RESTRICTED  WORLD TRADE  
ORGANIZATION  TN/S/O/MEX/Rev.1 
5 August 2005 
 
 (05-3525) 
Council for Trade in Services 
Special Session  Original:   Spanish 
 
  
MEXICO 
 
Revised Conditional Services Offer
 
 
 
 The following revised offer was received from the delegation of Mexico on 24 June 2005 
with the request that it be circulated to th e Members of the Council for Trade in Services. 
_______________ 
  
1. Mexico submits herewith a revised conditional services offer as part of its commitments 
under the negotiations on trade in services. 
2. Pursuant to Article VI of the GATS, Mexico  reserves the right to establish, maintain and 
fully exercise its national legislation in order to  achieve legitimate policy objectives in areas such 
as consumer protection, health and the environment. Likewise, Mexico reserves the right to revise or amend this offer in the light of the outcome of the work of the Working Party on GATS Rules 
and the Working Party on Domestic Regulation.  
3. Mexico reiterates that this offer is conditi onal and that it therefore reserves the right to 
withdraw, amend or supplement a ll or part of it at any time prior to the conclusion of the 
negotiations. It also reserves the right to submit technical amendments or corrections.  
4. The offer in certain sectors is conditional upon the degree of liberalization of the other 
Members of the WTO. Likewise, the final offer could vary depending on the outcome of the Doha 
Round.   
5. Insofar as was possible, Mexico drew up its  Schedule of Commitments on the basis of the 
Services Sectoral Classification List (MTN.GNS/W /120) and in accordance with the definitions in 
the United Nations' Provisional Central Product Cla ssification. Attention should be drawn to the 
fact that several services sectors might be added once the review of consistency between the above 
classifications and the Mexican Classification of Activities and Products (CMAP) has been 
completed. 
6. In the light of Mexico's desire to promote the progressive liberalization of trade in 
services, this contribution includes, inter alia , offers in the following sectors: professional 
services, computer and related services, research and development services, real-estate services, 
distribution services, environmental services, financial services, health and social services, tourism 
and travel-related services, recreational, cultural and sporting services, maritime transport services and rail transport services.  TN/S/O/MEX/Rev.1 
Page 2 
MEXICO - REVISED CONDITIONAL OFFER 
   
 
Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
I. HORIZONTAL COMMITMENTS  
ALL SECTORS INCLUDED 
IN THIS SCHEDULE     
 (1) None  (1) None   
 (2) None (2) None   
 (3) Foreign investment in activities reserved 
for Mexican nationals must be through 
neutral shares, the purchase of which 
must be quoted on the Mexican Stock 
Exchange.  Foreign natural or legal 
persons may not acquire direct 
ownership of land and water in a 100 
km. strip along the frontiers or a 50 km. 
strip on the coastline (restricted area).  
 
 Mexican companies without a foreigner 
exclusion clause and which have signed 
the agreement referred to in Article 27.I 
of the Constitution may acquire direct 
ownership of immovable property in the 
restricted area for non-residential 
activities and must register the purchase 
with the Ministry of Foreign Affairs 
(SRE).  (3) As indicated in the market access column.   
Foreigners may not acquire direct ownership 
of land and water in a 50 km. strip on the 
coastline and a 100 km. strip along the 
frontiers.   Unbound for research and 
development subsidies and incentives to small service enterprises owned by Mexican 
nationals. 
 
 Mexicans have priority over foreigners for 
concession-granting purposes, other things 
being equal.   A concession represents 
discretional authorization by the competent 
authorities for the provision of a public 
service.   Neither the concession nor the 
rights conferred thereby may be transferred, 
mortgaged, encumbered or alienated to any 
foreign government or State, nor may the 
latter be admitted as a partner in the 
enterprise holding the concession.    TN/S/O/MEX/Rev.1
Page 3Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
  Mexican companies without a foreigner exclusion clause may not acquire direct 
ownership of immovable property in the restricted area for residential activities. Subject to the authorization of the Ministry of Foreign Affairs (SRE), such companies may only obtain the right to use and benefit from such property as trustees, without establishing real rights thereon.  
 Foreign natural or legal persons may only acquire ownership of immovable property outside the restricted area if they undertake before the Ministry of 
Foreign Affairs (SRE) to comply with the provisions of Article 27.I of the Constitution and obtain the corresponding authorization from this Ministry.  
Foreign natural or legal persons may not acquire direct ownership of immovable property in the restricted area. Subject to the authorization of the Ministry of Foreign Affairs (SRE), such persons may only obtain the right to use and benefit from such property as trustees, without establishing real rights 
thereon.    Authorization from the SRE is required for 
credit institutions to acquire as a 
fideicommissum immovable property in the 
restricted area when the beneficiaries are 
Mexican companies without a foreigner 
exclusion clause or foreign natural or legal 
persons .    TN/S/O/MEX/Rev.1 
Page 4 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
 The above  is subject to the decisions and 
resolutions issued  by the Foreign 
Investment Commission (CNIE) in 
fulfilment of its terms of reference under 
the Foreign Investment Law, including 
those resulting from an assessment of the 
applications submitted for its 
consideration (commercial presence in the 
restricted activities, as established in this 
Schedule of Commitments), and to which 
the CNIE applies criteria such as impact 
on employment and worker training; 
technological contribution; compliance 
with the environmental provisions in the 
relevant environmental legislation; and 
contribution to enhancing the 
competitiveness of the country's 
productive system, as well as criteria 
which could prevent foreign investment 
holdings for reasons of national security.    
 The Foreign Investment Commission (CNIE) is 
the body responsible for establishing foreign 
investment policy guidel ines and designing 
mechanisms to promote investment in Mexico,  
as well as a mandatory advisory body on 
foreign investment for federal public 
administration departments and agencies.  The Foreign Investment Commission (CNIE) is the 
body responsible for estab lishing foreign 
investment policy guidelines and designing 
mechanisms to promote investment in Mexico,  as 
well as a mandatory advisory body on foreign 
investment for federal public administration 
departments and agencies.    TN/S/O/MEX/Rev.1
Page 5Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
 In fulfilment of its terms of r eference, the CNIE 
establishes the criteria for implementing legal 
and regulatory foreign investment provisions by 
issuing general resolutions.  It also decides 
whether to authorize and, where appropriate, 
dictates the terms and conditions of foreign 
equit y participation in economic activities and 
acquisitions subject to specific regulations 
under the Foreign Investment Law.  In fulfilment of its terms of reference, the CNIE 
establishes the criteria for implementing legal and 
regulatory foreign investment pr ovisions by issuing 
general resolutions.  It also decides whether to 
authorize and, where appropriate, dictates the 
terms and conditions of foreign equity 
participation in economic activities and 
acquisitions subject to specific regulations under 
the Forei gn Investment Law.   
 The CNIE applies the following criteria when 
examining authorization requests:   
- The impact on employment and worker 
training;  
- the technological contribution;  
- compliance with the environmental 
provisions in the relevant environme ntal 
legislation;  and  
 - in general, the contribution to enhancing 
the competitiveness of the country's 
productive system.  The CNIE applies the following criteria when 
examining authorization requests:   
- The impact on employment and worker 
training;  
- the technological contribution;   
- compliance with the environmental 
provisions in the relevant environmental 
legislation;  and  
 - in general, the contribution to enhancing the 
competitiveness of the country's productive 
system.     TN/S/O/MEX/Rev.1 
Page 6 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
 The CNIE, when examining  the propriety of an 
application, may only impose requirements 
which do not distort international trade.  It may 
also prevent foreign in vestment holdings for 
reasons of national security.  The CNIE, when examining the propriety of an 
application, may only i mpose requirements which 
do not distort international trade.  It may also 
prevent foreign investment holdings for reasons of 
national security.   
 Finally, the CNIE shall decide on a case -by-
case basis whether or not to permit an 
acquisition or majority fo reign equity 
ownership that is subject to its review under the 
Foreign Investment Law.  Finally, the CNIE shall decide on a case -by-case 
basis whether or not to permit an acquisition or 
majority foreign equity ownership that is subject to 
its review under t he Foreign Investment Law.   
 Persons required to regi ster shall renew their 
registration  record annually, for which they 
must complete an economic -financial 
questionnaire in accordance with the respective 
regulations.  Persons required to register shall re new their 
registration record annually, for which they must 
complete an economic -financial questionnaire in 
accordance with the respective regulations.    TN/S/O/MEX/Rev.1
Page 7Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
 (4) Unbound, except fo r measures affecting 
the entry and temporary stay of natural persons in the following categories:  
(a) persons directly responsible for the 
sale of a service,  and (b) persons transferred within the same enterprise, 
provided that they  are executives, 
managers or specialists, (c) investors, 
and (d) business visitors . 
 For the purposes of this offer: (a) persons directly responsible for the sale 
of a service  means persons representing 
an enterprise that carries out an activity in a country party to the Agreement who are 
to enter Mexican territory temporarily 
(for up to 90 days) in order to sell or negotiate the sale of a service or conclude 
agreements for the sale  of the said service 
on behalf of the enterprise that they represent, provided that this does not, 
under any circumstances, constitute a 
direct sale to the general public.
 (4) Unbound, except for measures affecting the 
categories of natural persons indicated in the market access column.  The following 
activities are reserved for Mexican nationals:  
ship captains, aircraft pilots, ship masters, ship engineers, ship mechanics, crews of 
ships and aircraft under the Mexican flag, 
airport managers, harbour pilots, Customs 
brokers and train crews.    Subsidies granted 
to natural persons may be limited to Mexican citizens.  
 (b) persons transferred within the same 
enterprise  means the employees of an 
enterprise who have been employed by 
that enterprise for at least a year proceeding their temporary entry into 
Mexican territory (one year with option 
of renewal) in order to continue providing 
their services in that enterprise or a 
subsidiary thereof in accordance with the relevant national laws. This offer is 
restricted to executives, managers and 
specialists.     TN/S/O/MEX/Rev.1 
Page 8 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
 - executives are persons in an enterprise 
who primarily direct its management or establish its goals and policies or those of 
any of its main components or activities, 
exercise wide latitude  in decision-making 
and receive only general supervision and 
instructions from higher-level executives, 
the Board of Directors or shareholders of the enterprise. 
 Furthermore, authorization for entry 
and temporary stay is also granted to 
persons who manage a company as 
members of the board of directors or 
auditors.    
 - managers are persons in an enterprise 
who direct the enterprise or its 
departments or divisions, supervise and control the work of other supervisory, 
professional or managerial staff, have the 
authority to hire, dismiss and take other personnel actions and exercise 
discretionary authority over higher-level 
day-to-day operations.    TN/S/O/MEX/Rev.1
Page 9Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
 - specialists are persons within an 
enterprise who possess advanced and proprietary knowledge of the enterprise's 
production, services, research equipment, 
techniques or management.  Specialists 
include persons who possess 
technological skills or advanced 
knowledge of physical sciences, 
engineering or other natural sciences or 
who possess advanced knowledge of 
jurisprudence, economics, business 
management, accounting or other 
human sciences. 
 Activities requiring technological skills 
or advanced knowledge of natural or 
human sciences, as referred to in 
relation to the category of specialist, 
mean activities which a Mexican 
national would be unable to carry out 
without the application of technological 
skills or specialized knowledge of 
natural or social sciences gained, in 
principle, through completion of 
university education (i.e. a degree) or 
higher education.      TN/S/O/MEX/Rev.1 
Page 10 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
 (c) Investors , persons engaged in one of 
the following activities: 
(a) activities relating to investment in 
businesses in another Member 
country and the management of 
such businesses; 
(b) activities relating to the 
management of businesses in 
another Member country on behalf 
of a person other than the one from 
the other Member country who 
invested in such businesses; or 
(c) the management of businesses in 
another Member country in which 
a person other than the one from 
the other Member country has 
invested.  
(d) Short-term business visitors: persons 
who, without receiving  remuneration in 
the host country and without engaging 
in direct sales to the general public or 
supplying services themselves, make 
business contacts, including 
negotiations on the sale of goods and 
services, or other similar activities . 
 The following documentation is 
required to obtain au thorization for the 
entry and temporary stay of persons in 
this category: 
(a) proof of nationality; 
(b) documentation a ccrediting that the 
business activities specified in this 
category will indeed be conducted;  
and    TN/S/O/MEX/Rev.1
Page 11Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
 (c) proof that the national does not 
intend to enter the local labour 
market. 
 The requirement in subparagraph 
(c) above will be considered to have 
been fulfilled when the following has 
been demonstrated:  
(a) the source of remuneration 
corresponding to the specified 
business activity is outside the 
Party authorizing the entry and 
temporary stay; and 
(b) the principal place of business of 
the national and the place of 
accrual of profits is predominantly 
outside Mexico.  
 Mexico will accept an oral declaration 
as to the principal place of business and 
the actual place of accrual of profits. 
However, where further proof is 
required, a letter from the employer 
attesting to thes e matters shall 
normally be considered sufficient 
proof.      TN/S/O/MEX/Rev.1 
Page 12 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
  Authorization for the entry and 
temporary stay of persons in this 
category shall be granted for a 30-day 
period, with the possibility of 
extension. 
 Persons in categories (a), (b) and (c) of 
this subparagraph shall be granted a 
stay of one year, which may be 
extended four times for an equal period 
in each instance. 
 Notwithstanding categories (a), (b), (c) 
and (d) of the above subparagraph, 
Mexico reserves the right to require a 
national of the other Party applying for 
entry and temporary stay to obtain a 
visa or equivalent document prior to 
entry.    TN/S/O/MEX/Rev.1
Page 13Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
II. SECTOR-SPECIFIC COMMITMENTS 
1. BUSINESS SERVICES     
A. Professional Services1    
(b) Accounting, auditing and 
bookkeeping services 
(CPC 862)  (1) None 
(2) None 
(3) Direct or indirect foreign equity 
participation may not exceed 49 per cent.  
This limitation also applies to national 
treatment.  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) Foreign accounting and auditing enterprises 
must use the name of their Mexican partners. 
 
