KYB in Mexico: what to check about a company before extending credit
Published: September 30, 2026 · Updated: September 30, 2026
KYB (Know Your Business) is the process of confirming that a company exists, that it is who it claims to be, who is behind it and what risks it carries before you enter a financial relationship. In Mexico, much of that verification can be done with official sources: the tax authority (SAT), the Public Registry of Commerce (Registro Público de Comercio) and the SAT's published lists.
KYB checklist
| What to verify | Source | What you are looking for |
|---|---|---|
| Tax identity | Tax status certificate (constancia de situación fiscal) | RFC (tax ID), legal name, tax regime, registered tax address, activities and start date |
| Standing with the SAT | SAT compliance opinion (opinión de cumplimiento) | That the company is up to date with its obligations |
| Legal existence | Public Registry of Commerce | Articles of incorporation, corporate purpose, incorporation date |
| Shareholders and legal representatives | Public Registry of Commerce | Who owns the company and who can sign on its behalf |
| Beneficial owner | Company declaration and corporate documents | The individuals who control or benefit from the company |
| Simulated transactions | SAT 69-B list | That neither the company nor its main suppliers and customers appear on it |
| Real operations | Issued and received CFDI (electronic invoices) | That invoicing is consistent with its declared activity |
| Related parties | Public Registry of Commerce and CFDI | Transactions with companies owned by the same shareholders |
| Risk lists | National and international lists that apply to your institution | Matches with restricted individuals or companies |
Red flags in a KYB review
- Activities on the tax status certificate do not match what the company invoices.
- Recently incorporated company with high invoicing from its first month.
- Tax address flagged as "not located" or shared with many other companies.
- Negative SAT compliance opinion.
- The company, its shareholders or its main counterparties on the 69-B list.
- Frequent changes of shareholders or legal representatives.
- Significant related-party transactions with no apparent economic substance.
KYB and regulatory compliance
For financial institutions, KYB is part of their anti-money laundering (AML, known in Mexico as PLD) obligations, whose details depend on the type of entity and its regulator. This checklist covers the tax and corporate side; your compliance team defines which additional documents, lists and level of review your regulatory framework requires.
How to automate it
Collecting the tax status certificate, compliance opinion, articles of incorporation, shareholder records, CFDI and list checks by hand can take days and depends on the client sending the right documents. With the client's authorization, much of it can be pulled directly from official sources:
- The client authorizes access to its RFC with its SAT password or its e.firma (advanced electronic signature).
- The platform downloads its tax status certificate, compliance opinion and CFDI from the SAT.
- It queries the Public Registry of Commerce for the corporate structure.
- It checks the company and its counterparties against the 69-B list.
- It delivers a single file with the original documents and alerts.
How Atlas handles it
- KYB file with tax status certificate, SAT compliance opinion, corporate structure from the Public Registry of Commerce, related parties and 69-B list check.
- Real operations based on the client's CFDI.
- Continuous monitoring after onboarding.
- Available in a dashboard, as a PDF or through the API. See Atlas for lenders.
Frequently asked questions
What is KYB?
Know Your Business: the process of verifying a company's identity, structure and risks before doing business with it.
How is it different from KYC?
KYC verifies an individual; KYB verifies a company, including the individuals who control it.
Which official documents support a KYB review in Mexico?
The tax status certificate, SAT compliance opinion, articles of incorporation and Public Registry of Commerce filings, plus a 69-B list check.
How often should it be updated?
At onboarding and periodically based on the client's risk; with continuous monitoring, relevant changes are detected when they happen.
Can I run KYB without asking the client for documents?
Largely yes, if the client authorizes access to its information in official sources.
Can a foreign lender run KYB on a Mexican company this way?
Yes. The data comes from Mexican official sources with the company's authorization, regardless of where the lender is based. Your own regulatory requirements still apply.
This article is for information only and is not a substitute for your institution's compliance policies or legal and regulatory advice.
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