The growing commercial exchange between Canada, the United States and Mexico has pushed Canadian companies to increase their operations overseas, in this way expanding the market for their products and services.
As a result, the number of Canadian companies carrying out commercial transactions in Mexico has increased overtime, allowing them to expand their investments and commercial activities in Mexico.
To accomplish this, companies often require legal documents called Powers of attorney.
What is a Power of attorney?
A power of attorney is a legal document drafted by a lawyer which allows directors, CEOs or delegates of Canadian companies or corporations to take legal steps or complete commercial transactions with third parties in Mexico on behalf of the company or corporation. Corporate powers of attorney can grant vast or limited powers to a representative of the company or be limited to administrative, financial, immigration, labor, fiscal, or other specific transactions.
The use of corporate powers of attorney for Mexico becomes a necessity when Canadian companies expand their operations in Mexico and are often required to open corporate headquarters, branches and offices in Mexico, as well as hire employees in Mexico to develop and oversee the company’s economic operations, strategies and agreements.
Corporate powers of attorney can facilitate corporate operations overseas even when the person or group of persons with the power to make decisions about the company or corporation is not available or cannot travel overseas to complete transactions when required. In this way, they can designate a person to complete transactions or take any needed steps on their behalf and on behalf of the company.
However, it is of utmost importance to make sure that a corporate power of attorney for Mexico is drafted by a lawyer who has experience drafting powers of attorney for Mexico as they are considerably different than powers of attorney for Canada. Otherwise, you may end up spending a considerable amount of money and then find out that your power of attorney is not accepted in Mexico because it has not been drafted according to the laws and rules of the country where the document is to take effect.
In Bonilla Legal Services we work together with a Mexican lawyer to ensure that your corporate power of attorney for Mexico is drafted according the laws and rules of Mexico in order to avoid having the document rejected. In this way we help you and your company save time and money.
If you have any questions or you would like to learn more about corporate powers of attorney for Mexico, please contact us by e-mail at info@bonillalegalservices.ca.
EDGAR RAMOS
Barrister, Solicitor & Notary Public
Edgar Ramos, B.A. (Hons), J.D.
Edgar is a lawyer licensed in the province of Ontario, Canada who owns and operates Bonilla Legal Services.
Edgar earned his J.D. from the University of Ottawa, Faculty of Law, and graduated Summa Cum Laude from York University, where he double majored in Psychology and Criminology.
In law school and his articles Edgar focused primarily in family and immigration law and developed an excellent understanding of their practical and theoretical aspects.
Edgar is fluent in English and Spanish and is committed to completing your matter in the fastest and cheapest possible way.
Call us: 647 483-3225
Email us: info@bonillalegalservices.ca
Location: 20 Jane Street, Unit G
Toronto, Ontario, M6S 3Y2