You can see the rules and regulations in other jurisdictions.
Aligned with the trend for laws in Mexico, the Fintech Law and the other legislation that regulates the financial services and fintech industry are very protective of Mexican consumers and inexperienced investors. As such, while recent years have seen less restrictive regulation on foreign participation in financial markets (for example, removing foreign-ownership participation limits in banking institutions), the catalogue of activities that financial entities can carry out without a local presence is, for the most part, very limited.1
Following a similar protectionist approach, the early development of fintech services in Mexico has been marked by the necessity for regulated activities to be carried out by locally incorporated ITF entities. Both types of ITF entities must be incorporated under Mexican law, have a corporate domicile in any state within Mexico and have a physical office within the national territory.1
Foreign fintech companies may actively participate in regulated activities in Mexico only to the extent that they partner with local regulated entities. Individuals in Mexico may not be targeted by offshore entities, and no active advertising or offering of financial products or services may be carried out by offshore entities in Mexico.1
Finally, it is worth mentioning that, while there are no currency control mechanisms in Mexico, Mexican parties may discharge their obligations in any currency (including foreign currency) by paying any sums in Mexican currency at the rate fixed by Banxico on the date the payment is made.1
You can launch your platform by paying $5000 initially and the rest after 6-12 months if your business grows