Mexico makes for a great place to conduct business, but comes with many challenges

Mexico is one of the best places for foreign investments in Latin America, but that doesn't mean there aren't challenges to doing business in the country. 

There are many benefits to business in Mexico, including its many ports, connections to North America and South America and the size of its market, BizLatin Hub reported. The United States-Mexico-Canada Agreement also provides great benefits when doing business in Mexico. 

But there are still several challenges to doing business in Mexico, including actually starting a business. 

"While it is true that in recent years the Mexican authorities have sought ways to simplify legal and tax processes, bureaucracy is very common in the country and it can often hinder or delay the process of  establishing a company," BizLatin Hub reported.

Professional help can make the process easier, the story said. 

Professional help can assist in obtaining credit and loans, filing monthly and annual tax returns, registering public property, which can take months to do, and resolving the time-consuming legal proceedings needed. 

Immigration permits can also be difficult to obtain, often taking as long as four months, BizLatin Hub reported. Even obtaining a temporary resident visa can be an extremely long process. It can take up to eight months to obtain registration to hire foreign employees and for the employee to receive the temporary card. 

This process is constantly being updated, making it more difficult and tedious to complete. It's important to be up to date on any modified processes.  

It's also important to keep detailed records with all employees, because Mexican law is protective of employees, BizLatin Hub reported. Employers have the burden of proof in any lawsuit involving an employee, which makes it essential to make the right decisions on labor contracts and who to work with. 

The language barrier can also make things difficult. Mexico may neighbor the U.S., but most Mexicans can't speak English. Language barriers can be overcome if you seek the help of an expert who will know how to handle the language barrier situation. 

Having a legal partner can also help when doing business in Mexico, especially if they have an "in-depth understanding of Mexican law," BizLatin Hub reported.