Companies must meet annual deadline to update their corporate registration certificate
29 Jan 20
IMPACT – MEDIUM
What is the reminder? Mexico requires companies employing foreign workers to update their corporate registration certificate (CRC) annually.
What does it mean? All companies employing foreign workers must update their CRC with the National Immigration Institute (INM) no later than March 31.
- Implementation time frame: Now through March.
- Visas/permits affected: All work-related visas and permits.
- Who is affected: Companies employing foreign workers, and foreign nationals applying for work-related visas and permits.
- Business impact: Companies that fail to update the CRC by the deadline may have all visas/permits placed on hold and applications rejected.
Next steps: Companies employing and hiring foreign nationals should plan to update their CRC when submitting Annual Tax Declarations for the 2019 fiscal year.
Additional information: Companies must submit their Annual Tax Declaration to the Tax Administration Service by March 31. Following receipt of tax declaration submission confirmation, they must update the CRC with the INM by the end of March. Further, the INM may visit companies or interview company representatives to verify the information submitted with the CRC update.
Analysis & Comments: Companies are encouraged to update their CRC as soon as possible after receipt of their Annual Tax Declaration confirmation and no later than March 31 date, as the Immigration Law states that the CRC must be updated once the Annual Tax Declaration is completed. If an employer’s CRC is not updated on time, the INM may delay or reject its immigration applications.
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