The Promotion of the Manufacturing, Maquila and
Export Service Industry (IMMEX) program allows the temporary importation of
goods that are used in an industrial process or service to produce, transform
or repair foreign goods imported temporarily for subsequent export or provision
of export services, without covering the payment of general import tax, value
added tax and, where appropriate, countervailing duties.
1. IMMEX Holding Company
Program: the manufacturing operations of a certified holding company and one or
more subsidiaries are included in the same program;
2. IMMEX Industrial
Program: goods are manufactured or transformed for subsequent export through an
industrial process;
3. IMMEX Services Program:
export goods are serviced or export services are provided, solely to develop
those activities established by the Secretariat, following review by the
Ministry of Finance and Public Credit;
4. IMMEX Shelter Program:
one or more foreign companies provide technology and production material,
without direct involvement in the Program, and
5. IMMEX Outsourcing
Program: a certified company lacks the facilities to perform production
processes itself and performs the manufacturing operations through a third
party who it registers in its Program.
The attractiveness of the IMMEX program and the fact that it is still thriving is undebatable. Just the Mexican aerospace industry received more than 4.2 billion in foreign
direct investment between 2008 and 2012, according to the Mexican Aerospace
Industry Federation, which forecasts a foreign direct investment of $1.3
billion in 2012 alone. Similarly, between
1999 and 2011, vehicle production in Mexico registered an increase of 65%, from
1.5 million units per year to more than 2.5 million. Between 2005 and 2011, cumulative foreign
direct investment in that sector was $10.3 billion and expectations for
2012 are encouraging. The biomedical,
technological, and auto-part sectors are also taking
significant advantage of the IMMEX program.
IMMEX program authorizations are generally granted if
the applicant commits to have annual sales abroad of at least US$500,000, or an
equivalent sum in pesos, or invoice exports accounting for at least 10% of
total invoices. Because of the high volume of applicable legislation (more than
12 laws and international treaties, including NAFTA) involved, it is best for
the applicant to obtain legal advice from a reputable law firm, preferably one
with cross-border expertise and capabilities, on how to obtain proper authorization and remain
compliant.
Mauricio Leon
de la Barra is an international law attorney licensed to practice law in Mexico
and California, and has more than 15 years of experience representing clients
in business and real estate transactions and litigation involving
international, U.S. and Mexican laws.