In the case that the property in question is for commercial use, then the foreigner can either hold the title to the property in a Trust or through a Mexican Business Corporation, to which he can hold ownership (limitations apply). If the property in question is for Residential purpose, then the mentioned trust is the only way to hold title. The annual fee is based upon a percentage of the value of the home. The cost for initiating a fideicomiso is around US$2800.00 and there is also an annual fee to the bank for maintaining the fideicomiso. In other words the Foreigner has the rights to lease it, rent it, sell it, will it, etc. The beneficiary of the trust can exercise the personal rights regarding the trust and the property placed therein. In the trust, the Mexican fiduciary bank holds the title for the foreigners and performs all acts considered real rights, per the instructions of the beneficiary of the trust (the foreigner). NOTE: Mexicans and people with mexican citizenship, can buy and retain direct ownership for properties within the restricted zone without the Bank Trust or the Corporation. They can however hold the title thereto via the long term bank title transfer trust or via a Mexican Business Corporation (depending upon the use of the property). In the Restricted Zone foreigners can not own direct title to real estate located therein. It is the land area within 100-kilometers of Mexico's international land borders (US, Belize and Guatemala) and the land area within 50-kilometers of Mexico's ocean front areas (the coast lines of Mexico). The Restricted Zone in Mexico (known in the past as the "Prohibited Zone") is set up as such in the Mexican Federal Constitution. THE RESTRICTED ZONE & OPTIONS TO BUY WITHIN IT
#Hold the line foreigner how to
However, under Mexican law, foreigners cannot own direct property within the restricted zone (please read the next section to learn how to acquire property within the restricted zone). Yes, any foreigner may obtain ownership of property in the interior of Mexico, they just need a permit from Foreigner Affair's Office.
0 kommentar(er)
