What is a SOFOM and why invest?
A Multiple Purpose Financial Company (SOFOM) allows you to offer credit or financing quickly and flexibly. Since it doesn't require authorization from the CNBV, it makes you an immediate player in the sector.
Key advantages
- No minimum initial capital required
- Without direct supervision from the CNBV
- Ready to issue contracts and reports
- Ideal for Fintechs, OMAs, investors and entrepreneurs
Types of SOFOM in Mexico
| Feature | SOFOM ER (Regulated) | SOFOM ENR (Non-Regulated Entity) |
|---|---|---|
| CNBV Supervision | Yes | No (only Condusef) |
| Requires bank link | Yes | No |
| Ease of incorporation | Less simple | Simpler |
| Subject to stock market regulation | Yes (if it issues securities) | No |
Benefits of establishing your SOFOM
Increased profitability
Act as the “financial arm” of your business group.
Market strengthening
Timely credit tailored to the needs of your audience.
Opening of SAPI de CV SOFOM
Attract capital from external partners with legal guarantees.
Liability optimization
Centralize liabilities in a specialized financial institution.
Robust internal control
Operating manuals, product design and AML/CFT module.
External anchor lines
Access financing from commercial and development banks.
Tax and legal benefits
Financial intermediation figure with tax advantages.
Issuance of credit cards
For your captive market, generating recurring commissions.
Stages of a Foreign Exchange Center
First stage:
Constitution and Transfer
Legal Constitution
- CONDUSEF authorization letter
- Articles of Incorporation
- RPPC registration form
- RFC registration
- E-Signature
Compliance and Procedures
- CNBV
- CONSUSEF
- Request for Technical Opinion
- Registration in SIC
Design and Corporate Structure
- Corporate Image
- Operations Manual
Transfer and Deliverables
- Service Provision Contract
- Share Purchase Agreement
- Notarization and registration of the minutes of the meeting
- Update of information in the SAT, CONDUSEF and CNBV
- Delivery of the transfer
Second stage:
Start-up and Commencement of Operations
Project Evaluation
- Present schedule of activities
- Preparation and analysis of financial projections
Definition of Products
- Submit technical sheets of possible credits to be operated
- Sectoral analysis of SOFOMES in operation
- Define credit contracts and annexes
- Registration of contracts and commissions in RECO and RECA
Start of Operation
- Initial Accompaniment
- First credit operation
Frequently Asked Questions
Do I need authorization from the CNBV?
Not for SOFOM ENR; yes for SOFOM ER or securities issue.
How long does the constitution take?
Generally 4 to 8 weeks, depending on the maturity of the entity.
Is it profitable to operate a SOFOM?
Yes: commission income, added value and specialized positioning.
