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GOVERNMENT REGULATIONS



OWNERSHIP REGULATIONS:

Foreigners as well as Mexicans are allowed to buy land and properties in all Mexico, without any restrictions , but if you are a foreigner and want to purchase property within 50 kilometers form the coastline or 100 kilometers from the border, you can only do it in two ways: Through a Fideicomiso or through a Mexican foreign owned company. Merida and the coastline fall in this category.

Fideicomiso:

To buy it through a Fideicomiso (a bank trust) in your name, you retain the benefits of ownership of the property, and can sell, lease, transfer, or to will it to your heirs, as you wish. The fideicomiso last for 50 years and is renewable as many times as you want.  To initiate a fideicomiso the initial cost is ------ and there is an annual fee of------to depending on the value of the property. The Fideicomiso is good only if you only plan to buy one or two properties, if they are less than 2000 square meters.

Company:

If you plan to buy property to start a business or plan to buy several properties in Mexico, the formation of a company would be your best choice, this way you avoid the cost of the fideicomiso, but instead will have to be registered in the Mexican IRS and do your normal tax filings like in the US.

To start a corporation you need a minimum of two partners, one of which must be a Mexican resident, so he can have all the faculties of managing the company’s legal and financial matters. It takes about 2-3 weeks to get a Mexican resident visa (FM-3) If you do not have the time, you can give a power of attorney to a Mexican national you trust to act in your name for all legal matters concerning your company until you get your FM-3.