 
(4) Unbound, except as indicated in the 
horizontal section.  
(d) Consultancy and technical 
studies for architecture 
(CPC 8671)  (1) None 
(2) None 
(3) None  Foreign investment of up to 100 per 
cent of the registered capital of 
enterprises . 
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) None 
  
(4) Unbound, except as indicated in the 
horizontal section
  
(e) Consultancy and technical 
studies for engineering 
(CPC 8672)  (1) None 
(2) None 
(3) None  Foreign investment of up to 100 per 
cent of the registered capital of 
enterprises.  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) None  
 
(4) Unbound, except as indicated in the 
horizontal section.  
                                                      
1 A qualification that has been recognized or confirmed by the Ministry of Public Education (SEP) and a professional licence are  required to exercise a profession in 
Mexico.  Special requirements must be me t by engineers, architects and doctors.   TN/S/O/MEX/Rev.1 
Page 14 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
(f). Integrated engineering 
services (CPC 8673) (1) None Unbound  
(2) None (3) None  
(4) Unbound, except as indicated in the 
horizontal section.
 (1) None Unbound  
(2) None (3) None  
(4) Unbound, except as indicated in the 
horizontal section.  
(g). Urban planning and 
landscape architectural 
services (CPC 8674) 
 (1) None Unbound  
(2) None 
(3) None  
(4) Unbound, except as indicated in the 
horizontal section. (1) None Unbound  
(2) None 
(3) None  
(4) Unbound, except as indicated in the 
horizontal section.  
(h) Medical and dental 
services (CPC 9312)  (1) None 
(2) None (3) None  Foreign investment of up to 100 per 
cent of the registered capital of 
enterprises.  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None (3) None 
 
 (4) Unbound, except as indicated in the 
horizontal section.   TN/S/O/MEX/Rev.1
Page 15Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
B.  Computer and related 
services     
(a.) Consultancy services 
related to the installation 
of computer hardware 
(CPC 841)  (1) None (2) None 
(3) None 
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) None 
(4) Unbound, except as indicated in the 
horizontal section.  
(b.) Software implementation 
services 
(CPC 842 ) (1) None 
(2) None 
(3) None  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) None 
(4) Unbound, except as indicated in the 
horizontal section.  
(c) Systems analysis and data-
processing services (CPC 843) 
 (1) None (2) None (3) None  Foreign investment of up to 100 per 
cent of the registered capital of 
enterprises.  
 
 
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None (3) None  The duty
-free system with exemption 
from import duties applicable to the 
production of goods in this activity is 
intended solely for domestic p roducers 
(Computer Industry Modernization 
Programme, 1990).  
(4) Unbound, except as indicated in the 
horizontal section.  
(d). Database services 
(CPC 844) 
 (1) None 
(2) None 
(3) None  
(4) Unbound, except as indicated in the 
horizontal section. (1) None  
(2) None 
(3) None 
(4) Unbound, except as indicated in the 
horizontal section.  
(e.) Other 
(CPC 845+849)  
 (1) None 
(2) None (3) None  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None (3) None 
(4) Unbound, except as indicated in the 
horizontal section.    TN/S/O/MEX/Rev.1 
Page 16 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
C.  Research and development 
services  
(CPC 85)  
 (other than research and 
technological development 
centres)  (1) None 
(2) None (3) Foreign investment of up to 49 per cent of 
the registered capital of enterprises and 
up to 100 per c ent for research and 
technological development centres.  
This limitation also applies to national 
treatment.  
(4) Unbound, except as indicated in the 
horizontal section.  (1) None 
(2) None 
(3) As indicated in the market access column . 
None  
 
 
 
 (4) Unbound, except as indicated in the 
horizontal section.  
 Research and 
technological 
development centres 
(CPC 85103)  (1) None 
(2) None 
(3) None 
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) None 
(4) Unbound, except as indicated in the 
horizontal section. 
   TN/S/O/MEX/Rev.1
Page 17Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
D. Real estate services     
(a) Real estate services 
involving own or leased property 
(CPC 821) 
 Other than:  Real estate 
services involving own 
property (1) Unbound 
(2) None (3) None 
(4) Unbound, except as indicated in the 
horizontal section. (1) Unbound 
(2) None (3) None 
(4) Unbound, except as indicated in the 
horizontal section.  
(b.) Real estate services on a 
fee or contract basis  
(CPC 822) 
 (1) Unbound 
(2) None 
(3) None (4) Unbound, except as indicated in the 
horizontal section. (1) Unbound 
(2) None 
(3) None (4) Unbound, except as indicated in the 
horizontal section.  
E. Leasing or rental services 
without operator     
(a) Leasing or rental services 
concerning tourist vessels without operator 
(CPC 83103) 
 (1) Unbound  
(2) None 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent. 
This limitation also applies to national 
treatment. 
(4) Unbound, except as indicated in the 
horizontal section.  (1) Unbound 
(2) None 
(3) As indicated in the market access column.  
None  
  
(4) Unbound, except as indicated in the 
horizontal section.    TN/S/O/MEX/Rev.1 
Page 18 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
(b.) Leasing or rental 
services concerning 
aircraft without operator 
(CPC 83104) (1) None Unbound  
(2) None (3) None  
(4) Unbound, except as indicated in the 
horizontal section. (1) None Unbound  
(2) None (3) None 
(4) Unbound, except as indicated in the 
horizontal section.  
(c) Leasing or rental services 
concerning other means of 
transport without operator 
(other than means of 
maritime transport)  (1) Unbound 
(2) None 
(3) Direct or indirect  foreign equity 
participation may not exceed 51 49 per 
cent.  Enterprises  incorporated as 
trading companies under Mexican law 
and the corporate purpose of which 
explicitly provides for leasing  are 
required to register with the Ministry of 
Communications and Transport.  
Foreign investment may not exceed 49 
per cent of the registered capital of 
enterprises engaged in leasing or rental 
services concerning means of maritime 
transport.  
(4) Unbound, except as indicated in the 
horizontal section. (1) Unbound 
(2) None 
(3) None 
  
 
  
 
  
 
  
(4) Unbound, except as indicated in the 
horizontal section.   TN/S/O/MEX/Rev.1
Page 19Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
(c)  Leasing or rental 
services concerning 
means of maritime 
transport without 
operator  (1) Unbound 
(2) None 
(3) Enterprises incorporated as trading 
companies under Mexican law and the 
corporate purpose of which explicitly 
provides for leasing   are required to 
register with the Ministry of 
Communications and Transport . Direct 
or indirect foreign investment may not 
exceed 49 per cent of the registered 
capital of enterprises engaged in 
leasing or rental services concerning 
means of maritime transport. 
This limitation also applies to national 
treatment . 
(4) Unbound, except as indicated in the 
horizontal section . (1) Unbound 
(2) None 
(3) As indicated in the market access column . 
None  
  
 
 
 
  
 
  
 
(4) Unbound, except as indicated in the 
horizontal section.  
 - Rental of cars without 
driver 
(CPC 83101)  (1) None Unbound  
(2) None 
(3) Direct or indirect  foreign equity 
participation may not exceed 51 49 per 
cent. Enterprises  incorporated as 
trading companies under Mexican law 
and the corporate purpose of which 
explicitly provides for leasing  are 
required to register with the Ministry of 
Communications and Transport.   Car 
rental companies must have a tourist 
licence issued by the Ministry of Tourism 
(SECTUR).  
 This limitation also applies to national 
treatment . 
(4) Unbound, except as indicated in the 
horizontal section. (1) None Unbound  
(2) None 
(3) As indicated in the market access column . 
None  
 
 
  
 
 
 
  
 
 (4) Unbound, except as indicated in the 
horizontal section.     TN/S/O/MEX/Rev.1 
Page 20 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
(d) Leasing or rental services 
concerning other machinery and equipment 
without operator
 
    
 - Rental services 
concerning agricultural 
and fishery machinery 
and equipment (CPC 83106)  (1) None 
(2) None 
(3) None  Forei
gn investment of up to 49 per 
cent of the registered capital of 
enterprises.  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) None 
 (4) Unbound, except as indicated in the 
horizontal section.  
 - Rental services 
concerning industrial 
machinery and equipment 
(CPC 83109)  (1) None 
(2) None 
(3) None  Foreign investment of up to 49 per 
cent of the registered capital of 
enterprises.  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) None  
(4) Unbound, except as indicated in the 
horizontal section.  
(e) Other    
 - Rental services 
concerning electronic 
equipment for data processing 
(CPC 83108)  (1) None 
(2) None 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent. 
This limitation also applies to national 
treatment . 
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) As indicated in the market access column . 
None  
 
 (4) Unbound, except as indicated in the 
horizontal section.   TN/S/O/MEX/Rev.1
Page 21Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
 - Rental services 
concerning office and business equipment 
and furniture 
(CPC 83108)  (1) None 
(2) None (3) None  Foreign investment of up to 49 per 
cent of the registered capital of 
enterprises.  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None (3) None 
 
(4) Unbound, except as indicated in the 
horizontal section.  
 - Rental services 
concerning televisions, 
sound equipment, 
video-cassette recorders and musical 
instruments 
(CPC 83201)  (1) None 
(2) None 
(3) None  Foreign investment of up to 49 per 
cent of the registered capital of 
enterprises.  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) None 
 (4) Unbound, except as indicated in the 
horizontal section.  
 - Rental services 
concerning 
professional photographic 
equipment and 
projectors (CPC 83209) (1) None 
(2) None 
(3) None  Foreign investment of up to 49 per 
cent of the registered capital of 
enterprises.  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) None  
(4) Unbound, except as indicated in the 
horizontal section.  
 - Rental services 
concerning other machinery, equipment 
and furniture not 
mentioned above (CPC 83109) (1) None 
(2) None (3) None  Foreign investment of up to 49 per 
cent of the registered capital of 
enterprises.  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None (3) None 
 
(4) Unbound, except as indicated in the 
horizontal section.    TN/S/O/MEX/Rev.1 
Page 22 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
F. Other business services  
(a) Advertising and related 
activities (excluding 
broadcasting) 
(CPC 871)   
 
(1) None 
(2) None 
(3) Foreign investment of up to 49 per cent of 
the registered capital of enterprises. 
(4) Unbound, except as indicated in the 
horizontal section.  
 
(1) None 
(2) None 
(3) None  
(4) Unbound, except as indicated in the 
horizontal section.   
 (b) Market research services 
(CPC 8640)  (1) None Unbound  
(2) None 
(3) None  Foreign investment of up to 100 per 
cent of the registered capital of 
enterprises.  (1) None 
(2) None 
(3) None  
 (4) Unbound, except as indicated in the 
horizontal section. (4) Unbound, except as indicated in the 
horizontal section.  
(c) Management consulting 
services  (1) None (2) None 
(3) None  Foreign investment of up to 100 per 
cent of the registered capital of 
enterprises.  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) None 
 
 
(4) Unbound, except as indicated in the 
horizontal section.  
(d) Administrative formalities 
and collection services (CPC 8660)  (1) None 
(2) None (3) Foreign investment of up to 49 per cent of 
the registered capital of enterpr ises. 
Direct or indirect foreign equity 
participation in excess of 49 per cent 
requires prior authorization from the 
Foreign Investment Commission (CNIE). 
This limitation also applies to national 
treatment  
(4) Unbound, except as indicated in the 
horizontal section. (1) None Unbound  
(2) None 
(3) As indicated in the market access column . 
None  
  
 
  
 
 (4) Unbound, except as indicated in the 
horizontal section.   TN/S/O/MEX/Rev.1
Page 23Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
(e.) Technical testing and 
analysis services  (CPC 8676) 
 (1) None 
(2) None 
(3) None  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) None 
(4) Unbound, except as indicated in the 
horizontal section.  
(f) Services incidental to 
agriculture, hunting and 
forestry     
 - Professional services 
incidental to 
agriculture 
(CPC 8811)  (1) None 
(2) None 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent.  
This limitation also applies to national 
treatment  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) As indicated in the market access column . 
None  
 
 
(4) Unbound, except as indicated in the 
horizontal section.  The application of 
pesticides is reserved for Mexican nationals.  
 - Professional services 
incidental to animal 
husbandry 
(CPC 8812)  (1) None 
(2) None 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent.  
This limitation also applies to national 
treatment  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) As indicated in the market access column . 
None  
 
 
(4) Unbound, except as indicated in the 
horizontal section.  Only Mexican nationals 
may be responsible for the handling and application of chemical, pharmaceutical and 
biological substances.  
(k) Placement and supply 
services of personnel 
(CPC 8720)  (1) None Unbound  
(2) None 
(3) None  Foreign investment of up to 49 per 
cent of the registered capital of 
enterprises.  
(4) Unbound, except as indicated in the 
horizontal section. (1) None Unbound  
(2) None 
(3) None 
 (4) Unbound, except as indicated in the 
horizontal section.    TN/S/O/MEX/Rev.1 
Page 24 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
(l) Protection and guard 
services  (CPC 8730)  (1) Unbound 
(2) None 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent.  
This limitation also applies to national 
treatment  
(4) Unbound, except as indicated in the 
horizontal section. (1) Unbound 
(2) None 
(3) As indicated in the market access column . 
None  
  
(4) Unbound, except as indicated in the 
horizontal section.  
(n) Maintenance and repair of 
equipment, not including 
maritime vessels, aircraft 
or other transport equipment:    
 - Repair and 
maintenance of industrial machinery 
and equipment 
(CPC 8862)  (1) None 
(2) None (3) None  Foreign investment of up to 49 per 
cent of the registered capital of 
enterprises.  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None (3) None 
 
 (4) Unbound, except as indicated in the 
horizontal section.  
 - Repair and 
maintenance of 
professional technical equipment and 
instruments 
(CPC 8866)  (1) None 
(2) None 
(3) None  Foreign investment of up to 49 per 
cent of the reg istered capital of 
enterprises.  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) None  
 
(4) Unbound, except as indicated in the 
horizontal section.    TN/S/O/MEX/Rev.1
Page 25Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
 - Repair and 
maintenance of machinery and 
equipment for general 
use, not assignable to any specific activity 
(CPC 886)  (1) None 
(2) None (3) None  Foreign investment of up to 49 per 
cent of the registered capital of 
enterprises.  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None (3) None 
 
 (4) Unbound, except as indicated in the 
horizontal section.  
(o) Building-cleaning services 
(CPC 8740)  (1) None 
(2) Unbound* 
(3) None  Foreign investment of up to 49 per 
cent of the registered capital of 
enterprises.  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) None 
  
(4) Unbound, except as indicated in the 
horizontal section.   
(p) Photographic services 
 - Photography and 
motion-picture processing services 
(CPC 87505 and 
87506) (1) None 
(2) Unbound* 
(3) None  Foreign investment
 of up to 49 per 
cent of the registered capital of 
enterprises.  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) None  
 
(4) Unbound, except as indicated in the 
horizontal section.    TN/S/O/MEX/Rev.1 
Page 26 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
(r.) Printing and publishing 
(CPC 88442) 
Includes only:  
 
-  Publishing of books and 
similar products   
 
-  Printing and binding (other than printing of newspapers for circulation in 
Mexico alone)  
 
-  Printing, publishing and allied industries  
(other than the manufacture of printing types, as classified 
under category 3811 "casting 
and moulding of ferrous and non-ferrous metal parts")
 (1) None (2) None (3) None  
(4) Unbound, except as indicated in the 
horizontal section.  (1) None 
(2) None (3) None 
(4) Unbound, except as indicated in the 
horizontal section.    TN/S/O/MEX/Rev.1
Page 27Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
(s.  ) Convention services 
(CPC 87909*) 
 (1) Unbound * 
(2) None (3) None  
(4) Unbound, except as indicated in the 
horizontal section. (1) Unbound * 
(2) None (3) None 
(4) Unbound, except as indicated in the 
horizontal section.  
(t) Other 
 - Credit-reporting 
services 
(CPC 87901)  (1) None 
(2) None 
(3) Foreign investment of up to 49 per cent of 
the registered capital of enterprises. 
Direct or indirect foreign equity 
participation in excess of 49 per cent requires prior authorization from the 
Foreign Investment Commission 
(CNIE). 
This limitation also applies to national 
treatment  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) As indicated in the market access column . 
None  
 
