROMEXICO, was extinguished as result of “austerity” measures.
Vázquez Tercero & Zepeda (VTZ) seeks to fill that void and promote Mexico as a business destination for international companies and foreign investors in an honest and concise manner. This is why VTZ has developed Doing Business in Mexico 2020, which is divided into seven chapters:
In these executive guides, VTZ aims to help and to provide insights regarding relevant legal topics on business, trade, tax, and labor for potential investors, that seek to reap the best out of Mexico and the manufacturing industry.
Business Law, Creating a Company in Mexico, Doing Business in Mexico, featured, Foreign Direct Investment, Guide, International Trade, labor, Manufacturing Industry, Migration in Mexico, Taxation in Mexico
COVID-19, everyone knows about it, but we are yet to find out the extent of the economic, social, and humanitarian consequences of this sanitary “tsunami”. Indeed, we live in extraordinary and complicated times caused by an unprecedented pandemic in recent history. From our perspective, the uncertainty persists and grows over the days, despite the fact that there is an abundance or excess of information, impossible to digest, produced by the digital age.
This pandemic puts the world to a test, including advisers to local and international businesses like us. Governments around the globe will react seeking to repair the damages or lessen the blow of this paralyzing wave. Businesses, meanwhile, will have to be alert and seek the relief measures available that are offered by governments in order to react in the best possible way to COVID-19’s effects. It is at this point where we and our colleagues of Alliott Group wish to offer our help in our capacity as key advisors for international businesses.
As a member of Alliott Group: Alliance of Accountants & Lawyers Worldwide, VTZ puts free at your reach relevant information on government relief measures, tax incentives or the like offered in countries due to the COVID-19 pandemic. We are convinced that having a global vision on relief measures in different parts of the world will undoubtedly help business rethink their plans and contractual commitments. To access the information, visit Alliott Coronavirus Global Resources.
In advance, VTZ prepared a summary of the following relevant events and measures that Mexico has adopted in response to COVID-19:
We, our colleagues of Alliott Group in 69 countries and VTZ, are ready to face and overcome the effects of this health crisis with you. So, tell us, how can we help?
Vázquez Tercero & Zepeda aims to consolidate and strengthen our tax law practice this decade. In order to do so, we were aware that we needed to join forces with a recognized international network. We found the ideal association, Alliott Group: Alliance of Accountants & Lawyers Worldwide, and Vázquez Tercero & Zepeda is honored to have been accepted.
With our membership, we are now even better prepared to support and advise foreign clients investing in Mexico and our clients who are doing business internationally.
Founded in 1979, and with 160 member firms in 66 countries, Alliott Group is an award-winning international association (‘alliance’) of independent accounting and law firms that need deeper levels of cross border resources to develop reputation, visibility and new business. Alliott Group provides services to help its member firms to position themselves as the ‘go to’ firms in their local markets for businesses and private individuals with multi-market business interests.
Alliott Group is expanding fast, with 19 firms having joined in 2019. The alliance has its sights set firmly on growing its legal and accounting membership to 100 countries. Opportunities are available to independent professional firms in specific countries in Central and Eastern Europe, but also in the key markets of Africa, China and the ASEAN countries, Australasia, the Gulf Cooperation Council region, Central and South America and the United States and Canada.
Established in 1973, the leading law firm is headed up by Managing Partner Mr. Adrian Vazquez. The firm has two additional equity partners, nine local partners and 27 associates and support staff, and therefore a total team of 39 people who offer exceptional legal services in Spanish, English, French, Portuguese and Chinese.
With over 45 years of experience, the Chambers & Partners and Legal 500 legal, among others, have ranked VTZ consistently over the last decade as one of Mexico’s most specialized law firms in international and customs law.
Adrian Vazquez comments:
“Our services are intended to be a strategic tool for the success of our clients’ business, particularly, in their international trade-related operations. Companies, trade associations and governments rely on our experience in trade and international matters. Our strategy for the new decade is to strengthen our tax law practice by having acquired a tax boutique firm in late 2019.
“This level of expertise positions us perfectly to help clients to master the inherent complexities of Mexico’s regulatory landscape. With our Alliott Group membership, we are now even better prepared to support and advise foreign clients investing in Mexico and our clients who are doing business internationally.”
Do not hesitate to contact us at: info[@] vtz.mx
Vázquez Tercero & Zepeda (VTZ) is ranked in Band 1 of Chambers and Partners’ Latin American 2020 Guide, sharing the spot with two other firms. For the past seven years, VTZ has established itself as a leading law firm within this ranking.
