Decree by means of which the Ministry of Economy issues general rules on foreign trade matters

On May 9, 2022, the "Decree by means of which the Ministry of Economy issues general rules and criteria on foreign trade matters" was published in the Mexican Official Gazette, whereby several reforms in the operation of IMMEX and PROSEC programs were announced. Below are some of the noteworthy changes:

• According to Rule 3.1.1., third paragraph, the Factual Description/Dossier as a requirement for requesting a new IMMEX or PROSEC program will be optional. A written request may be made for personnel of the Ministry of Economy to visit the applicant's facilities to carry out an inspection or verification visit.

• The requirement to register a warehouse, or to register an additional domicile as part of an authorized IMMEX Program is eliminated, requiring instead an affidavit under oath, or the warehouse contract when applicable.

• A list of Public Brokers authorized by the Ministry of Economy to carry out Factual Descriptions/Dossiers to apply for IMMEX and/or PROSEC Programs is provided.

• A term of 10 business days is granted to notify the change of corporate name, Tax ID., partners and/or shareholders, legal representatives, and tax domicile of companies with an authorized IMMEX Program.

• According to Rule 3.2.16, paragraph e), export operations through virtual operations shall be considered as exports for the purposes of monthly and annual reports of foreign trade operations.

• The obligation to give notice to the Ministry of Economy 10 business days after the merger or division of companies with an IMMEX Program is incorporated.

Finally, it is worth mentioning that the new Rules will become effective as of May 10, 2022; however, up to 6 months after its entry into force, notaries public may continue to issue Factual Description/Dossiers; after such period, only Factual Descriptions issued by Public Brokerages will be accepted.

Hogan Lovells' Foreign Trade and Customs partners and associates will closely monitor the progress of these matters and keep our clients and friends timely informed.

We are at your disposal to provide any additional information and answer any questions you may have on the subject matter.

Authored by Mario Antonio Lara Rodríguez.