  
 
  
 
(4) Unbound, except as indicated in the 
horizontal section.  
 - Speciality design 
services (CPC 87907)  (1) None 
(2) None (3) None  Foreign investment of up to 49 per 
cent of the registered capital of 
enterprises.  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None (3) None 
 
 (4) Unbound, except as indicated in the 
horizontal section.  
 - Industrial design 
services 
(CPC 86725)  (1) None 
(2) None 
(3) None  Foreign investment of up to 49 per 
cent of the registered capital of 
enterprises.  
(4) Unbound, except as indicated in the 
horizontal section (1) None 
(2) None 
(3) None 
 
 
(4) Unbound, except as indicated in the 
horizontal section.    TN/S/O/MEX/Rev.1 
Page 28 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
 - Photocopying and 
similar services (CPC 87904)  (1) None 
(2) None (3) None  Foreign investment of up to 49 per 
cent of the registered  capital of 
enterprises.  
(4) Unbound, except as indicated in the 
horizontal section (1) None 
(2) None (3) None 
 
 (4) Unbound, except as indicated in the 
horizontal section.  
(t.) Translation services 
(CPC 87905) (1) None Unbound  
(2) None 
(3) None Foreign investment of up to 100 
per cent of the registered capital of 
enterprises . 
(4) Unbound, except as indicated in the 
horizontal section (1) None Unbound  
(2) None (3) None 
 
 (4) Unbound, except as indicated in the 
horizontal section.  
(t) Washing and cleaning 
services (CPC 97011) (1) Unbound* 
(2) None 
(3) None  
(4) Unbound, except as indicated in the 
horizontal section.  (1) Unbound* (2) None 
(3) None 
(4) Unbound, except as indicated in the 
horizontal section.   TN/S/O/MEX/Rev.1
Page 29Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
2. COMMUNICATION 
SERVICES    
B.  Courier services     
 - Courier services 
(CPC 7512)  (1) Unbound 
(2) None 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent.  
The requirements la id down for each 
specific means of transport must be 
fulfilled.  
This limitation also applies to national 
treatment  
(4) Unbound, except as indicated in the 
horizontal section.  (1) Unbound 
(2) None 
(3) As indicated in the market access column . 
None  
 
 
 
  
(4) Unbound, except as indicated in the 
horizontal section.    TN/S/O/MEX/Rev.1 
Page 30 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
2.C. TELECOMMUNICATION 
SERVICES 2    
                                                      
2 Mexico reserves the right to withdraw or  amend all or part of this offer at any tim e prior to the conclusion of the negotiatio ns as the result of a dispute settlement procedure.   TN/S/O/MEX/Rev.1
Page 31Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
2.C. 
TELECOMMUNICATIONS SERVICES 
 Telecommunications 
services supplied by a 
facilities-based public telecommunications 
network (wire-based and 
radio-electric) through any existing technological 
medium included in 
subparagraphs (a), (b), (c), (f), (g) and (o). 
 
 Radio broadcasting cable 
television, DTH (direct -to-
home) and DBS (direct 
broadcast satellite) satellite 
transmission and audio 
digital services  services are 
excluded.  (1) None, except the following:  
 International  traffic may only be routed 
through the international gateway3 of a 
natural or legal person  must be routed 
through the facilities of an enterprise 
that has been granted a concession by 
the Ministry of Communications and 
Transport (SCT) to install, operate or 
use a public telecommunications 
network in national territory and 
authorized to supply long-distance 
services.  
(2) None 
(3) A concession4 from the SCT is required. 
Only enterprises established in 
conformity with Mexican law may obtain 
such a concession. 
The use or operation of Concessio ns for 
radio-electric spectrum frequency bands, 
with the exception of unlicensed bands,   
require a concession granted for specific 
uses will be granted by public invitation 
to tender.  
 Foreign governments may not participate 
in an enterprise set up under Mexican law nor obtain authorization to provide 
telecommunications services. (1) None 
   
 
  
 
 
 
  
(2) None 
(3) None  Mexico undertakes 
the obligations set out in the reference 
paper attached 
hereto.
 
                                                      
3 An international gateway is defined as th e exchange forming part of th e public telecommunications ne twork of a long-distance c oncessionaire to which a means of cross-border 
transmission is connected and th rough which international traffic originating in or terminating outside Mexican territory is ro uted. 
4 Concession:  right granted to install, operate or use a facilities-based public telecommunications network.   TN/S/O/MEX/Rev.1 
Page 32 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
  Direct foreign investment of up to 49 per 
cent is permitted in an enterprise set up in accordance with Mexican law. 
   
  Telecomunicaciones de Mexico 
(Telecomm) has exclusive rights to 
links with Intelsat and Inmarsat.   
 
 Services other than international long 
distance services which require use of 
satellite s must use the Mexican 
satellite infrastructure until the year 
2002.  
(4) Unbound, except as indicated in the 
horizontal section.  
  
 
  
 
 (4) Unbound, except as indicated in the 
horizontal section. 
  
a. Voice telephony services 
(CPC 75211, 75212) 
b. Packet-switched data 
transmission services 
(CPC 7523**)  
c. Circuit-switched data 
transmission services 
(CPC 7523**)  (1) None, except As indicated  in 2.C.1). 
(2) None 
(3) As indicated in 2.C.(3). (4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) None (4) Unbound, except as indicated in the 
horizontal section.
   TN/S/O/MEX/Rev.1
Page 33Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
f. Facsimile services 
(CPC 7521**+7529**) (1) None , except as indicated in 2.C.1).  
(2) None 
(3) None As indicted in 2.C. (3). 
A permit issued by the SCT is required 
to provi de a public facsimile service.   
Only enterprises set up in accordance 
with Mexican law may obtain such a 
permit.  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None (3) None 
 
  
 
 
(4) Unbound, except as indicated in the 
horizontal section.  
g. Private leased circuit 
services  
(CPC 7522**+7523**) (1) None, except As indicated  in 2.C.1). 
The resale of private leased circuits to 
private networks is not authorized in 
Mexico.  
(2) None 
(3) As indicated in 2.C.(3). 
Operators of private networks wishing to exploit services commercially must 
obtain a concession from the SCT, 
whereupon such networks assume the character of public telecommunications 
networks. 
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
 
 
 (2) None 
(3) None 
  
 
  
 
(4) Unbound, except as indicated in the 
horizontal section.    TN/S/O/MEX/Rev.1 
Page 34 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
o. Other 
- Paging services 
(CCP75291) (1) None, except As indicated  in 2.C.1). 
(2) None (3) As indicated in 2.C.(3). 
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None (3) None 
(4) Unbound, except as indicated in the 
horizontal section.  
-  Mobile telephone services 
(75213**)  on the "A" 
and "B" bands 5 (1) None, except As indicated  in 2.C.1). 
(2) None 
(3) As indicated in 2.C.(3). 
 Foreign investment in excess of 49 per 
cent of an enterprise's capital requires 
authorization from the Foreign 
Investment Commission. 
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) None 
  
 
 (4)  Unbound, except as indicated in the 
horizontal section.  
- Commercial agencies 6 (1) None, except As indicated  in 2.C.1). 
(2) None 
(3) None except:  A permit issued by the 
SCT is required. Only enterprises set up in accordance with Mexican law may 
obtain such a permit. 
 
 Foreign governments may not participate 
in an enterprise set up under Mexican law nor obtain authorization to provide 
telecommunications services. 
  Except where specifically approved by 
the SCT, public telecommunications 
network concessionaires may not participate, either directly or indirectly, in 
the capital of a commercial agency. (1) None 
(2) None 
(3) None  
                                                      
5 Frequencies 825 835/870 880 and 835 845/880 890 Mhz  . 
6 Agencies which, without owning transmissi on media, provide third parties with teleco mmunications services by using capacity lea sed from a public netw ork concessionaire.  TN/S/O/MEX/Rev.1
Page 35Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
  The establishment and operation of 
commercial agencies is invariably subject to the respective regulations.   The SCT 
will not grant permits for the 
establishment of a commercial agency until the corresponding regulations are 
issued. 
(4) Unbound, except as indicated in the 
horizontal section.  
  
 
  
 
(4) Unbound, except as indicated in the 
horizontal section.  
o) Other telecommunications 
services  Value-added services 
(Services employing a 
public 
telecommunications 
network and which affect 
the format, content, 
coding, protocol, storage 
or similar aspects of a 
customer’s transmitted 
information, which 
provide customers with 
additional, different or 
restructured information 
or which involve 
customer interaction with 
stored information.) 7 (1) A permit is required to provide 
services using radio -electric space.   
Registration with the Federal 
Telecommunications Commission A 
permit from the SCT to establish 
private networks and  is required to 
supply value-added services.  The 
central equipment and systems for 
providing special telecommunications 
services must be located in Mexican 
territory.  
 
 Foreign value-added services destined 
for Mexican territory may only be routed 
to and provided in Mexico through the 
infrastructure or facilities of a public 
telecommunications network 
concessionaire.  (1) None  
                                                      
7 Services employing the transmission infras tructure belonging to the service provider  for their establishment, operation or use  do not constitute value-added 
services unless the service provider has the corresponding conce ssion or permit to establish, operate or use a public telecommu nications network. Value-added services shall 
not be considered to include services the supply of which requires a concession or permit, including, but not restricted to, th e following services: local voice telephony, 
independently of the technology used (VoIP) ; long-distance telephony; simple resale of private leased circuits; cellular teleph ony; mobile or fixed radio telephony; cable 
television, microwave-restricted television and satellite-restr icted television; paging; specialized fleet radio-communications ; private or maritime radio-communications; 
restricted radio; data transmi ssion, video-conferencing and ra dio-localization of vehicles.    TN/S/O/MEX/Rev.1 
Page 36 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
 (telecommunication 
services employing 
computer -processing 
systems that:  (a) act on 
the format, content, 
protocol or similar 
aspects of a cu stomer’s 
transmitted information;  
(b) provide a customer 
with addition al, different 
or restructured 
information;  or (c) 
involve customer 
interaction with stored 
information).  (2) None 
(3) Foreign investment only up to 49 per 
cent of the registered capita l of 
enterprises.   A permit is required to 
provide services using radio -electric 
space.   A permit from the SCT to 
establish private networks and   
Registration with the Federal 
Telecommunications Commission is 
required to supply value-added services. 
 
 Ther e is an exclusive provider of 
airline computer reservation services.  
Thirty per cent of th e excess capacity of 
private circuits may be rented or sold.   
A permit from the SCT is required for 
cross-border connections, through which  
and long -distance  services for third 
parties users  are prohibited.  Only 
concessionaires or persons expressly 
authorized by the SCT may install cross-
border telecommunications equipment 
and transmission means.  (2) None 
(3) None  
 (4) Unbound, except as indicated in the 
horizontal section. (4) Unbound, except as indicated in the 
horizontal section.   TN/S/O/MEX/Rev.1
Page 37Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
D. Audiovisual services     
(a) Private motion-picture 
production services (CPC 96112)  (1) None 
(2) None 
(3) Foreign investment of up to 49 100 per 
cent of the registered capital of 
enterprises.  None,  except  that the 
screening of  any film requires 
authorization and classification a 
permit issued by the Ministry of the 
Interior (SG).  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None (3) None 
 
  
 
 
(4) Unbound, except as indicated in the 
horizontal section.  The Actors' Union 
requires that a Mexican be hired for every 
foreigner hired for a given activity.    
(b) Private motion-picture 
projection services 
(CPC 96121)  (1) None 
(2) None 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent. Film screening requires a permit issued 
by the Ministry of the Interior (SG).    
Distributors of films produced in and  
outside and in Mexico must donate a 
copy of each imported film title to the 
National Film Library.  
This limitation also applies to national 
treatment  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) 30  10 20 per cent of total screen time must be 
reserved for devoted to  domestic Mexican 
films.  For each copy screened in Mexico, a 
copy must be processed in a Mexican 
laboratory, with the exception of foreign 
films of which not more than six copies are 
marketed. 
 
 
 
(4) Unbound, except as indicated in the 
horizontal section.     TN/S/O/MEX/Rev.1 
Page 38 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
3. CONSTRUCTION AND 
RELATED ENGINEERING 
SERVICES    
A. General construction work 
for buildings      
  - Residential or housing 
building 
(CPC 5121 and 5122) (1) Unbound 
(2) Unbound* 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent.  
This limitation also applies to national 
treatment  
(4) Unbound, except as indicated in the 
horizontal section.  (1) Unbound 
(2) Unbound* 
(3) As indicated in the market access column . 
None  
 
 (4) Unbound, except as indicated in the 
horizontal section.  
 - Non-residential 
buildings 
(CPC 5124, 5127 and 
5128) (1) Unbound 
(2) Unbound* 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent.  
This limitation also applies to national 
treatment  
(4) Unbound, except as indicated in the 
horizontal section. (1) Unbound 
(2) Unbound* 
(3) As indicated in the market access column . 
None  
 
 
(4) Unbound, except as indicated in the 
horizontal section.   TN/S/O/MEX/Rev.1
Page 39Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
B. General construction work 
for civil engineering  
 - Construction of urban 
development works 
(CPC 5131 and 5135)  
  
(1) Unbound 
(2) Unbound* 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent.  
This limitation also applies to national 
treatment  
(4) Unbound, except as indicated in the 
horizontal section.  
  
