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Mexico's national security review bill for foreign investment: what the Senate approved and where it stands

Last verified: 2026-10-26 · Status: Changing

A bill sent by the Executive to amend the Foreign Investment Law (LIE) passed the Senate on 30 September 2026, 65 votes to 30 in general and 65 to 28 in particular, and went to the Chamber of Deputies, where it was still pending on 26 October 2026. According to the Congress channel, it adds the Navy, National Defense and Security ministries and the Digital Transformation Agency to the National Foreign Investment Commission (CNIE) with voice and vote, and strengthens review of foreign stakes above 49 percent in Mexican companies in strategic sectors. Named sectors include energy, infrastructure, transport, communications, mining, data storage, artificial intelligence, robotics, cybersecurity, aerospace and nuclear, with fines of 5,000 to 200,000 times the daily UMA; it is not law until the Chamber passes it and it is published in the DOF.

USD figures use MXN 18.6638 per US dollar, the Federal Reserve H.10 noon buying rate for 23 October 2026 (FRED series DEXMXUS), the latest observation available on 26 October 2026. Conversions are for orientation only.

Key facts

Bill adding a national security review to the LIE (Senate approved 30 September 2026, pending in the Chamber of Deputies)	Pending textExecutive bill reforming the LIE, Senate vote of 30 September 2026, as of 2026-10-26 · pending
Senate votes in favor, in general, of the LIE national security bill	65 votesSenate vote of 30 September 2026, as of 2026-09-30 · pending
CNIE voting members if the bill is enacted (10 today)	14 membersExecutive bill reforming the LIE; LIE art. 23, as of 2026-09-30 · pending
Fines under the bill	5,000 to 200,000 UMAExecutive bill reforming the LIE, as of 2026-09-30 · pending
Fine today for acting without required CNIE approval	1,000 to 5,000 UMALIE art. 38, fraction I, as of 2026-10-26 · in force
Foreign stake above which the bill strengthens review in strategic sectors	49 %Executive bill reforming the LIE, as of 2026-09-30 · pending

The rule

1. Status. The Senate approved the committee report on the Executive's bill to reform, add and repeal provisions of the LIE on 30 September 2026, with 65 votes in favor and 30 against in general and 65 to 28 in particular, and sent it to the Chamber of Deputies to continue the legislative process. As of 26 October 2026 no Chamber vote or DOF publication was found, so the LIE as last reformed on 27 May 2024 remains the law in force.
Cost to do it: Not in force; no cost yet.
Example: A deal signed in November 2026 and closing in 2027 should treat a national security clearance as a possible closing condition. / Same treatment for USD priced deals.Proyecto de decreto por el que se reforman, adicionan y derogan diversas disposiciones de la Ley de Inversión Extranjera (Executive bill; Senate committee report of the Economy and First Legislative Studies committees), Whole bill; Senate floor vote of 30 September 2026, 2026-09-30 official text · verified 2026-10-26 · changed: Senate approval on 30 September 2026; pending in the Chamber of Deputies as of 26 October 2026; not published in the DOF.

2. A broader CNIE. Under the LIE in force the CNIE is made up of ten ministers (Interior, Foreign Affairs, Finance, Welfare, Environment, Energy, Economy, Infrastructure, Labor and Tourism), chaired by the Minister of Economy, and decides by majority. According to the Congress channel, the bill adds the heads of the Navy, National Defense and Security and Citizen Protection ministries and the head of the Digital Transformation and Telecommunications Agency with voice and vote, which would take the CNIE to fourteen voting members.
Cost to do it: Not applicable.
Example: Under the bill, a foreign acquisition of a Mexican port services company would be voted on by a CNIE that includes the Navy and Defense ministries. / Not applicable.Proyecto de decreto por el que se reforman, adicionan y derogan diversas disposiciones de la Ley de Inversión Extranjera (Executive bill; Senate committee report of the Economy and First Legislative Studies committees); Ley de Inversión Extranjera (LIE), DOF 27 December 1993, last reform DOF 27 May 2024, LIE arts. 23 and 24 (in force); bill provisions on CNIE membership as reported by the Congress channel, 2026-09-30 official text · verified 2026-10-26

