Do Foreigners Feel Safe Living in Mexico? Testimonials From Expats in Mexico

Posted by Mexlaw

There is a lot of media sensationalism about the dangers of living in Mexico, but those of us who are living in Mexico have to disagree. Of course, like any country, there are areas you should avoid, and precautions you should take when you are out and about. You should always be aware of your surroundings, but the greater part of Mexico, especially those states catering to tourists and expats are perfectly safe. Every day more foreigners make the decision to move to Mexico. The immigration office in Playa del Carmen reports that they process an average of 60 new procedures a day.

02 February

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Avoiding Online Real Estate Scams in Mexico

Posted by Mexlaw

in Legal Services, MexLaw, Real Estate

Researching properties online is a great way to get an overall view of available properties in Mexico. It is exciting to search and dream about purchasing one of the amazing vacation homes featured on the net. The internet is also a great tool to search for the most popular areas, or if you prefer the most secluded properties and obtain the general price range of your new home. However, there are many online real estate scams, here are a few pointers from our Mexican Real Estate Legal Team on how to avoid them. Do not engage with an online “seller”...

17 January

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Is Your Mexican Real Estate Agent Licensed to Sell Property?

Posted by Mexlaw

in MexLaw, Real Estate

If you are investing in property anywhere in the world, it is important to hire professionals to assist you with your purchase and ensure your investment is protected. In the past, anyone in Mexico could claim to be a real estate agent or rental agent, there were no licenses or regulations in place. In the state of Quintana Roo, one of the fastest growing real estate markets in Mexico, new real estate regulations have been imposed. The new license requirements were published on July 6, 2014. Although the law has been in effect for a few years now, it has...

08 December

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Real Estate Purchase and a Bank Trust Assignment of Rights

Posted by Mexlaw

in MexLaw, Real Estate

Foreigners buying property in the restricted zone of Mexico are required to purchase through a (fideicomiso) bank trust. In some cases, the buyer will take over an existing bank trust. This is known as an Assignment of Rights (Cesion de Derechos) and depending on the amount of time left on the existing trust, you may be advised as the buyer to take over the trust rather than pay set-up costs to create a new trust. In order to create a new trust, there will be added fees and the cost of extinguishing the current trust. Anytime a person accepts to carry...

08 December

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Take Advantage of Discounted Property Taxes (Impuesto Predial)

Posted by Mexlaw

in MexLaw, Real Estate

By owning property in Mexico, you already enjoy a lower cost of maintenance and taxes, but did you know you may take advantage of further discounts by prepaying your Impuesto Predial? January is tax time for property owners in Mexico; property tax Impuesto Predial is calculated in the first two months of the year. Discounts are available if you pay your property tax in full before the due date. The percentage of the discount may vary from state to state and from year to year, ranging from a 5% to 20% discount depending on when you pay your taxes. In Quintana...