(1) Unbound 
(2) Unbound* 
(3) As indicated in the market access column . 
None  
 
 
(4) Unbound, except as indicated in the 
horizontal section.  
 - Construction of 
industrial buildings 
(excluding electric power stations and 
plants for the piping of 
oil and oil products) (CPC 52121)  (1) Unbound 
(2) Unbound* 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent.  
This limitation also applies to national 
treatment  
(4) Unbound, except as indicated in the 
horizontal section. (1) Unbound 
(2) Unbound* 
(3) As indicated in the market access column . 
None  
 
 (4) Unbound, except as indicated in the 
horizontal section.    TN/S/O/MEX/Rev.1 
Page 40 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
 - Other construction 
(excluding construction of maritime and river 
works, highway and 
transport works and track construction) 
(CPC 52269)  
 
Other than shared risk contracts 
related to the exploitation and 
drilling of oil and gas wells and 
the construction of pipelines for 
petroleum and refined oil 
products.  (1) Unbound 
(2) Unbound* 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent.  
This limitation also applies to national 
treatment  
(4) Unbound, except as indicated in the 
horizontal section. (1) Unbound 
(2) Unbound* 
(3) As indicated in the market access column . 
None  
  
(4) Unbound, except as indicated in the 
horizontal section.  
D. Building completion and 
finishing work     
 - Electrical, plumbing 
and drainage installations in 
buildings (excluding 
telecommunication 
installations and other 
special installations) (CPC 5161-5164)  (1) Unbound 
(2) Unbound* 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent. 
This limitation also applies to national 
treatment  
(4) Unbound, except as indicated in the 
horizontal section. (1) Unbound 
(2) Unbound* 
(3) As indicated in the market access column . 
None  
 
 
(4) Unbound, except as indicated in the 
horizontal section.   TN/S/O/MEX/Rev.1
Page 41Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
E. Other  
 - Special work, 
including earth 
moving, foundations, 
underground excavation, under-
water work, signalling 
and protection 
installations, 
demolition, construction of 
drinking water or water 
treatment plants (excluding sinking of 
oil, gas and water 
wells) (CPC 511 and 515)  
 
(1) Unbound 
(2) Unbound* 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent.  
Services relating to visual and electronic 
aids for runways are subject to approval 
and authorization by the Ministry of 
Communication and Transport (SCT). 
This limitation also applies to national 
treatment  
(4) Unbound, except as indicated in the 
horizontal section. 
  
 
(1) Unbound 
(2) Unbound* 
(3) As indicated in the market access column . 
None  
 
 
 
  
 
(4) Unbound, except as indicated in the 
horizontal section.     TN/S/O/MEX/Rev.1 
Page 42 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
4. DISTRIBUTION 
SERVICES    
A. Commission agents' 
services  (CPC 621) 
 A. Commission agent's 
services (621 ) 
Includes only:  
Commission agents' services  
(also includes sales 
representatives not considered 
part of the salaried personnel 
of a particular establishment) (1)  None 
(2)  None 
(3)  None  
(4)  Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) None 
(4) Unbound, except as indicated in the 
horizontal section.  
B. Wholesale trade services     
 - Wholesale trade of 
non-food products, including animal feed 
(excluding petroleum-
based fuels, coal, firearms, cartridges and 
ammunition) 
(CPC 622)  (1) None 
(2) None (3) None  Foreign investment of up to 100 per 
cent of the registere d capital of 
enterprises.  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None (3) None 
 
 (4) Unbound, except as indicated in the 
horizontal section.  
 - Wholesale trade 
services of food, beverages and tobacco 
(CPC 6222)  (1) None 
(2) None (3) None  Foreign investment of up to 100 per 
cent of the registered capital of 
enterprises.  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None (3) None 
 
 (4) Unbound, except as indicated in the 
horizontal section.   TN/S/O/MEX/Rev.1
Page 43Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
C. Retail trade services  
 - Retail sales of food, 
beverages and tobacco 
in specialized 
establishments (CPC 6310)   
 
(1)  None 
(2)  None 
(3)  None  Foreign investment of up to 100 per 
cent of the registered capital of 
enterprises.  
(4)  Unbound, except as indicated in the 
horizontal section.  
 
(1) None 
(2) None 
(3) None  
 
(4) Unbound, except as indicated in the 
horizontal section.  
 - Retail sales of food 
products in supermarkets, self-
service stores and 
shops (CPC 6310)  (1) None 
(2) None 
(3) None, except that  Foreign investment of 
up to 100 per cent of the registered 
capital of enterprises   trade union and co-
operative stores do not allow foreign 
investment. 
This limitation also applies to national 
treatment  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) As indicated in the market access column . 
None  
  
 
  
(4) Unbound, except as indicated in the 
horizontal section.  
 -- Retail sales of non-
food products in 
department stores and shops 
(CPC 632)  (1) None 
(2) None 
(3) None, except that  Foreign investment of 
up to 100 per cent of the registered 
capital of enterprises   trade union and co-
operative stores do not allow foreign investment. 
This limitation also applies to national 
treatment  
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) As indicated in the market access column . 
None  
 
  
 
 
(4) Unbound, except as indicated in the 
horizontal section.    TN/S/O/MEX/Rev.1 
Page 44 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
 - Retail sales of motor 
vehicles, including tyres and spare parts 
(CPC 61112)  (1)  None 
(2)  None 
(3)  None, except that  Foreign investment of 
up to 100 per cent of the registered 
capital of enterprises   trade union and co-
operative stores do not allow foreign 
investment. 
This limitation also applies to national 
treatment . 
(4)  Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) As indicated in the market access column . 
None  
  
 
  
(4) Unbound, except as indicated in the 
horizontal section.  
 - Retail sales of non-
food products in 
specialized 
establishments (excluding retail sales 
of liquefied fuel gas, 
charcoal, coal and other non-petroleum-
based fuels, paraffin 
and tractor vaporising 
oil (TVO), gasoline 
and diesel, firearms, cartridges and 
ammunition) 
(CPC 6329)  (1)  None 
(2)  None 
(3)  None, except that  Foreign investment of 
up to 100 per cent of the registered 
capital of enterprises   trade union and co-
operative stores do not allow foreign 
investment. 
This limitation also applies to national 
treatment  
(4)  Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) As indicated in the market access column . 
None  
 
 
  
 
(4) Unbound, except as indicated in the 
horizontal section.   TN/S/O/MEX/Rev.1
Page 45Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
5.  PRIVATE EDUCATION 
SERVICES    
A. Primary education services
(CPC 921) (1)  None 
(2)  None 
(3)  Direct or indirect  foreign equity 
participation may not exceed 49 per cent. Authorization is required from the 
Ministry of Public Education (SEP) or the 
State authority. 
This limitation also applies to national 
treatment  
(4)  Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) As indicated in the market access column . 
None  
 
 
 
 
 (4) Unbound, except as indicated in the 
horizontal section.  
B. Secondary education 
services  
(CPC 922)  (1)  None 
(2)  None 
(3)  Direct or indirect  foreign equity 
participation may not exceed 49 per cent. Authorization is required from the 
Ministry of Public Education (SEP) or the 
State authority.  
This limitation also applies to national 
treatment  
(4)  Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) As indicated in the market access column . 
None  
 
 
  
 
(4) Unbound, except as indicated in the 
horizontal section.  
C. Higher education services  
(CPC 923)  (1) None 
(2) None 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent. 
Authorization is required from the 
Ministry of Public Education (SEP) or the 
State authority.  
This limitation also applies to national 
treatment 
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) As indicated in the market access column . 
None  
 
 
  
 
(4) Unbound, except as indicated in the 
horizontal section.    TN/S/O/MEX/Rev.1 
Page 46 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
E. Other education services : 
 - Language education, 
special education and 
commercial training 
(CPC 9290)   
(1)  None 
(2)  None 
(3)  None, except that Foreign investment 
of up to 100 49 per cent  of the 
registered capital of enterprises.  
authorization is required from the 
Ministry of Public Education (SEP) or the State authority. 
(4)  Unbound, except as indicated in the 
horizontal section.  
(1) None 
(2) None 
(3) None 
  
 
  
(4) Unbound, except as indicated in the 
horizontal section.  
6. ENVIRONMENTAL 
SERVICES8    
A. Sewage services 
(CPC 9401)  (1) Unbound 
(2) None 
(3) No restrictions at federal level. 
Unbound at State and municipal level. 
(4) Unbound, except as indicated in the 
horizontal section. (1) Unbound 
(2) None 
(3) No restrictions at federal level. Unbound 
at State and municipal level. 
(4) Unbound, except as indicated in the 
horizontal section.  
C. Sanitation services 
(CPC 94030) (1) Unbound 
(2) None 
(3) No restrictions at federal level. 
Unbound at State and municipal level. 
(4) Unbound, except as indicated in the 
horizontal section. (1) Unbound 
(2) None 
(3) No restrictions at federal level. Unbound 
at State and municipal level. 
(4) Unbound, except as indicated in the 
horizontal section.  
                                                      
8 The level of disaggregation of each of this sector's subsectors in interpreted in accordance with  Mexico's domestic legislative  framework and may not 
correspond exactly to the stated CPC classification;  Mexico th erefore reserves the right to further clarify Duch levels in the  course of the negotiations.  TN/S/O/MEX/Rev.1
Page 47Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
7. FINANCIAL 
SERVICES    
A. All insurance and 
insurance-related services     
a. Life, accident and health 
insurance services (CPC 8121) 
b. Non-life insurance 
services 
(CPC 8129) (1) Unbound    
(2) Unbound    
(3) This activity may be carried out by 
established insurance institutions.  
Foreign investors in insurance 
institutions in which Mexicans hold a 
majority interest may hold up to 
40 49 per cent of paid-up social capital 
and  up to 30 per cent  up to 100 per 
cent of additional paid -up non -voting 
limited-voting social capital, equivalent 
to 30 per cent of common stock .  
Foreign investment by governments , and 
official agencies  or legal persons 
exercising governmental functions is not 
allowed. The limit on individual holdings 
by foreign investors is 10 per cent of  
paid-up capital or up to 20 per cent of 
paid-up capital with authorization from 
the Ministry of Finance and Public Credit 
(SHCP).   Management and  effective 
control of the enterprise by the Mexican shareholders is required. 
(4) Unbound, except as indicated in the 
horizontal section . Unbound
 (1) Unbound    
(2) Unbound    
(3) None 
 
 
 
  
 
  
 
  
 
  
 
  
 
  
(4) Unbound, except as indicated in the 
horizontal section.  Unbound
    TN/S/O/MEX/Rev.1 
Page 48 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
c. Reinsurance and 
retrocession services (CPC 81299*) (1) Foreign reinsurance companies may 
participate in reinsurance operations.  According to the applicable regulations, 
such companies are required to register 
with the Ministry of Finance and Public Credit (SHCP), which may authorize or 
refuse registration. 
(2) Unbound    
(3) This activity may be carried out by 
established  insurance institutions.  
Foreign investors in insurance 
institutions may hold up to 49 40 per cent 
of paid-up  social capital and  up to 100 
per cent of additional up to 30 per cent 
of paid -up non -voting limited-voting 
social capital,  equivalent to 30 per cent 
of common stock .  Foreign investment 
by governments , and official agencies  or 
legal persons exercising governmental 
functions is not allowed.  The limit on 
individual holdings by foreign investors is 
10 per cent of paid -up capital or up to 20 
per cent of paid -up capital with 
authorization from the Ministry of 
Finance and Public Credit (SHCP) . 
Management and  effective control of the 
enterprise by the Mexican shareholders is 
required. Foreign reinsurance companies on the SHCP register may establish 
representative offices in the country with 
the prior authorization of this Ministry. 
 (1) None   
 
  
 
(2) Unbound    
(3) None 
 
  
 
  
 
  
 
 
 
  
 
  
 
  
 
  
  Representative offices of foreign 
reinsurance companies, according to the 
applicable regulations, may not act 
directly or through an intermediary in 
direct insurance operations. 
(4) Unbound, except as indicated in the 
horizontal section .Unbound   
 
 
  
(4) Unbound, except as indicated in the 
horizontal section .Unbound
   TN/S/O/MEX/Rev.1
Page 49Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
d . Services auxiliary to 
insurance such as: 
 - insurance broking and 
agency services 
(CPC 8140)  (1) Unbound    
(2) Unbound    
(3) Foreign investors may hold up to 49 40 
per cent of paid -up capital stock and up 
to 30 per cent of non -voting paid -up 
capital. .  The limit of 3 0 per cent of non -
voting paid -up capital is not applicable; 
where appropriate, the AGM is 
responsible for establishing the 
corresponding percentage.  Foreign 
investment by governments, and  official  
agencies  or legal persons exercising 
governmental functions is not allowed. 
The limit on individual holdings by 
foreign investors is 10 per cent of paid -up 
capital or up to 20 per cent of paid -up 
capital with authorization from the 
Ministry of Finance and Public Credit 
(SHCP).   Management and  effective 
control of the enterprise by the Mexican 
shareholders is required. 
(4) Unbound, except as indicated in the 
horizontal section . Unbound.  (1) Unbound    
(2) Unbound    
(3) None 
 
   
 
             
(4) Unbound, except as indicated in the 
horizontal section . Unbound
  
B. Banking and other financial services  (excluding insurance) 
 Mexican financial intermediaries in which foreign investment is allowed include:  multiple banking institutions (commercial ba nks), securities firms, securities 
specialists, limited-purpose financial institutions, financial fact oring companies, financial leasing companies, general deposi t warehouses, foreign exchange 
firms, investment companies, managing companies of investment  companies, guarantee institutions (bonding companies), pension fu nd management 
companies, the stock exchange, central counterparty and securities deposit institutions . 
 Foreign financial institutions, such as banks  and securities firms, may establish repr esentative offices in Mexico with the pr ior authorization of the Ministry of 
Finance and Public Credit (SHCP).    Representative offices ma y not act as financial intermediaries, nor promote acceptance of funds by the firms they 
represent, but solely engage in placement. 
 In accordance with the app licable legislation, foreign invest ment is not permitted in credit unions, savings and loan companie s or development banking 
institutions.   TN/S/O/MEX/Rev.1 
Page 50 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
a. Acceptance of deposits 
and other repayable funds from the public 
(CPC 81115-81119) (1) Unbound   
(2) Unbound   (3) This activity is restricted to multiple 
banking institutions.  Foreign investors 
may hold up to 49 40
 per cent of common 
stock capital and up to 100 per cent of the 
additional limited-voting capital 
representing  equivalent to  40 per cent of 
non-limited -voting common stock.  
 
 Foreign investment by governments, 
official agencies or artificial  persons 
exercising governmental functions is not 
allowed.  Individual holdings of more 
than The limit on individual holdings by 
foreign investors is five per cent of 
capital stock or up to 20 per cent  of 
capital stock with  require prior  
authorization from the Ministry of 
Finance and Public Credit (SHCP).   
Effective control of the enterprise by 
the Mexican shareholders is required.  
 
 In accordance with the applicable 
financial legislation, representative offices of banking institutions are 
excluded from this activity. 
(4) Unbound, except as indicated in the 
horizontal section Unbound
 (1) Unbound   
(2) Unbound   (3) None 
 
  
 
  
 
  
 
  
 
  
 
 
 
  
 
  
 
(4) Unbound, except as indicated in the 
horizontal section U
nbound     TN/S/O/MEX/Rev.1
Page 51Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
b. Lending of all types, 
including, inter alia , 
consumer credit, mortgage 
credit, factoring and 
financing of commercial transactions 
(CPC 8113) (1) Unbound 
(2) Unbound (3) Multiple banking institutions may carry 
out lending activities of all types, 
including consumer and mortgage credit, credit discounting and financing of 
commercial transactions. Foreign 
investors may hold up to 49 40
 per cent of 
common stock capital and up to 100 per 
cent of the additional limited-voting 
capital representing  equivalent to  40 per 
cent of non -limited -voting common stock.   
Foreign investment by governments, 
official agencies or  artificial persons 
exercising governmental functions is not 
allowed.  Individual holdings of more 
than The limit on individual holdings by 
foreign investors is five per cent of capital 
stock or up to 20 per cent of capital stock 
with require prior authorization from the 
Ministry of Finance and Public Credit 
(SHCP).   Effective control of the 
enterprise by the Mexican shareholders 
is required.  (1) Unbound 
(2) Unbound (3) None    TN/S/O/MEX/Rev.1 
Page 52 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
  Limited-purpose financial institutions 
may carry out only one financing activity, such as personal credit, consumer credit, 
mortgage credit or commercial credit.  
Foreign investors may hold up to 49 per cent of capital stock.  Foreign investment 
by governments, official agencies or 
artificial persons exercising governmental functions is not allowed.  Effective 
control of the enterprise by the Mexican 
shareholders is required.
 
