How to Obtain the RFC and Bank Account for a New Foreign Company in Mexico

For foreign investors setting up operations in Mexico, securing the tax-identification number (RFC, Registro Federal de Contribuyentes) and opening a corporate bank account are indispensable steps. This article outlines a clear, step-by-step guide to both processes — and situates them within the broader context of your company’s incorporation and compliance obligations.

1. Obtain the RFC for your company

Why it’s required:
Any company with a legal presence in Mexico — such as a subsidiary, branch or permanent establishment — must obtain an RFC from the Servicio de Administración Tributaria (SAT) to issue electronic invoices (facturas), pay taxes or legally operate. VATAi+2TBA Global+2

Steps:

1. After incorporation, schedule an appointment with the SAT. mexicoresidencyexperts.com+1
2. Prepare the required documentation:
   • Company’s articles of incorporation and registration certificate
   • Identification of legal representative(s)
   • Proof of address of the company in Mexico
   • In some cases, a CURP (Clave Única de Registro de Población) or equivalent for the Mexican representative. mexicoresidencyexperts.com+1
3. At the appointment, submit the documentation and complete the registration. Once approved, the SAT assigns the RFC. delvy.es+1
4. Once you have the RFC, you may need to register for VAT (IVA) and other tax obligations depending on your operations. TBA Global+1

Key considerations for foreign companies:

• If you establish a corporate presence (warehouse, branch, office) in Mexico and sell or operate locally, you almost certainly must register for an RFC. VATAi+1
• If your business model is cross-border sales without physical presence in Mexico (for example fulfilment from abroad), you may avoid Mexican RFC registration — though you must confirm with tax advisors. VATAi
• The RFC is free of charge. Possessing one does not necessarily impose tax obligations until you engage in taxable activities. damalion.com+1

2. Open a Bank Account in Mexico for Your Company

Once your company is incorporated and has an RFC (or is in the process of obtaining it), the next essential step is opening a corporate bank account.

General requirements:

• A copy of the company’s legal registration and articles of incorporation. commenda.io
• Documents for the legal representative: passport, proof of identity, and possibly proof of residence. Western Union Money Transfer+1
• Some banks may require the legal representative (or signatories) to be residents of Mexico or have a Mexican address. Confirm with each bank.
• For documents issued abroad (such as certified powers of attorney or incorporation certificates), apostille and translation into Spanish may be required. commenda.io
• You will need the company’s RFC for many banks to onboard the account, though some banks allow preliminary opening pending RFC issuance. InterNations

Step-by-step process:

1. Select a bank that accepts corporate accounts for foreign-owned entities.
2. Contact the bank branch and ask for their “corporate foreign investor” account opening checklist.
3. Submit all required documents: legal entity registration, company address in Mexico, legal representative ID, passports, proof of address, company RFC (or in progress).
4. If all is approved, fund the initial deposit (may vary by bank) and complete onboarding.
5. Once the account is active, integrate it into your operations: invoicing, payroll, payments in MXN and/or foreign currency.

Things to watch:

• Some banks require the legal representative to appear in person.
• If the company is just recently formed, the bank may impose additional documentation on beneficial owners or ask for business plan / source of funds.
• Maintain the company’s Mexican bank account in good standing—especially if you expect to receive payments in Mexico or issue invoices.

3. Relationship between the two steps

The journey flows logically: incorporation → RFC → bank account. Without a valid RFC your company might be prevented from legally issuing invoices, deducting expenses, or fulfilling Mexican compliance obligations. Without a bank account you may face obstacles paying local suppliers, employees, or complying with Mexican financial operations.

If you have already addressed “how to choose the ideal corporate structure for a foreign company in Mexico” or “what services can be outsourced vs. in-house”, you can link those articles internally to provide context.
For instance: refer the reader to “How to choose the ideal type of entity for your foreign company in Mexico” and “Key obligations for foreign companies newly constituted in Mexico” (assuming you have these pieces published).

4. External Resources

• Official SAT guidance: how to register for RFC. mexicoresidencyexperts.com+1
• Foreign-company guidance for incorporation and bank account opening: QuickCorp+1
• Guide for foreigners and companies on Mexican banking: Western Union Money Transfer+1