This guide notes VTZ as a “pace-setting player in international trade matters”, from antidumping investigations, verification visits, to maquiladora (IMMEX) industry. Chambers also highlights that VTZ “routinely receives mandates from acclaimed clients…”, and that sources consider VTZ as the most experienced firm in trade remedies and that the firm is “really practical and [VTZ’s] advice was very reasonable and actionable”
In addition, two VTZ partners are listed as leading lawyers and individuals in the field of International Trade/WTO Law:
As previously announced, the guide Best Lawyers considered Vázquez Tercero & Zepeda as the 2019 Trade Law Firm. As a result of such great honor, Best Lawyers interviewed our managing partner, Adrian Vázquez, to have a legal insight regarding trade developments in Mexico.
Best Lawyers CEO Phillip Greer had a conversation with Adrian Vázquez, where our partner discussed a broad range of topics, from the future of international trade in Mexico, WTO disputes, why the renegotiation of NAFTA is forcing Mexico to explore new avenues for trade such as Europe and the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP), and the ways VTZ has innovated internally to adapt to the modern world.
We highlight Adrian’s comment when commenting on CPTPP:
Once I was talking with a U.S. trade lawyer, and he told me that TPP is all about three countries, Vietnam, Vietnam, and Vietnam. So that’s something that we should be very focused on, because Vietnam is very competitive in footwear, it’s competitive in textiles, and it’s competitive in steel. And those three are very sensitive sectors in Mexico.
I would guess that we will not be exporting textiles, footwear, or steel to Vietnam. On the contrary, we will be importing textiles, footwear, and steel from Vietnam and this will open new trade remedy cases against Vietnam. First, it was China, but Vietnam will follow.
The article is available on the following link:
El 30 de noviembre de 2018 los jefes de estado Enrique Peña Nieto, Donald Trump y Justin Trudeau firmaron el TMEC (o USMCA, por sus siglas en inglés), el cual remplazó el 1 de julio de 2020 el Tratado de Libre Comercio de América del Norte (TLCAN).
El día 10 de diciembre de 2019, los tres países firmaron un protocolo modificatorio al TMEC, mismo que fue aprobado por el Senado. En el siguiente link puedes consultar el texto del protocolo:
El día 29 de junio de 2020 se publicó el texto final del TMEC en el Diario Oficial de la Federación, el cual contiene más de 1,000 páginas. En línea con nuestra misión, VTZ abogados desea facilitar a todos los interesados en tener fácilmente a su alcance el o los capítulos del TMEC que le sean de su interés.
*No obstante nuestro esfuerzo, sugerimos siempre consultar la versión del Diario Oficial de la Federación para cualquier tema oficial y para mayor certeza legal. No nos hacemos responsables de alguna omisión. Cualquier duda o comentario, no duden consultar alguno de nuestros miembros. Mayor información info[@]vtz.mx
También puedes visitar la página del USTR para consultar el texto en inglés :
On December 5, 2018, Best Lawyers, an influential lawyer ranking service in the world, announced the “Firm Award in Mexico”, in conjunction with the 10th Edition of The Best Lawyers in Mexico, in which our Managing Partner, Adrián Vázquez, and our Partner Eduardo Zepeda are recognized as the Best Mexican Lawyers in Trade Law practice. This publication awarded 12 law firms in 14 different practice areas, such as competition, intellectual property, among others.
We are proud to inform that our firm, VTZ, is recognized as the Mexican “Law Firm of the Year” in Trade Law. In VTZ, we are humbled and thank our clients that have stored their trust in us and our services. VTZ congratulates all of its team members because the results, recognition, and awards are not be possible without their hard work and professionalism.
This award encourages us to continue striving to provide top-notch legal services in international trade law matters with the sole purpose of supporting our client’s businesses.
To see the Press Release, please click here: Press Release – “Law Firm of the Year”
Trusted international law ranking agency, Who’s Who Legal, issued its “Trade & Customs 2018: Analysis“, in which it lists the world’s top trade and customs practitioners from over 45 countries.
Peers in the Mexico, the USA and Europe laud Adrián Vázquez at Vazquez Tercero & Zepeda as a “leader in this area, with really deep legal knowledge”. His expertise lies in trade remedy investigations and intentional trade matters.
After knowing about this recognition, Adrian Vázquez said that is was an honor to appear in the 2018 Who’s Who legal research in Trade & Customs.
Our Managing Partner, Adrian Vázquez is listed as leading lawyers. Furthermore, the Legal 500 recommends other five VTZ members, Eduardo Zepeda, Eduardo González Espinosa, Verónica Vázquez Bravo, Emilio Arteaga Vázquez and Hector Vázquez-Tercero. We are proud of all of our members and this result.
We invite you to visit the guide in the following link: The Legal 500 – IT&C – Mexico