 
 Financial factoring companies may carry 
out factoring activities.  Foreign investors 
may hold up to 49 per cent of paid -up 
capital stock and up to 30 100 per cent of 
paid -up capital  non- limited -voting 
shares, representing 30 per cent of 
capital stock.   Foreign investment by 
governments, official agencies or  
artificial persons exercising governmental 
functions is not allowed.  The limit on individual holdings is 10 per cent of paid-
up capital; above this amount, 
authorization is required from the 
Ministry of Finance and Public Credit 
(SHCP) .  Effective control of the 
enterprise by the Mexican shareholders is required. 
(4) Unbound, except as indicated in the 
horizontal section . Unbound
  
  
 
  
 
  
 
  
 
  
 
  
 
 
 
  
 
  
 
  
(4) Unbound, except as indicated in the 
horizontal section . Unbound
   TN/S/O/MEX/Rev.1
Page 53Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
c. Financial leasing services 
with purchase option (CPC 8112) (1) Unbound   
(2) Unbound   (3) Financial leasing companies may carry 
out financial leasing activities. 
Foreign investors may hold up to 49 per 
cent of paid -up capital stock and up to 
30 100 per cent of paid -up capital  non- 
limited -voting shares, representing 
30 per cent of capital stock.   Foreign 
investment by governments, official 
agencies or  artificial persons exercising 
governmental functions is not allowed. 
The limit on individual holdings is 10 per 
cent of paid-up capital;  above this 
amount, authorization is required from 
the Ministry of Finance and Public 
Credit (SHCP) .  Effective control of the 
enterprise by the Mexican shareholders is 
required. 
 
 Multiple banking institutions may carry 
out financial leasing activities.  Foreign investors may hold up to 49 40
 per cent of 
common stock capital and up to 100 per 
cent of the additional limited-voting 
capital representing  equivalent to  40 per 
cent of non -limited -voting common stock.   
Foreign investment by governments, 
official agencies or  artificial persons 
exercising governmental functions is not allowed. 
 (1) Unbound   (2) Unbound   (3) None     TN/S/O/MEX/Rev.1 
Page 54 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
  Individual holdings of more than The 
limit on individual holdings by foreign 
investors is  five per cent of capital stock 
or up to 20 per cent of capital stock with  
require prior  authorization from the 
Ministry of Finance and Public Credit 
(SHCP). Effective control of the 
enterprise by the Mexican 
shareholders is required.  
(4) Unbound, except as indicated in the 
horizontal section.  Unbound   
  
 
  
 
  
(4) Unbound, except as indicated in the 
horizontal section.  Unbound
  
d. All payment and money 
transmission services 
(CPC 81339**) (1) Unbound 
(2) Unbound 
(3) Multiple bankin g institutions may 
provide payment and money transmission services.  Foreign 
investors may hold up to 49 per cent of 
common stock capital and up to 100 
per cent of the additional limited-voting 
capital representing  equivalent to  
40 per cent of limited -voting common 
stock.   Foreign investment by 
governments, official agencies or  
artificial persons exercising 
governmental functions is not allowed. 
Individual holdings of more than five per cent of capital stock require 
authorization from the Ministry of 
Finance and Public Credit (SHCP).  
Effective control of the enterprise by 
the Mexican shareholders is required.  
(4) Unbound, except as indicated in the 
horizontal section. (1) Unbound 
(2) Unbound 
(3) None  
  
 
  
 
 
 
  
 
  
 
  
(4) Unbound, except as indicated in the 
horizontal section.    TN/S/O/MEX/Rev.1
Page 55Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
f. Trading on own or 
customers' account on a stock exchange, over-the-
counter market or 
otherwise, in: 
 - Money market 
instruments (cheques, 
bills, certificates of 
deposit, etc.) 
(CPC 81339**)  
  
 
  
(1) Unbound 
(2) Unbound 
(3) Securities firms and securities specialists 
may carry out this activity.   Foreign investors may hold up to 
100 0
 per cent of common stock capital 
and up to 100 per cent of the additional  
capital representing 40 per cent of non- 
limited -voting  common stock .   Foreign 
investment by governments, official 
agencies or  artificial persons exercising 
governmental functions is not allowed.  
Individual holdings of more than five 
per cent of ordinary  capital stock  or 
controlling interests require 
authorization from the National Banking and Securities Commission 
(CNBV).  T he limit on individual 
holdings is 10 per cent of stock capital 
or up to 20 per cent of stock capital 
with authorization from the Ministry of 
Finance and Public Credit (SHCP).   
Effective control of the enterprise by the 
Mexican shareholders is required.  
(4) Unbound, except as indicated in the 
horizontal section Unbound   
  
 
  
(1) Unbound   
(2) Unbound   
(3) None 
  
 
  
 
  
 
  
 
  
 
  
 
 
 
 (4) Unbound, except as indicated in the 
horizontal section . Unbound
    TN/S/O/MEX/Rev.1 
Page 56 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
 - Foreign exchange 
services (CPC 81333) (1) Unbound 
(2) Unbound (3) Multiple banking institutions may carry 
out this activity.  Foreign investors may 
hold up to 49 40
 per cent of common 
stock capital and up to 100 per cent of the 
additional limited-voting capital 
representing  equivalent to  40 per cent of 
non-limited -voting common stock. 
Foreign investment by governments, 
official agencies or  artificial persons 
exercising governmental functions is not 
allowed. Individual holdings of more 
than The limit on individual holdings is  
five per cent of capital stock or u p to 
20 per cent of capital stock with  require 
prior  authorization from the Ministry of 
Finance and Public Credit (SHCP). 
Effective control of the enterprise by 
the Mexican shareholders is required.  
 
 Foreign exchange firms may also carry 
out this activity.  Foreign investors may 
hold up to 49 per cent of paid -up capital 
stock and up to 30 100 per cent of paid -
up capital  non- limited -voting shares, 
representing 30 per cent of capital 
stock.   Foreign investment by 
governments, official agencies or  
artificial persons exercising governmental 
functions is not allowed.  The limit on individual holdings is 10 per cent of paid-
up capital; above this amount, 
authorization is required from the 
Ministry of Finance and Public Credit 
(SHCP) . (1) Unbound   
(2) Unbound   (3) None   TN/S/O/MEX/Rev.1
Page 57Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
  Effective control of the enterprise by the 
Mexican shareholders is required. 
(4) Unbound, except as indicated in the 
horizontal section. Unbound   
 (4) Unbound, except as indicated in the 
horizontal section . Unbound
  
 Derivative products, 
including, but not limited to: (CPC 81339**) (1) Unbound 
(2) Unbound (3) Multiple bankin g institutions may 
carry out operations with derivative 
products.    Foreign investors may hold 
up to 49 per cent of common stock 
capital and up to 100 per cent of the 
additional limited-voting capital 
representing  equivalent to  40 per cent  
of the limited -voting  common stock.    
Foreign investment by governments, 
official agencies or  artificial persons 
exercising governmental functions is not allowed. Individual holdings of 
more than five per cent of capital stock 
require authorization from the Ministry of Finance and Public Credit 
(SHCP).  Effective control of the 
enterprise by the Mexican shareholders 
is required.  
(4) Unbound, except as indicated in the 
horizontal section. (1) Unbound 
(2) Unbound (3) None 
 
 
 
  
 
  
 
  
 
  
 
 (4) Unbound, except as indicated in the 
horizontal section.    TN/S/O/MEX/Rev.1 
Page 58 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
 Futures and options 
81339** (CPC 81339**) (1) Unbound 
(2) Unbound (3) Multiple bankin g institutions may 
carry out operations with futures and 
options.  Foreign investors may hold up to 49 per cent of common stock capital 
and up to 100 per cent of the additional 
limited-voting capital representing  
equivalent to  40 per cent of limited -
voting common stock.  Foreign 
investment by governments, official 
agencies or  artificial persons exercising 
governmental functions is not allowed. 
Individual holdings of more than five per cent of capital stock require 
authorization from the Ministry of 
Finance and Public Credit (SHCP).  
Effective control of the enterpri se by 
the Mexican shareholders is required.  
(4) Unbound, except as indicated in the 
horizontal section. (1) Unbound 
(2) Unbound (3) None 
 
  
 
  
 
  
 
  
 
  
 
(4) Unbound, except as indicated in the 
horizontal section.    TN/S/O/MEX/Rev.1
Page 59Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
 - Transferable securities 
(CPC 81321*) (1) Unbound   
(2) Unbound   (3) Securities firms and securities specialists 
may carry out this activity. 
Foreign investors may hold up to 100 40
 per cent of common stock capital 
and up to 100 per cent of the additional  
capital representing 40 per cent of non- 
limited -voting common stock . Foreign 
investment by governments, official 
agencies or  artificial persons exercising 
governmental functions is not allowed. 
Individual holdings of more than five 
per cent of common capital stock  or 
controlling interests require 
authorization from the National Banking and Securities Commission 
(CNBV).  The limit on individual 
holdings is 10 per cent of paid -up 
capital or up to 20 per cent of paid -up 
capital with authorization from the 
Ministry of Finance and Public Credit 
(SHCP).   Effective control of the 
enterprise by the Mexican shareholders is 
required.  
(4) Unbound, except as indicated in the 
horizontal section. Unbound  (1) Unbound   
(2) Unbound   (3) None 
 
  
 
 
 
  
 
  
 
  
 
  
 
  
 
 (4) Unbound, except as indicated in the 
horizontal section . Unbound
    TN/S/O/MEX/Rev.1 
Page 60 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
 - Other negotiable 
instruments and financial assets, 
including bullion 
(CPC 81339**) (1) Unbound   
(2) Unbound   (3) Multiple banking institutions may carry 
out activities involving bullion.   Foreign 
investors may hold up to 49 40
 per cent of 
common stock capital and up to 100 per 
cent of the additional limited-voting 
capital representing  equivalent to  40 per 
cent of non -limited -voting common stock.   
Foreign investment by governments, 
official agencies or  artificial persons 
exercising governmental functions is not 
allowed. Individual holdings of more 
than The limit on individual holdings is 
five per cent of capital stock or up to 
20 per cent of capital stock with  require 
prior  authorization from the Ministry of 
Finance and Public Credit (SHCP).   
Effective control of the enterprise by 
the Mexican shareholders is required.  
(4) Unbound, except as indicated in the 
horizontal section . Unbound  (1) Unbound   
(2) Unbound   (3) None 
 
  
 
  
 
  
 
  
 
  
 
 
(4) Unbound, except as indicated in the 
horizontal  section. Unbound
   TN/S/O/MEX/Rev.1
Page 61Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
g. Participation in issues of 
all kinds of securities, including underwriting 
and placement as agents 
(whether publicly or privately) and provision of 
services related to such 
issues  
(CPC 8132) (1) Unbound   
(2) Unbound   (3) Securities firms and securities specialists 
may participate in issues of securities and 
underwriting and placement as agents.  Foreign investors may hold up to 
100 40
 per cent of common stock capital 
and up to 100 per cent of the additional 
capital repre senting  40 per cent of non-
limited -voting common stock .  Foreign 
investment by governments, official 
agencies or  artificial persons exercising 
governmental functions is not allowed. 
Individual holdings of more than five 
per cent of ordinary capital stock  or 
controlling interests require 
authorization from the National 
Banking and Securities Commission 
(CNBV).  The limit on individual 
holdings is 10 per cent of paid -up 
capital or up to 20 per cent of paid -up 
capital with authorization from the 
Ministry of Fi nance and Public Credit 
(SHCP).   Effective control of the 
enterprise by the Mexican shareholders is 
required.  
(4) Unbound, except as indicated in the 
horizontal section . Unbound  (1) Unbound 
(2) Unbound (3) None 
 
  
 
 
 
  
 
  
 
  
 
  
 
  
 
 (4) Unbound, except as indicated in the 
horizontal section . Unbound
    TN/S/O/MEX/Rev.1 
Page 62 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
h. Money broking  
(CPC 81339**) (1) Unbound   
(2) Unbound   (3) Multiple banking institutions may carry 
out this activity. Foreign investors may 
hold up to 49 40
 per cent of common 
stock capital and up to 100 per cent of the 
additional limited-voting capital 
representing  equivalent to  40 per cent of 
non-limited -voting common stock. 
Foreign investment by governments, 
official agencies or  artificial persons 
exercising governmental functions is not 
allowed. Individual holdings of more 
than The limit on individual holdings is 
five per cent of capital stock or up to 
20 per cent of capital stock with  require 
prior  authorization from the Ministry of 
Finance and Public Credit (SHCP). 
Effective control of the enterprise by 
the Mexican shareholders is required.  
(4) Unbound, except as indicated in the 
horizontal section . Unbound  (1) Unbound 
(2) Unbound (3) None 
 
  
 
  
 
  
 
  
 
  
 