3. What would be reviewed. According to the Congress channel, the bill strengthens review of foreign investment above 49 percent of Mexican companies in strategic sectors to address national security risks, naming energy, infrastructure, transport, communications, mining, data storage, artificial intelligence technologies, robotics, cybersecurity, aerospace and nuclear, among others. Under the LIE in force, the CNIE may already block acquisitions by foreign investment for national security reasons, and it must decide applications within 45 business days, with silence meaning approval.
Cost to do it: Timing and deal certainty for foreign buyers in the named sectors; the bill's fee treatment was not described in the official sources consulted.
Example: If the bill becomes law, a foreign buyer of 60 percent of a Mexican data center operator would need to check whether the target falls within the reviewed sectors and thresholds before closing. / Not applicable.Proyecto de decreto por el que se reforman, adicionan y derogan diversas disposiciones de la Ley de Inversión Extranjera (Executive bill; Senate committee report of the Economy and First Legislative Studies committees); Ley de Inversión Extranjera (LIE), last reform DOF 27 May 2024, LIE arts. 28 and 30 (in force); bill provisions on national security review as reported by the Congress channel, 2026-09-30 official text · verified 2026-10-26

4. Higher fines. According to the Congress channel, offenders under the reform would face fines of 5,000 to 200,000 times the daily UMA. Under the LIE in force, carrying out an act that needs a favorable CNIE resolution without obtaining it first is fined 1,000 to 5,000 minimum wages, which since the 2016 deindexation reform are read as UMA. The 2026 UMA is MXN 117.31 per day.
Cost to do it: At the 2026 UMA, MXN 586,550 to MXN 23,462,000 per infraction if enacted, against MXN 117,310 to MXN 586,550 today for acting without required CNIE approval.
Example: The top fine under the bill would be MXN 23,462,000 at the 2026 UMA, forty times today's maximum of MXN 586,550. / About USD 31,427 to USD 1,257,086 under the bill, against about USD 6,285 to USD 31,427 today.Proyecto de decreto por el que se reforman, adicionan y derogan diversas disposiciones de la Ley de Inversión Extranjera (Executive bill; Senate committee report of the Economy and First Legislative Studies committees); LIE art. 38; Constitutional decree on minimum wage deindexation, DOF 27 January 2016, LIE art. 38, fraction I (in force); transitory Tercero of the 2016 decree; bill sanctions as reported by the Congress channel, 2026-09-30 official text · verified 2026-10-26

Item	LIE in force	Senate approved bill
CNIE voting members	10 ministers (art. 23)	14, adding Navy, Defense, Security and the Digital Transformation Agency
National security	CNIE may block acquisitions (art. 30)	Strengthened review of foreign stakes above 49 percent in named strategic sectors
Fines	1,000 to 5,000 UMA for acting without approval (art. 38, I)	5,000 to 200,000 UMA
Status	In force since last reform DOF 27 May 2024	Senate approved 30 September 2026; pending in the Chamber of Deputies

LIE in force against the Senate approved bill (bill content as reported by the Congress channel)

Worked example

A US infrastructure fund signs in November 2026 to buy 70 percent of a Mexican fiber network operator, with closing planned for the second quarter of 2027.
Under the LIE in force, CNIE approval is needed only if the deal falls within the listed activities or the asset threshold of LIE art. 9, and CNIE silence after 45 business days is approval.
Communications is a sector named for the strengthened review, so if the bill is enacted before closing the fund may need clearance from a CNIE that includes the Navy, Defense and Security ministries.
Closing without a required clearance could expose the fund to fines of up to 200,000 UMA, MXN 23,462,000 at the 2026 value (about USD 1,257,086).

Step by step

1. Track the bill in the Chamber of Deputies and watch the DOF for publication, transitory provisions and the effective date.
2. Map each Mexican target against the sectors named in the bill and the 49 percent stake test.
3. In deals closing in 2027 or later, draft a closing condition for any new CNIE national security clearance and allocate timing risk and break fees.
4. Budget for possible mitigation conditions on governance, data access or supply commitments.
5. Keep complying with the LIE in force: art. 8 activities, the art. 9 asset threshold and RNIE registration.

Common traps

Not yet law. Only the LIE in force binds today, and the Chamber of Deputies may still change the text.
Sector list is open ended. The sectors named are examples ("among others"), so targets outside them may still be caught.
Indirect deals. LIE art. 9 already counts direct and indirect participation, so offshore acquisitions of groups with Mexican subsidiaries need checking.
Fines scale up sharply. The top fine would rise from 5,000 to 200,000 UMA.

Sources

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