The ISO code of Mexico is MX according to the ISO 3166 standard. The local name of the country is Estados Unidos Mexicanos. Mexico capital city is Mexico City. People in Mexico speak the Spanish language. In the year 1864, Mexico emerged as a sovereign political entity. The largest city in Mexico is Mexico City.
Mexico has different time zones. They are UTC -08:00 (PST - Pacific Standard Time), UTC -07:00 (MST - Mountain Standard Time), UTC -06:00 (CST - Central Standard Time), UTC -05:00 (EST - Eastern standard Time).The internet country code top-level domain (ccTLD) for Mexico is .mx. The International dialing code for Mexico is 52. People in Mexico drive on the right side of the road. Total land area of Mexico is 1,964,375 km² (approx. 758,446 mi²). Mexico is not a landlocked country. It means that is is bordered by at least one major body of water.
Mexico is located in North America. Mexico is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Mexico faces various issues, including scarcity of hazardous waste disposal facilities, rural to urban migration, natural fresh water resources scarce and polluted in north, inaccessible and poor quality in center and extreme southeast, raw sewage and industrial effluents polluting rivers in urban areas, deforestation, widespread erosion, desertification, deteriorating agricultural lands, serious air and water pollution in the national capital and urban centers along US-Mexico border, land subsidence in Valley of Mexico caused by groundwater depletion.
Doing business in Mexico
We offer various corporate services in Mexico jurisdiction. These services can serve both, people coming from Mexico and foreigners. If you plan on doing business in Mexico you might be interested in contacting us.
To find out about starting your business in Mexico click on company formation in Mexico.
To find out how to open a bank account in Mexico and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Mexico.
Choose preferred service below or continue reading to find out more about Mexico.
Demographics of Mexico
The total population of Mexico is 130,759,074 people. In Mexico, the population density is 61 people per square kilometer (159 per square mile). Because of this statistic, this country is considered to be sparsely populated. The ethnic diversity is rather diverse according to a fractionalization scale which for Mexico is 0.5418. Mexico has approximately 1193155 foreign immigrants. The median age is approximately 27.3 years. In Mexico, 38.42 in every 100 people use internet. Mexico has a Human Development Index (HDI) of 0.756.
The majority religion of Mexico is Christianity, Mexico is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Mexico.
Culture of Mexico
People in Mexico speak the Spanish language. According to data on inbound tourists in Mexico, 24,151,000 tourists arrive in the country each year. The first McDonalds in Mexico was opened on 29 October 1985, and it was located in Mexico City. One of the most popular national dishes of Mexico is mole poblano. To read more click on culture of Mexico.
Geography of Mexico
Mexico is considered to be a vast nation because of its total area. Its total land area is 1,964,375 km² (approx. 758,446 mi²). Mexico is located in North America. Its capital city is Mexico City. Mexico has 3 neighbouring countries. Its neighbours include Belize, Guatemala, and United States. Total length of land borders of Mexico is 4389 kilometers (~1,695 miles).
The highest point of Mexico is Volcán Citlaltépetl (Pico de Orizaba), with its official height being 5636 m (18,492 ft). Including land mass and EEZ, the total area of Mexico is approximately 5,233,761 km² (~2,020,757 mi²). The most notable natural resources found in Mexico are petroleum, silver, copper, gold, lead, zinc, natural gas, timber.To read more click on geography of Mexico.
Economy of Mexico
The currency of the country is Mexican peso. The symbol used for this currency is Mex$, and it is abbreviated as MXN. 3.6% of population in the country are unemployed. The total number of unemployed people in Mexico is 4,707,327. Each year, Mexico exports around $370.9 billion and imports roughly $370.7 billion. The Gini Index of the country is 48.3. Mexico has a Human Development Index (HDI) of 0.756.The Global Peace Index (GPI) for Mexico is 2.53. Mexico has a government debt of 17.5% of the country's Gross Domestic Product (GDP), as assessed in 2012. Mexico is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are food and beverages, tobacco, chemicals, iron and steel, petroleum, mining, textiles, clothing, motor vehicles, consumer durables, tourism.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Mexico is $2,148,884 billion. Each year, consumers spend around $869,476 million. The ratio of consumer spending to GDP in Mexico is 0%, and the ratio of consumer spending to the world consumer market is 2.02. The corporate tax in Mexico is set at 30%. Personal income tax ranges from 1.92% to 35%, depending on your specific situation and income level. VAT in Mexico is 16%. In 2013, Mexico received 417.8 million USD in foreign aid.In 2014, the foreign aid amounted to 971.3 USD.To read more click on economy of Mexico.
Infrastructure of Mexico
Infrastructure quality in Mexico is rated to be at 3.04. It indicates a satisfactory quality - roads, railroad, ports and other facilities are able to handle significant traffic at all times and are also suited to various types of transport vehicles and vessels.
In Mexico, 99.1% of the population has access to electricity. Mexico has 1714 airports nationwide.
The logistics performance index of Mexico is 3.13. It indicates a satisfactory performance - in general, traffic is handeled well, some flaws in certain areas are possible, but overall the logistics system performs reliably and is ready to handle predictable amounts of traffic.
Tracking possibilities for shipments are rated at 3.14. It indicates a satisfactory performance - the tracking systems provide all the basic information as well as additional data about shipments; most of the times it also has a weel established cooperation with foreign and international tracking systems, as well as usually provides information in multiple languages.
The number of road motor vehicles per 1000 inhabitants in Mexico is 156. To read more click on infrastructure of Mexico.
Politics of Mexico
Mexico, is a federal presidential constitutional republic. With regard to political and civil freedoms, Mexico is 2. Citizens in Mexico experience partial freedom. While the majority of citizens are able to exercise their free will to a certain extent in Mexico, some political engagement may be limited and certain population groups may be excluded from certain freedoms or expressions. The head of the government is Enrique Peña Nieto.
According to the World Bank Group, the government effectiveness index of Mexico is 0.19. This indicates that the government of Mexico is mediocre. While some public and civil services are limited, in other cases they can be considered adequate or even effective. Potential investors should carefully evaluate the governmental situation in Mexico before considering any business maneuvers.In Mexico, the legislative power is vested in a Congress of the Union. The Global Peace Index (GPI) for Mexico is 2.53. The strength of legal rights index for Mexico is 10. Overall, it is considered to be rather strong - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders quite well; credit information is abundant and easily accessible. In 2013, Mexico received 417.8 million USD in foreign aid. In 2014, the foreign aid amounted to 971.3 USD. Mexico is a member of the United Nations (UN). On 7 November 1945, it joined the UN at it inception date as a full member state. Mexico is one of the original UN member states who founded the organization. Mexico is a member of the World Bank. To read more click on politics of Mexico.
Environment of Mexico
Mexico emits 3.9 metric tons per capita of CO2. 710000 km² of Mexico's territory is covered in forests. and forest land comprises 36% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Mexico is 156. To read more click on environment of Mexico.
Company formation in Mexico
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Mexico.
When establishing a company in Mexico, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Mexico that will affect the establishment and growth of one's business. Contact us or click on company formation in Mexico to read additional information when setting up a business.
Bank account opening in Mexico
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Mexico. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Mexico, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Mexico or contact us.