 
(4) Unbound, except as indicated in the 
horizontal section . Unbound
   TN/S/O/MEX/Rev.1
Page 63Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
i. Asset management, such 
as cash or portfolio management, all forms of 
collective investment 
management, pension fund management and trust 
services 
(CPC 81323*) (1) Unbound 
(2) Unbound (3) Investment companies may carry out 
activities such as asset management, cash 
or portfolio management and all forms of collective investment management.  
Foreign investors may hold up to 
100 49
 per cent of overhead capital.  
Foreign investment by governments, 
official agencies or  artificial persons 
exercising governmental functions is not 
allowed.  The limit on individual holdings 
is established by the board of directors 
of each enterprise.  is 10 per cent of the 
paid-up capital.     Effective control of the 
enterprise by the Mexican shareholders is 
required.  (1) Unbound   
(2) Unbound   (3) None  
  Managing companies of investment 
companies carry out the administration of 
investment trusts. Foreign investors may hold up to 100 49
 per cent of capital 
stock.  Foreign investment by 
governments, official agencies or  artificial 
persons exercising governmental functions 
is not allowed. The limit on individual 
holdings is 10 per cent of the paid -up 
capital.  Effective control of the enterprise 
by the Mexican shareholders is required.      TN/S/O/MEX/Rev.1 
Page 64 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
  Pension fund management companies 
may carry out pension fund management activities.  Foreign investors may hold 
up to 49 per cent of capital stock.  
Foreign investment by governments, 
official agencies or  artificial persons 
exercising governmental functions is not 
allowed.  
  Individual holdings of more than five 
per cent of capital stock require 
authorization from the National Savings and Retirement System 
Commission (CONSAR).  The limit on 
individual holdings is 10 per cent of the 
paid-up capital.   Effective control of the 
enterprise by the Mexican shareholders 
is required.    
  Multiple banking institutions may 
provide trust services.    Foreign 
investors may hold up to 49 40 per cent 
of common stock capital and up to 
100 per cent of the additional limited-
voting capital representing  equivalent to  
40 per cent of non -limited v oting 
common stock.  Foreign investment by 
governments, official agencies or  
artificial persons exercising 
governmental functions is not allowed. 
Individual holdings of more than The 
limit on individual holdings is five per 
cent of capital stock or up to 2 0 per cent 
of capital stock with  require prior  
authorization from the Ministry of 
Finance and Public Credit (SHCP).    TN/S/O/MEX/Rev.1
Page 65Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
    Effective control of the enterprise by 
the Mexican shareholders is required.    
  Securities firms may provide trust 
services in business directly connected 
with their own specific activities.  
Foreign investors may hold up to 100 40
 per cent of common stock capital 
and up to 100 per cent of the additional 
limited-voting capital representing  
equivalent to  40 per cent of non -limited -
voting common stock.  Foreign 
investment by governments, official 
agencies or  artificial persons exercising 
governmental functions is not allowed. 
Individual holdings of more than five 
per cent of capital stock require 
authorization from the National Banking and Securities Commission 
(CNBV).  The limit on individual 
holdings is 10 per cent of paid -up 
capital or up to 20 per cent of paid -up 
capital with authorization from the 
Ministry of Finance and Public Credit 
(SHCP).    
   Effective control of the enterprise  by the 
Mexican shareholders is required.  
Limited-purpose financial institutions 
may act as trustees of guarantee trusts 
the goods subject to which are the 
result of operations inherent in their 
corporate purpose. Foreign investors may hold up to 49 per cent of capital 
stock. Foreign investment by 
governments, official agencies or  
artificial persons exercising 
governmental functions is not allowed. 
Effective control of the enterprise by the Mexican shareholders is required.      TN/S/O/MEX/Rev.1 
Page 66 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
  Financial institutions  may act as 
trustees of  guarantee trusts the 
purpose of which is to guarantee 
bonds in their own favour. Foreign 
investors may hold up to 49 per cent 
of paid -up capital stock and up to  
30 100 per cent of limited-voting 
shares, representing 30 per cent of 
capital stock of limited -voting paid -up 
capital.  Foreign investment by 
governments, and  official  agencies  or 
artificial persons exercising 
governmental functions is not allowed. 
Effective control of the enterprise by the Mexican shareholders is required.
   
  General deposit warehouses may act 
as trustees of  guarantee trusts the 
purpose of which is to guarantee bonds in their own favour. Foreign 
investors may hold up to 49 per cent 
of paid -up capital stock and up to 
100 30  per cent of limited-voting 
shares, representing 30 per cent of 
capital stock of limited -voting paid -up 
capital. Foreign investment by 
governments, and  official  agencies  or 
artificial persons exercising 
governmental functions is not allowed. 
The limit on individual holdings is 
10 per cent of paid-up capital or above 
with authorization from the Ministry 
of Finance and Public Credit (SHCP). 
Effective control of the enterprise by 
the Mexican shareholders is required.  
(4) Unbound, except as indicated in the 
horizontal section . Unbound   
 
  
 
 
 
  
 
  
 
  
 
  
 
(4) Unbound, except as indicated in the 
horizontal section . Unbound
    TN/S/O/MEX/Rev.1
Page 67Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
k. Advisory and other 
auxiliary financial services, including credit 
reporting and analysis, 
investment and portfolio research and advice, 
advice on acquisitions and 
on corporate restructuring 
and strategy 
(CPC 8133) (1) Unbound   
(2) Unbound   (3) Credit reporting companies (credit 
bureaus) may carry out credit-reporting 
activities.  Foreign investors may hold up to 49 per cent of paid-up capital stock.  
Foreign investment by governments, 
official agencies or  artificial persons 
exercising governmental functions is not 
allowed.   
 The limit on individual holdings is 30 per 
cent of the paid -up capital.   Effective 
control of the enterprise by the 
Mexican shareholders is required.  
 
 Investment consultants may carry out 
activities such as investment and portfolio 
analysis, research and advice, advice on acquisitions and on corporate 
restructuring and strategy.  Foreign 
investors may hold up to 100
 49 per cent 
of capital stock.  Foreign investment by 
governments, official agencies or  
artificial persons exercising governmental 
functions is not allowed.  Effective 
control of the enterprise by the Mexican 
shareholders is required.  (1) Unbound   (2) Unbound   (3) None  
 (4) Unbound, except as indicated in the 
horizontal section . Unbound   (4) Unbound, except as indicated in the 
horizontal section . Unbound     TN/S/O/MEX/Rev.1 
Page 68 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
C. Other  
 Holding companies   
 
(1) Unbound 
(2) Unbound 
(3) Foreign investors may hold up to 
49 40 per cent of common stock capital 
and up to 100 per cent of the additional 
limited-voting capital representing  
equivalent to  40 per cent of non -limited -
voting common stock.   Foreign 
investment by governments, official 
agencies or  artificial persons exercising 
governmental functions is not allowed.  
Individual holdings of more than The 
limit on individual holdings is five per 
cent of capital stock or up to 20 per cent 
of capital stock with  require prior  
authorization from the Ministry of 
Finance and Public Credit (SHCP).   
Effective control of the ent erprise by 
the Mexican shareholders is required.  
(4) Unbound, except as indicated in the 
horizontal section . Unbound   
 (1) Unbound 
(2) Unbound 
(3) None  
 
  
 
  
 
  
 
  
 
 
 
(4) Unbound, except as indicated in the 
horizontal section . Unbound
 
   TN/S/O/MEX/Rev.1
Page 69Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
 Guarantee institutions  (1) Unbound   
(2) Unbound   (3) Foreign investors may hold up to 49 per 
cent of paid -up capital stock and up to 
100 30  per cent of capital stock 
represented by limited-voting shares, 
representing 30 per cent of capital 
stock of non -voting paid -up ca pital.  
Foreign investment by governments , and  
official  agencies  or artificial persons 
exercising governmental functions is not 
allowed. The limit on individual holdings 
is 10 per cent of paid -up capital or up to 
20 per cent of paid -up capital with 
authoriz ation from the Ministry of 
Finance and Public Credit (SHCP). 
Effective control of the enterprise by the Mexican shareholders is required. 
 
(4) Unbound, except as indicated in the 
horizontal section . Unbound   (1) Unbound   
(2) Unbound   (3) None 
 
  
 
 
 
  
 
  
 
  
(4) Unbound, except as indicated in the 
horizontal section . Unbound
   
 Re-guarantee institutions  (1) Foreign re-guarantee companies may 
participate in re-guarantee operations.  
According to the applicable regulations, such companies are required to register 
with the Ministry of Finance and Public 
Credit (SHCP), which may authorize or refuse registration. 
(2) Unbound (1) None 
 
  
 
  
(2) Unbound    TN/S/O/MEX/Rev.1 
Page 70 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
 (3) This activity may be carried out through 
established guarantee companies. Foreign 
investors may hold up to 49 per cent of 
paid -up capital stock and up to 100 30  
per cent of limited-voting shares, 
representing 30 per cent of capital 
stock of non -voting paid -up capital.   
Foreign investment by governments, and 
official agencies  or artificial persons 
exercising governmental functions is not 
allowed. The limit on individual holdings 
is 10 per cent of paid -up capital or up to 
20 per cent of paid -up capital with 
authorization from the Ministry of 
Finance and Public Credit (SHCP).   
Effective control of the enterprise by the 
Mexican shareholders is required. 
(4) Unbound, except as indicated in the 
horizontal section . Unbound  (3) None 
  
 
  
 
  
 
  
 
  
 
 (4) Unbound, except as indicated in the 
horizontal section . Unbound
   TN/S/O/MEX/Rev.1
Page 71Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
 General deposit 
warehouses  (1) Unbound   (2) Unbound   (3) Foreign investors may hold up to 49 per 
cent of paid -up capital stock and up to 
100 30  per cent of limited-voting shares, 
representing 30 per cent of capital 
stock of non -limited -voting paid -up 
capital.   Foreign investment by 
governments, official agencies or  
artificial persons exercising governmental 
functions is not allowed.  The limit on 
individual holdings by foreign investors is 
10 per cent of paid-up capital; above this 
amount, authorization is required from 
the Ministry of Finance and Public 
Credit (SHCP) .  Effective control of the 
enterprise by the Mexican shareholders is 
required. 
(4) Unbound, except as indicated in the 
horizontal section . Unbound  (1) Unbound   
(2) Unbound   (3) None 
 
  
 
 
 
  
 
  
 
  
 
(4) Unbound, except as indicated in the 
horizontal section . Unbound
     TN/S/O/MEX/Rev.1 
Page 72 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
8. HEALTH AND SOCIAL 
SERVICES     
A. Private hospital services  
(CPC 9311)  (1) Unbound* (2) None 
(3) None  Foreign investment of up to 49 per 
cent of the registered capital of 
enterprises.  
(4)  Unbound, except as indicated in the 
horizontal section. (1) Unbound* 
(2) None 
(3) None 
 (4) Unbound, except as indicated in the 
horizontal section.
  
B. Other human health 
services  
 - Private services of 
clinical laboratories 
auxiliary to medical 
diagnosis (CPC  93199)   
 
 (1) Unbound 
(2) None 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent.  
This limitation also applies to national 
treatment  
(4) Unbound, except as indicated in the 
horizontal section.  
 
 (1) Unbound 
(2) None 
(3) As indicated in the market access column . 
None  
 
 (4) Unbound, except as indicated in the 
horizontal section.  
 - Other private services 
auxiliary to medical 
treatment (CPC 93191)  (1) Unbound 
(2) None 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent.  
This limitation also applies to national 
treatment  (1) Unbound 
(2) None 
(3) As indicated in the market access column . 
None   
 (4)  Unbound, except as indicated in the 
horizontal section. (4) Unbound, except as indicated in the 
horizontal section.  
 - Dental prosthesis 
laboratory services 
(CPC 93123)   (1) Unbound 
(2) None 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent.  
This limitation also applies to national 
treatment  
(4)  Unbound, except as indicated in the 
horizontal section (1) Unbound 
(2) None 
(3) As indicated in the market access column . 
None  
 
 
(4) Unbound, except as indicated in the 
horizontal section.    TN/S/O/MEX/Rev.1
Page 73Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
9 TOURISM AND 
TRAVEL-RELATED SERVICES    
A. Hotel and restaurant 
services     
 - Hotel services  
(CPC 6411)  (1) Unbound* 
(2) None (1) Unbound* 
(2) None  
 (3) Foreign investment of up to 100 per 
cent of the registered capital of 
enterprises . None, except  It is necessary 
to hold a licence issued by the Ministry of 
Tourism (SECTUR) and  a permit from 
the competent authority  (federal, State or 
municipal) is required to engage in the activity. 
 
(4) Unbound, except as indicated in the 
horizontal section. (3) None 
 
 
  
 
  
(4) Unbound, except as indicated in the 
horizontal section.  
 - Motel services 
(CPC 6412)  (1) Unbound* (2) None (1) Unbound* 
(2) None  
 (3) Foreign investment of up to 100 per 
cent of the registered capital of 
enterprises.   None, except  It is necessary 
to hold a licence issued by the Ministry of 
Tourism (SECTUR) and  a permit from 
the competent authority  (federal, State or 
municipal) is required to engage in the activity.
 
(4) Unbound, except as indicated in the 
horizontal section. (3) None 
 
 
  
 
  
(4) Unbound, except as indicated in the 
horizontal section.    TN/S/O/MEX/Rev.1 
Page 74 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
 - Board and lodging in 
guest houses and furnished 
accommodation  
(CPC 64192 and 64193) (1) Unbound* 
(2) None 
(3) Foreign investment of up to 100 per 
cent of the registered capital of 
enterprises.   None, except  It is necessary 
to hold a licence issued by the Ministry of 
Tourism (SECTUR) and  a permit from 
the competent authority  (federal, State or 
municipal) is required to engage in the 
activity.  (1) Unbound* 
(2) None (3) None  
 (4) Unbound, except as indicated in the 
horizontal section. (4) Unbound, except as indicated in the 
horizontal section.  
 - Youth hostels and 
temporary camping 
facilities  (CPC 64194)  (1) Unbound* 
(2) None 
(3)  Foreign investment of up to 100 per 
cent of the registered capital of 
enterprises.  None, except  It is necessary 
to hold a licence issued by the Ministry of 
Tourism (SECTUR) and  a permit from 
the competent authority  (federal, State or 
municipal) is required to engage in the 
activity.  (1) Unbound* (2) None 
(3) None  
 (4) Unbound, except as indicated in the 
horizontal section. (4) Unbound, except as indicated in the 
horizontal section.  
 - Camping facilities for 
mobile homes (trailer parks) 
(CPC 64195)  (1) Unbound* 
(2) None 
(3)  Foreign investment of up to 100 per 
cent of the registered capital of 
enterprises.   None, except  It is necessary 
to hold a licence issued by the Ministry of 
Tourism (SECTUR) and  a permit from 
the competent authority  (federal, State or 
municipal) is required to engage in the 
activity. 
(4) Unbound, except as indicated in the 
horizontal section. (1) Unbound* 
(2) None (3) None 
 
  
 
  
 
(4) Unbound, except as indicated in the 
horizontal section.  
  
