Choose a structure
Most foreigners use either a Sociedad Anónima de Capital Variable (S.A. de C.V.) or the simpler Sociedad por Acciones Simplificada (S.A.S.). The S.A.S. is faster and cheaper to set up.
Get residency first
You don't strictly need to be a resident to own a Mexican company, but practical operations (opening a bank account, signing leases) require residency.
RFC and SAT
Every business needs an RFC tax ID, registered with SAT (the tax authority). The process requires Mexican residency and a Mexican phone number.
Bank account
Opening a Mexican business account requires the company papers, RFC, and your residency. Most banks require an in-person visit.
Costs
Setup costs run $1,000–3,000 USD with a notary. Annual accountant fees: $1,200–3,000 USD.