30 June

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Getting a CURP Number for Foreigners with Residency in Mexico

Posted by MexLaw

The CURP “Clave Única de Registro de Población” in English, Unique Population Registry Code is Mexico’s version of Social Security or Social Insurance number. The CURP is a unique identification number which is assigned to each person living in Mexico. You will have this same CURP number for life. If you are residing in Mexico and hold a Temporary Resident Card or Permanent Resident Card you will need to apply for your CURP; it is probably the easiest step of your immigration process, There is no added cost to receive the CURP. The CURP is required when you apply for...

21 June

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Real Estate Financing For Foreigners in Mexico

Posted by MexLaw

in MexLaw

Cabo Secured Lending can help you realize your dream of owning property, whether its for a single family residence, condo, or property for development Mexico is home to the largest number of Americans living outside the United States. Many Americans and foreigners from all over the world come to Mexico to invest in property. Purchasing Mexican real estate offers many advantages, one being having a home in Mexico which will practically pay for itself while having the potential to appreciate in value. Whether your intentions are to snowbird in Mexico and rent it out the remainder of the year or invest...

21 June

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Avoid Vehicle Seizure and Fines by Legalizing Your Vehicle in Mexico

Posted by MexLaw

in Immigration, MexLaw

Legalizing your vehicle in Mexico can be a complicated process with changing rules and requirements of different Aduana (Customs) authorities and the so-called gray areas of the laws. MEXLAW will provide you with valuable information to help you make the decision whether or not to keep your foreign vehicle in Mexico. Many foreigners are unaware of the importation laws when they arrive. We can help you determine what type of import suits your needs and avoid unnecessary expenses in the future. TEMPORARY IMPORTATION Temporary Importation is a limited time permit. Once it expires, you must return your vehicle to your home country...

21 June

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Closing the Deal – Real Estate in Mexico

Posted by MexLaw

in MexLaw, Real Estate

Did you know foreigners can buy property in Mexico without holding resident status? Although visitors to Mexico can purchase real estate without applying for temporary or permanent residence, holding a resident card will benefit you when it comes time to sell. Claiming the property as your principal residence may exempt you from any capital gains tax on the sale. Obtaining Mexican citizenship will allow you to purchase property in the restricted zone, which refers to properties that are 100 kilometers from the border and 50 kilometers from the coastline, without a fideicomiso, bank trust or a Mexican corporation. You have found...

21 June

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Tips on Securing Your Vacation Home in Mexico

Posted by MexLaw

in Insurance, MexLaw

So you found your dream home in Mexico, now it is time to shop for a homeowners insurance policy to protect your investment. Unexpected loss happens, whether it is loss through robbery, vandalism, fire, flooding or a natural disaster. Vacation homes are at higher risk of loss as some foreigner property owners only stay six months and leave the home vacant for the remainder of the year. A significant portion of real estate purchased by foreigners in Mexico is condominiums. In this case, the condo association will have a blanket policy to insure the structure, common areas, fixtures, and amenities....

09 June

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Hiring Legal Counsel For Your Homeowners Association

Posted by MexLaw

in Legal Services, MexLaw

Serving on a Homeowners Association board can be time-consuming and at times stressful. There are many regulations and laws, including state and condo laws which the complex must abide by; it can be difficult to understand and comply with the various legal obligations. Moreover, since the condominium complex is made up of many different personalities, emotions can run high when you are addressing issues regarding people's homes and their investments. It is always best to have legal counsel on board before problems arise, be prepared and do not wait till there are serious issues before hiring an attorney. Competent legal...

07 June

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Americans with Mexican Investments, Do You Know About Form 8938?

Posted by MexLaw

in MexLaw

U.S. citizens and resident aliens are required by law to report any worldwide income, including any income from foreign trusts and foreign bank and securities accounts. These laws also require all non-US financial institutions to report the identities and assets of any US citizen to the US treasury. Form 8938, is a Statement of Specified Foreign Financial Assets This form is used to report foreign financial assets if the total value of all the foreign financial assets in which you have an interest in exceeds the reporting threshold. U.S. taxpayers living in the US and holding specified foreign financial assets with an...

29 May

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Quick Facts About Assemblies for Condominium Owners in Mexico

Posted by MexLaw

in MexLaw, Real Estate

Foreigners who are thinking about investing in Mexico, whether as a 2nd home or a permanent relocation, typically have a condo near the beach in mind. Downsizing and enjoying a more affordable lifestyle go hand in hand with living in Mexico. Living in a condominium has many advantages such as easy upkeep, security, amenities, swimming pools and fitness centers, investment, an opportunity for rental income, and also a social aspect which comes with living in a condo complex. Condominium ownership is best described as real estate of any shape or size available for individual ownership with undividable common areas for...

04 May

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Frequently Asked Questions Regarding Foreigners and Title Deed in Mexico

Posted by MexLaw

in Legal Services, MexLaw

As an investor in Mexican real estate, it is essential to understand the title registration process and have reliable legal representation before you hand over your money. Foreigners risk losing everything if they do not hire a reputable law firm to represent them and ensure they receive the title on the property.

04 May

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Marketing Tips For Your Vacation Rental Property in Mexico

Posted by MexLaw

in Legal Services, MexLaw, Real Estate

Foreigners looking to invest in a second property or retirement home are looking towards Mexico. The constant influx of tourists arriving on both coasts of Mexico, Riviera Nayarit, and the Riviera Maya indicate a demand for vacation rentals, is impacting foreign interest in real estate opportunities.

Both of these Mexican beach locations have a huge demand for rental properties with a growing number of travelers preferring to stay in private residences over big brand resorts.

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