 
  
 
  
 
   TN/S/O/MEX/Rev.1
Page 75Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
 - Restaurant services  
(CPC 642 1) (1) None 
(2) None 
(3) Foreign investment of up to 49 100 per 
cent of the registered capital of 
enterprises.   None, except  It is necessary 
to hold a licence issued by the Ministry o f 
Tourism (SECTUR) and  a permit from 
the competent authority  (federal, State or 
municipal) is required to engage in the 
activity. 
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None (3) None 
 
  
 
 
 
 (4) Unbound, except as indicated in the 
horizontal section.    TN/S/O/MEX/Rev.1 
Page 76 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
  - Cabarets and night 
clubs (CPC 6432) (1) Unbound* 
(2) None 
(3) Foreign investment of up to 49 100 per 
cent of the registered capital of 
enterprises.   None, except  It is necessary 
to hold a licence issued by the Ministry of 
Tourism (SECTUR) and  a permit from 
the competent authority  (federal, State or 
municipal) is required to engage in the 
activity. 
(4) Unbound, except as indicated in the 
horizontal section. (1) Unbound* 
(2) None (3) None 
 
  
 
  
 
(4) Unbound, except as indicated in the 
horizontal section.  
 - Canteens, bars and 
taverns 
(CPC 6431)  (1) Unbound* 
(2) None 
(3) Foreign investment of up to 49 100 per 
cent of the registered capital of 
enterprises.   None, except  It is necessary 
to hold a licence issued by the Mini stry of 
Tourism (SECTUR) and  a permit from 
the competent authority  (federal, State or 
municipal) is required to engage in the 
activity. 
(4) Unbound, except as indicated in the 
horizontal section. (1) Unbound* 
(2) None 
(3) None  
 
  
 
 
 
(4) Unbound, except as indicated in the 
horizontal section.   TN/S/O/MEX/Rev.1
Page 77Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
 B. Travel agency and tour 
operator services  
(CPC 7471)  (1) None Unbound  
(2) None 
(3) Foreign investment of up to 100 per 
cent of the registered capital of 
enterprises.   None, except  It is necessary 
to hold a licenc e issued by the Ministry of 
Tourism (SECTUR) and  a permit from 
the competent authority  (federal, State or 
municipal) is required to engage in the 
activity.  
(4)  Unbound, except as indicated in the 
horizontal section.  (1) None Unbound  
(2) None (3) None 
(4) Unbound, except as indicated in the 
horizontal section.  
 C. Tourist guide services  
(CPC 7472)  (1) Unbound 
(2) None 
(3) Foreign investment of up to 100 per 
cent of the registered capital of 
enterprises.  None, except  It is necessary 
to hold a licence  issued by the Ministry of 
Tourism (SECTUR) and  a permit from 
the competent authority  (federal, State or 
municipal) is required to engage in the 
activity. 
(4)  Unbound, except as indicated in the 
horizontal section. (1) Unbound 
(2) None (3) None 
 
  
 
  
 
(4) Unbound, except as indicated in the 
horizontal section.    TN/S/O/MEX/Rev.1 
Page 78 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
D. Other 
- (Spa services) (CPC 97029) 
 
Includes only: 
 
PRIVATE SERVICES IN 
COMMUNITY, 
RECREATIONAL AND 
SPORTING CENTRES 
(plus services provided by and 
relating to sports clubs, gymnasiums, health and 
seaside resorts, swimming 
pools, sports grounds, billiards, bowling, equitation 
and cycling) 
 Excludes boat rental.  
(1)  None 
(2)  None 
(3)  None  
(4)  Unbound, except as indicated in the 
horizontal section.  
(1) None 
(2) None 
(3) None 
(4) Unbound, except as indicated in the 
horizontal section.  
Caterer services, providing 
meals to outside (CPC 6423) 
(other than service on aircraft 
and in airports)  (1)  Unbound* 
(2)  None 
(3)  None  
(4)  Unbound, except as indicated in the 
horizontal section. (1) Unbound* 
(2) None 
(3) None 
(4) Unbound, except as indicated in the 
horizontal section.    TN/S/O/MEX/Rev.1
Page 79Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
Bar services Beverage -serving 
services  with entertainment 
(Only in hotels and other 
lodging places)  (1) Unbound* 
(2) None 
(3) Foreign investment of up to 100 per 
cent of the registered capital of 
enterprises. None, except that a permit 
from the competent authority (federal, 
State or municipal) is required to 
engage in the activity. None  
(4)  Unbound, except as indicated in the 
horizontal section. (1) Unbound* 
(2) None (3) None 
 
  
 
 
(4) Unbound, except as indicated in the 
horizontal section.  
Public house services 
Beverage -serving services  
without ent ertainment 
(CPC 6431) (Except in hotels, 
other lodging places and other 
means of transport)  (1) Unbound* 
(2) None 
(3) None, except that a permit from the 
competent authority (federal, State or 
municipal) is required  to engage in the 
activity. None  
(4) Unbound, except as indicated in the 
horizontal section. (1) Unbound* 
(2) None 
(3) None 
  
 
(4) Unbound, except as indicated in the 
horizontal section.    TN/S/O/MEX/Rev.1 
Page 80 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
10. RECREATIONAL, 
CULTURAL AND 
SPORTING SERVICES  
(other than audiovisual 
services)    
A. Entertainment services  
(including theatre, live 
bands and circus 
services) (CPC 9619) (CPC 9619) (1)  Unbound* 
(2)  None 
(3)  None 
(4)  Unbound, except as indicated in the 
horizontal section. (1) Unbound * 
(2) None 
(3) None 
(4) Unbound, except as indicated in the 
horizontal section.  
B. News agency services  
(CPC 962) (1)  None 
(2)  None (3)  None 
(4)  Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None (3) None 
(4) Unbound, except as indicated in the 
horizontal section.  
C. Library, archive, 
museum and other 
cultural services  (1)  None 
(2)  None 
(3)  None  (4)  Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) None (4) Unbound, except as indicated in the 
horizontal section.  
D. Sporting and other 
recreational services     
D. Sporting and other 
recreational services  
(CPC 964)  (1)  Unbound  
(2)  None  
(3)  None  
(4)  Unbound, except as indicated in the 
horizontal section.  (1) Unbound  
(2) None  
(3) None  
(4) Unbound, except as indicated in the 
horizontal section.    TN/S/O/MEX/Rev.1
Page 81Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
Sports event promotion 
services  (CPC 96411) (1)  None Unbound  
(2)  None (3)  None 
(4)  Unbound, except as indicated in the 
horizontal section. (1) None Unbound  
(2) None (3) None 
(4) Unbound, except as indicated in the 
horizontal section.  
Sports event organization 
services  
(CPC 96412)  (1)  Unbound * (2)  None 
(3)  None 
(4)  Unbound, except as indicated in the 
horizontal section. 
 (1) Unbound * (2) None 
(3) None 
(4) Unbound, except as indicated in the 
horizontal section.  
Sports facility operation 
services  
(CPC 96413  (1)  Unbound * (2)  None 
(3)  None 
(4)  Unbound, except as indicated in the 
horizontal section. 
 (1) Unbound * (2) None 
(3) None 
(4) Unbound, except as indicated in the 
horizontal section 
  
Other sporting services  (Only 
services provided by sport and 
game schools) (CPC 96419) 
 (1)  Unbound * 
(2)  None 
(3)  None 
(4)  Unbound, except as indicated in the 
horizontal section. (1) Unbound * 
(2) None 
(3) None 
(4) Unbound, except as indicated in the 
horizontal section.    TN/S/O/MEX/Rev.1 
Page 82 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
11. TRANSPORT 
SERVICES    
C. Air transport services     
(e) Supporting services for air 
transport     
 -- Airport and heliport 
administration services 
(CPC 746)  (1) Unbound 
(2) None 
(3) Direct or indirect foreign equity 
participation in excess of 49 per cent 
requires prior authorization from the 
Foreign Investment Commission 
(CNIE).  Foreign investment only up to 
30 per cent of the registered capital of 
enterprises.   A concession from the 
Ministry of Communications and Transport (SCT) is required to operate an 
airport.
 
(4) Unbound, except as indicated in the 
horizontal section.  (1) Unbound (2) None 
(3) Mexicans have priority over foreigners for 
concession-granting purposes, other things being equal.  A concession represents 
discretional authorization by the competent 
authorities for the provision of a public service.  Neither the concession nor the rights 
conferred thereby may be transferred, 
mortgaged, encumbered or alienated to any foreign government or State, nor may the 
latter be admitted as a partner in the 
enterprise holding the concession.
 
(4) Unbound, except as indicated in the 
horizontal section.    TN/S/O/MEX/Rev.1
Page 83Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
E. Rail transport services     
c. Pushing or towing 
services (CPC 7113) (1)  Unbound * (2)  None (3)  Direct or indirect foreign equity 
participation in excess of 49 per cent 
requires prior authorization from the Foreign Investment Commission 
(CNIE). This limitation also applies to 
national treatment . 
(4)  Unbound, except as indicated in the 
horizontal section. (1) Unbound * 
(2) None 
(3) Direct or indirect foreign equity 
participation in excess of 49 per cent 
requires prior authorization from the 
Foreign Investment Commission (CNIE).  
As indicated in the market access column . 
 (4) Unbound, except as indicated in the 
horizontal section.  
e.  Supporting services for 
railway transport 
(CPC 743) (1)  Unbound * 
(2)  None 
(3)  Direct or indirect foreign equity 
participation in excess of 49 per cent requires prior authorization from the 
Foreign Investment Commission 
(CNIE). This limitation also applies to 
national treatment . 
(4)  Unbound, except as indicated in the 
horizontal section. (1) Unbound * 
(2) None 
(3) Direct or indirect foreign equity 
participation in excess of 49 per  cent 
requires prior authorization from the 
Foreign Investment Commission (CNIE).  
As indicated in the market access column . 
 
(4) Unbound, except as indicated in the 
horizontal section.    TN/S/O/MEX/Rev.1 
Page 84 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
F. Road transport services     
(d) Maintenance and repair of 
road transport equipment     
 - Maintenance and repair 
services of motor 
vehicles  (CPC 6112 and 8867)  (1) None 
(2) None 
(3)  None  Foreign investment of up to 49 per 
cent of the registered capital of 
enterprises.  (1) None 
(2) None 
(3) None  
 (4) Unbound, except as indicated in the 
horizontal section. (4) Unbound, except as indicated in the 
horizontal section.   TN/S/O/MEX/Rev.1
Page 85Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
H. Services auxiliary to all 
modes of transport  
 - Supporting services for 
air transport  
(CPC 746)   
  
(1) None 
(2) None 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent.  
The Ministry of Communications and 
Transport (SCT) is responsible for 
controlling air traffic and meteorological, aeronautical telecommunications and air 
navigation assistance services. 
This limitation also applies to national 
treatment.  
(4) Unbound, except as indicated in the 
horizontal section.  
  
(1) None 
(2) None 
(3) As indicated in the market access column . 
Neither the concession nor the rights 
conferred thereby may be transferred, 
mortgaged, encumbered or alienated to 
any foreign government or State, nor may 
the latter be admitted as a partner in the 
enterprise holding the concession.  
 
 
(4) Unbound, except as indicated in the 
horizontal section.  
 - Weighbridge services 
for transport purposes 
(CPC 7490)  (1) None 
(2) None 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent. A concession issued by the Ministry of 
Communications and Transport (SCT) is 
required to provide these services and the prior authorization of the Ministry of 
Foreign Affairs (SRE) is needed to enable 
enterprises with foreign participation to obtain such a concession.  
This limitation also applies to national 
treatment. 
 
 (4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) As indicated in the market access column . 
Mexicans have priority over foreigners for 
concession -granting purposes, other things 
being equal.  A concession represents 
discretional author ization by the 
competent authorities for the provision of 
a public service.  N either the concession 
nor the rights conferred thereby may be 
transferred, mortgaged, encumbered or 
alienated to any foreign government or 
State, nor may the latter be admitted as a 
partner in the enterprise holding the 
concession.  
(4) Unbound, except as indicated in the 
horizontal section.    TN/S/O/MEX/Rev.1 
Page 86 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
I. Other transport services : 
 - Tramway transport 
(CPC  71211)   
 
(1) Unbound* 
(2) None 
(3)  Direct or indirect  foreign equity 
participation may not exceed 49 per cent.  
State and municipal authorities are 
responsible for granting concessions for these services.  
This limitation also applies to national 
treatment.  
 
 
  
 
 (4)  Unbound, except as indicated in the 
horizontal section.   
 
(1) Unbound* 
(2) None 
(3)  As indicated in the market access column . 
Mexicans have priorit y over foreigners for 
concession -granting purposes, other things 
being equal.  A concession represents 
discretional author ization by the 
competent authorities for the provision of 
a public service.  Ne ither the concession 
nor the rights conferred thereby m ay be 
transferred, mortgaged, encumbered or 
alienated to any foreign government or 
State, nor may the latter be admitted as a 
partner in the enterprise holding the 
concession.  
(4)  Unbound, except as indicated in the 
horizontal section.  
 - Subway transport 
(CPC 71211)  (1)  Unbound* 
(2)  None 
(3)  Direct or indirect  foreign equity 
participation may not exceed 49 per cent.  State and municipal authorities are 
responsible for granting concessions for 
these services.  
This limitation also applies to national 
treatment.  
  
 
  
 
(4) Unbound, except as indicated in the 
horizontal section. (1)  Unbound* 
(2)  None 
(3) As indicated in the market access column . 
Mexicans have priority over foreigners for 
concession -granting purposes, other things 
being equal.  A concess ion represents 
discretional authorization by the competent 
authorities for the provision of a public 
service.  Neither the concession nor the 
rights conferred thereby may be 
transferred, mortgaged, encumbered or 
alienated to any foreign government or 
State , nor may the latter be admitted as a 
partner in the enterprise holding the 
concession.  
(4) Unbound, except as indicated in the 
horizontal section.   TN/S/O/MEX/Rev.1
Page 87Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
12. OTHER SERVICES 
 - Footwear and leather 
goods repair services 
(CPC 63301)   
 
(1) None 
(2) None 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent. 
This limitation also applies to national 
treatment.  
(4) Unbound, except as indicated in the 
horizontal section.  
 
(1) None 
(2) None 
(3) As indicated in the market access column . 
None  
 
 
(4) Unbound, except as indicated in the 
horizontal section.  
 - Repair services of 
electrical household 
appliances  
(CPC 63302)  (1) None 
(2) None 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent. 
This limitation also applies to national 
treatment. 
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) As indicated in the market access column . 
None  
 
 
(4) Unbound, except as indicated in the 
horizontal section.  
 - Watch, clock and 
jewellery repair services  
(CPC 63303)  (1) None 
(2) None 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent. 
This limitation also applies to national 
treatment. 
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) As indicated in the market access column . 
None  
  
(4) Unbound, except as indicated in the 
horizontal section.    TN/S/O/MEX/Rev.1 
Page 88 Modes of supply:  (1)  Cross-border supply  (2)  Consumption abroad (3)  Commercial presence  (4)  Presence of natural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
 - Repair and cleaning of 
headgear  (CPC 63304)  (1) None 
(2) None 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent. 
This limitation also applies to national 
treatment. 
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) As indicated in the market access column . 
None  
  
(4) Unbound, except as indicated in the 
horizontal section.  
 - Bicycle repair 
(CPC 63309)  (1) None 
(2) None 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent. 
This limitation also applies to national 
treatment. 
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) As indicated in the market access column . 
None  
 
 
(4) Unbound, except as indicated in the 
horizontal section.  
 - Locksmiths' trade  
(CPC 63309)  (1) None 
(2) None 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent. 
State and municipal authorities are 
responsible for granting concessions for 
these services. 
This limitation also applies to national 
treatment. 
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) As indicated in the market access column . 
None 
 
 
  
 
(4) Unbound, except as indicated in the 
horizontal section.  
* Unbound due to lack of technical feasibility.  TN/S/O/MEX/Rev.1
Page 89MARITIME TRANSPORT 
 
Modes of supply:   (1)  Cross-border supply (2)   Consumption abroad       (3)    Commercial presence      (4)    Presence of n atural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
11. TRANSPORT 
SERVICES    
See Annex I on 
Additional Commitments
 
 A. Maritime transport 
services  
 International transport 
(freight and passengers) 
CPC 7211 and 7212, other than cabotage 
transport (see definition 
in Annex II)
 (1) Scheduled, bulk, tramp and other 
international maritime transport, including passenger transport 
9 
Specific international deep-sea 
transport may be reserved wholly or partly for shipping companies which 
are Mexican, or recognized as such, 
when the principles of free competition are not observed and the national 
economy is affected. 
(2) None 
(3) Direct or indirect foreign investment in 
excess of 49 per cent of the equity of 
shipping companies operating vessels 
exclusively as deep-sea traffic requires 
prior authorization from the Foreign Investment Commission (CNIE). 
This limitation also applies to national 
treatment.  
(4) Unbound, except as indicated in the 
horizontal section . (1) Transport charges w ill be treated as part 
of exports of motor vehicles and motor vehicle parts when these are carried in 
vessels belonging to Mexican companies.  
Transport charges will not be treated as part of imports of motor vehicles and 
motor vehicle parts when these are carried 
in vessels belonging to Mexican companies.  These requirements will be 
abolished in 2004.
 
