Checklist: How to Set Up and Operate an Asian Bank in Mexico | White & Case LLP International Law Firm, Global Law Practice
Checklist: How to Set Up and Operate an Asian Bank in Mexico

Checklist: How to Set Up and Operate an Asian Bank in Mexico

Establishing a bank in Mexico can be time-consuming and present varying detailed challenges, depending on a bank's individual circumstances. Overall, a patient, flexible approach and creative problem-solving are most likely to bring effective results. In general, Asian banks find it most useful to follow these steps:

 

1. Conduct initial informal advance meetings with Mexican authorities

Since the filling will require detailed information and analyses from the applicants, working from the beginning of the project with the relevant authorities to seek their advance feedback can help make the application significantly more efficient.

 

2. Start planning how to establish operations in Mexico

It's a good idea to begin the planning process even before submitting an application with the Comisión Nacional Bancaria y de Valores (CNBV), Mexico’s national banking and securities commission, since the new bank will have only 180 calendar days to commence operations in Mexico and prepare for an inspection by CNBV after obtaining approval of its deed of incorporation.

 

3. File an application with CNBV

CNBV, with a favorable opinion of Mexico's Central Bank, must approve the application and can request additional information during the authorization process.

 

4. Incorporate a Mexican financial institution 

The deed of incorporation, executed with a Mexican notary public, must be filed with CNBV for approval within 90 days after receiving CNBV's official approval.

 

5. Commence banking operations within 180 days 

This includes compliance with a series of difficult issues, including adjusting complex IT infrastructure systems to Mexican requirements, among other start-up challenges.

 

6. Prepare for Mexican regulators' scrutiny 

It's important to bear in mind that the new bank will face ongoing compliance with the applicable laws and regulations and inspections from the relevant banking authorities.

 

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Pacific pioneers: Asian financial institutions enter Mexico

 

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