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Alexander Jablonski

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it is really important for potential buyers of real estate in mexico to keep yourself informed about trends and opportunities. homes for sale playa del carmen keeps you updated all the times
How to Buy a Piece of Paradise

Decades ago the Mexican law did not allow foreigners to own real estate in Playa del Carmen, Mexico, within 30 miles of the coastal waters or 50 miles of any land border, but the situation has changed dramatically with the New Foreign Investment Law. The Mexican government now permits two (2) ways in which non-Mexicans can safely and legally own coastal real estate in Playa del Carmen, Mexico.

One way to own real estate in Playa del Carmen, Mexico, is to create a Mexican Corporation (Sociedad Anónima) completely owned by the non-Mexican investors. The Mexican corporation holds title to the property, so the non-Mexicans actually hold title to their property. Such a corporation needs the following:

  • 100% foreign owned
  • Minimum capital requirement of 50,000 Mexican pesos in capital stock (approximately $5,000 USD)
  • Minimum of two shareholders and no maximum (administration may be entrusted to the Board of Directors)
  • No limit to the life of a corporation
  • Free transferability of stock ownership
  • Limited liability to shareholders.
The Process of establishing a corporation requires the following elements:
  • Name of a Mexican company
  • Capital structure of the Mexican company
  • Names of the partners or stockholders
  • Form of management and names of administrators and representatives of the corporation
  • Name of the auditor of the Mexican company

The second way to own property in Playa del Carmen, Mexico, is through a Bank Trust (fideicomiso) whereby a Mexican bank (HSBC, Scotia Bank, and Banamex (which is owned by Citibank)) holds title to the property in a trust with the non-Mexican as the beneficiary of the trust. The Mexican Bank Trust is set up, by the Mexican Bank you chose, as 50-year renewable lease, without limitations. Similar to other countries, in Mexico the owner is the beneficiary of the trust, administers the trust and therefore controls the property. He or she may transfer ownership, lease or improve the property at will. Foreign owners may also enjoy capital gains on sold property and can also instruct the Trust to pass on the property to future generations without the cost of inheritance tax. For both options, it is highly recomended to use the assistance of a Azul Caribbean Realty and a Mexican licensed attorney.

Published Friday, September 3, 2010 9:37 AM by Alexander Jablonski

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