(2) None 
(3) As indicated in the market access column . 
None  
 
 
  
 
 (4) Unbound, except as indicated in the 
horizontal section.
  
                                                      
9 In accordance with Mexican legislation, foreign-flag vessels may provid e internacional maritime tran sport in Mexico when there is reciprocity on the part of 
the vessel's country of registration.  Provid ed that the negotiations reach a satisfacto ry conclusión in this respect, Mexico w ill not include this legislative requirement in 
its list of most-favoured-nation exemptions.   TN/S/O/MEX/Rev.1 
Page 90 Modes of supply:   (1)  Cross-border supply (2)   Consumption abroad       (3)    Commercial presence      (4)    Presence of n atural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
 AUXILIARY 
SERVICES     
 Maritime cargo 
handling services (see definition in Annex II)
 (1) Unbound* 
(2) None 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent.
This limitation also applies to national 
treatment.  
(4) Unbound, except as indicated in the 
horizontal section. (1) Unbound * 
(2) None 
(3) As indicated in the market access column . 
None  
 
 
(4) Unbound, except as indicated in the 
horizontal section.  
 Storage and 
warehousing services, 
except general bonded warehouses (CPC 742) 
(see definition in Annex 
II)
 (1) Unbound * 
(2) None 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent.
This limitation also applies to national 
treatment.  
(4) Unbound, except as indicated in the 
horizontal section. (1) Unbound * 
(2) None 
(3) As indicated in the market access column . 
None  
 
 (4) Unbound, except as indicated in the 
horizontal section.  
 Container station and 
depot services (see 
definition in Annex II) (1) Unbound * 
(2) None 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent.
This limitation also applies to national 
treatment.  (1) Unbound * 
(2) None 
(3) As indicated in the market access column . 
None   
 (4) Unbound, except as indicated in the 
horizontal section.  (4) Unbound, except as indicated in the 
horizontal section.  
                                                      
* Unbound because not technically feasible. 
* Unbound because not technically feasible.   TN/S/O/MEX/Rev.1
Page 91Modes of supply:   (1)  Cross-border supply (2)   Consumption abroad       (3)    Commercial presence      (4)    Presence of n atural persons  
Sector or subsector  Limitations on market access  Limitations on national treatment  Additional 
commitments  
 Maritime agency 
services (see definition in 
Annex II)  (1) Unbound 
(2) None 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent.
This limitation also applies to national 
treatment.  (1) Unbound 
(2) None 
(3) As indicated in the market access column . 
None   
 (4) Unbound, except as indicated in the 
horizontal section. (4) Unbound, except as indicated in the 
horizontal section.  
 Maritime freight-
forwarding services (see 
definition in Annex II)  (1) Unbound 
(2) None 
(3) Direct or indirect  foreign equity 
participation may not exceed 49 per cent.
This limitation also applies to national 
treatment.  (1) Unbound 
(2) None 
(3) As indicated in the market access column . 
None   
 (4) Unbound, except as indicated in the 
horizontal section. (4) Unbound, except as indicated in the 
horizontal section.   
 Vessel maintenance and 
repair (see definition in 
Annex II)  (1) Unbound * 
(2) None 
(3) Direct or indirect foreign equity 
participation may not exceed 49 per 
cent. 
This limitation also applies to national 
treatment.  (1) Unbound * 
(2) None 
(3) As indicated in the market access column . 
None   
 (4) Unbound, except as indicated in the 
horizontal section. (4) Unbound, except as indicated in the 
horizontal section.  
 
                                                      
* Unbound because not technically feasible.   TN/S/O/MEX/Rev.1 
Page 92  
ANNEX I  
 
ADDITIONAL COMMITMENTS  
 
 
A. ACCESS TO AND USE OF PORT INSTALLATIONS  
 The following port services a re available to suppliers of int ernational maritime transport servi ces on reasonable and non-disc riminatory terms 
and conditions:  
1. Pilotage services.  
2. Towing services.  
3. Provisioning, fuelling and watering.  
4. Garbage collection and ball ast waste disposal services.  
 In commercial ports, no ballast waste disposal services are pr ovided.  These services are provided by the oil handling install ations of Pemex 
(Petróleos Mexicanos).  
5. Port captain's services.  
6. Navigation aids.  
7. Shore-based operational se rvices essential to ship operations, incl uding communications an d electrical supplies.  
8. Emergency repair facilities.  
9. Anchorage services.  
 Areas have been set aside outside national ports as anchorages.  
 
B. MULTIMODAL OPERATIONS  
 Where road, rail, inland waterway and auxilia ry transport services are no t otherwise fully covered in this schedule, a multimo dal transport 
operator, authorized by the Ministry of Communications and Transp ort, shall be authorized to co nclude contracts for land transp ort in trucks, 
railway wagons and related equipment for river freight transport pu rposes.  These services will be provided on reasonable and n on-
discriminatory terms and conditions for the purpose of carrying out multimodal transpor t operations.    "Reasonable and non-dis criminatory 
terms and conditions" means, for the purpose  of multimodal transport op erations, the ability of the multimodal transport operat or to arrange for 
the conveyance of its merchandise on a timel y basis, including priority  over other merchandise which has entered the port at a later date.    
Foreign investment and market access commitments on a cross- border basis are not included.  
 
  TN/S/O/MEX/Rev.1
Page 93 
ANNEX II  
 
NOTE TO THE SCHEDULE  
 
  Where road, rail, inland waterway and auxilia ry transport services are not otherwise full y covered in this schedule, a multimo dal 
transport operator, authorized by the Ministry of Communications and Transport, shall be authorized to conclude contracts for l and 
transport in trucks, railway wagons and rel ated equipment for river freight transpor t purposes.  These services will be provide d on 
reasonable and non-discriminatory terms and conditions for the purpose of carrying out multimodal transport operations.    "Rea sonable 
and non-discriminatory terms and conditions"  means, for the purpose of multimodal transport operations, the ability of the mult imodal 
transport operator to arrange fo r the conveyance of its merchandise on a timely basis, including priority over other merchandis e which 
has entered the port at a later date.    Foreign investment a nd market access commitments on a cross-border basis are not inclu ded. 
 
DEFINITIONS  
 
1. Without prejudice to the scope of activities which may be co nsidered as "cabotage" under the re levant national legislation, this 
schedule does not include "maritime cabotage services", which a re assumed to cover transportation of passengers or goods betwee n 
ports located in Mexican territory and tra ffic originating and terminating in the same  port located in Mexican territory provid ed 
that this traffic remains within  Mexico's territorial waters. 
2. "Multimodal transport operator" means th e person on whose behalf the bill of lading/multimodal transport document, or any 
other document evidencing a multimodal goods carriage contra ct, is issued and who is responsible for carriage of the goods 
pursuant to the contract of carriage. 
3. "Maritime cargo handling services" means activities exercised by  stevedore companies, including terminal operators, but not 
including the direct activities of dockers when this workforce is organized independently of the stevedoring or terminal operat or 
companies.    The activities covered include the organization and supervision of: 
 - The loading/discharging of cargo onto/from a ship; 
 - the lashing/unlashing of cargo; 
 - the reception/delivery and safekeeping of  cargo before shipment and after discharge. 
4. "Storage and warehousing services" means the safekeeping of me rchandise in warehouses, yards or sheds within the port precin cts.  TN/S/O/MEX/Rev.1 
Page 94 5. "Container station and depot services" means the storage of cont ainers, whether in port areas or inland, with a view to thei r 
stuffing, stripping or repair and making them available for shipments. 
6. "Maritime agency services" means the representation, within a gi ven geographic area and as an agent, of the business interes ts of 
one or more shipping lines or shipping companies, for the following purposes: 
 - Marketing and selling maritime transport and related services, fr om quotation to invoicing, and issuing bills of lading on b ehalf of 
companies, acquiring and reselling the neces sary related services, preparing document ation and furnishing business information;  
 - acting on behalf of the companies organizing the ship’s  ports of call or taking over cargo as and when required. 
7. "Freight-forwarding services" means the organization and monitoring  of shipment operations on behalf of shippers, through th e 
acquisition of transport and related services, preparatio n of documentation and provision of business information. 
8. "Vessel maintenance and repair" means all vessel repair and maintenance work carried out in dock. 
  TN/S/O/MEX/Rev.1
Page 95 
  
 
MEXICO - FINAL LIST OF ARTICLE II (MFN) EXEMPTIONS  
 
Sector or subsector  Description of measure indicating 
its inconsistency with Article II  Countries to which the 
measure applies  Intended duration  Conditions creating the need 
for the exemption  
Tourism. Road transport (passenger)
 The supply of road transport services by foreign suppliers into and across 
Mexico is limited to vehicles 
registered in the countries indicated 
in Column (3). 
 United States of America
 Indefinite   Agreement aimed at facilitating 
the access of tourists from the 
United States of America to 
Mexico when such tourism is 
carried out by road transport.  
Tourism. Business 
conventions  Bilateral Agreement for the 
granting of tax deductions to 
individuals attending business 
conventions in the territories of the 
parties.  United States  of America  Indefinite  Individuals attending business 
conventions receive a 
preferential deduction for 
expenses incurred in the 
territories of the parties  
  TN/S/O/MEX/Rev.1 
 Page 97 
 
 
 REFERENCE PAPER 
 Scope
 
  The following are definitions and principles re lating to the regulatory framework for basic 
telecommunications services. 
 Definitions
 
 Users
 mean service consumers and service suppliers. 
 
Essential facilities  mean facilities of a public telecommunica tions transport network or service that: 
  (a) are exclusively or predominantly provided by a single or limited number of suppliers;  
and 
 
 (b) cannot feasibly be economically or tec hnically substituted in order to provide a 
service. 
 A major supplier
 is a supplier which has the ability to mate rially affect the terms of participation 
(having regard to price and supply) in the releva nt market for basic telecommunications services as a 
result of: 
  (a) control over essential facilities;  or   (b) use of its position in the market. 
 
1. Competitive safeguards
 
 1.1 Prevention of anti-competitive practices in telecommunications
 
  Appropriate measures shall be maintained for the purpose of preventing suppliers who, alone 
or together, are a major supplier from engaging  in or continuing anti-competitive practices. 
 1.2 Safeguards
 
  The anti-competitive practices referred to above shall include in particular: 
 
 (a) engaging in anti-competitive cross-subsidization;   (b) using information obtained from comp etitors with anti-competitive results;  and 
  (c) not making available to other services suppliers on a timely basis technical  
information about essential facilities and comm ercially relevant information which 
are necessary for them to provide services. TN/S/O/MEX/Rev.1 
Page 98  
 
 2. Interconnection
 
 2.1 This section applies to linking with supplie rs providing public telecommunications transport 
networks or services in order to allow the users of  one supplier to communicate with users of another 
supplier and to access services provided by anot her supplier, where specific commitments are 
undertaken. 
 2.2 Interconnection to be ensured
 
  Interconnection with a major supplier shall be en sured at any technically feasible point in the 
network.  Such interconn ection shall be provided: 
  (a) under non-discriminatory terms, cond itions (including technical standards and 
specifications) and rates and of a quality no l ess favourable than that provided for its 
own like services or for like services of non-affiliated service suppliers or for its 
subsidiaries or other affiliates; 
  (b) in a timely fashion, on terms, c onditions (including technical standards and 
specifications) and cost-oriented rates that ar e transparent, reasonable, having regard 
to economic feasibility, and sufficiently unbundl ed so that the supplier need not pay 
for network components or facilities that it does not require for the service to be 
provided;  and 
  (c) upon request, at points in addition to th e network termination points offered to the 
majority of users, subject to charges that reflect the cost of construction of necessary additional facilities. 
 
2.3 Public availability of the pro cedures for interconnection negotiations
 
  The procedures applicable for interconnection to a major supplier shall be made publicly 
available.  
2.4 Transparency of interconnection arrangements
 
  A major supplier shall make either its interconnection agreements or a reference 
interconnection offer publicly available.  
2.5 Interconnection:  Dispute settlement
 
  A service supplier requesting interconnection with a major supplier shall have recourse, 
either:   (a) at any time or 
 
 (b) after a reasonable period of time which has been made publicly known  to an independent domestic body, which may be a regulatory body as referred to in paragraph 5 
below, to resolve disputes regarding appropriate te rms, conditions and rates for interconnection within 
a reasonable period of time, to the extent th at these have not been established previously. 
  TN/S/O/MEX/Rev.1 
 Page 99 
 
 
 3. Universal service  
  Any Member has the right to define the ki nd of universal service obligation it wishes to 
maintain.  Such obligations shall not  be regarded as anti-competitive per se , provided that they are 
administered in a transparent, non-discriminator y and competitively neutral manner and are not more 
burdensome than necessary for the kind of universal service defined by the Member. 
 4. Public availability of licensing criteria
 
  Where a licence is required, the following shall be made publicly available: 
 
 (a) all the licensing criteria and the period of time normally required to reach a decision 
concerning an application for a licence, and 
  (b) the terms and conditio ns of individual licences. 
 
 The reasons for the denial of a licence sha ll be made known to the applicant upon request. 
 5. Independent regulators
 
  The regulatory body is separate from, and not accountable to, any supplier of basic 
telecommunications services. The decisions of and the procedures used by regulators shall be 
impartial with respect to all market participants.  6. Allocation and use of scarce resources
 
 
 Any procedures for the allocation and use of s carce resources, including frequencies, numbers 
and rights of way, shall be carried out in an objective, timely, transparent and non-discriminatory 
manner. The current state of allocated frequency ba nds shall be made publicly available, but detailed 
identification of frequencies allocated for specific government uses is not required.  
__________