Get Here Sooner by Investing in a Mexican B&B

Posted by Mexlaw

How do you escape the rat race, and give up working long days and dreaded commutes? Most people work hard all week and struggle to make ends meet, waiting all year for that one vacation in Mexico to get away and unwind. What if that vacation in Mexico was actually your life? Foreigners who are not financially ready to retire but are ready to enjoy life are investing in a rental property or home big enough to operate a B&B. Get a jump start on your retirement life while the rental income supplements your income. Expats living in Mexico are enjoying...

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...

03 April

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Renovations in Mexico, Protect Your Real Estate Investment with a Legal Contract

Posted by Mexlaw

in Legal Services, MexLaw

If you plan on renovating or building a new home in Mexico, you need a legal contract between you and the contractor. As in any country, you would not hand over the money and trust someone with such a large investment. Entering into a legal contract with your contractor will protect you and your property from budget overruns, fraud, and litigation. Living in Mexico you may notice that prices and quotes change, and mañana may not mean tomorrow, home construction can be one of the most stressful events in your life, you need to know you can rely on your...

21 March

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Foreigners Investing in Puerto Vallarta & Riviera Nayarit’s Restricted Zones

Posted by Mexlaw

in Real Estate

If you are looking for affordable oceanside property in Mexico, check out Puerto Vallarta & Riviera Nayarit, situated on the Pacific Ocean's Bahía de Banderas. This area of Mexico is attractive to foreign buyers because of its affordability, continuous growth in real estate sales and a steady increase of visitors creating a high demand for rental properties. Did you know a non-Mexican may buy property in Mexico without residency? There is no requirement for foreigners to apply for residency status prior to purchasing real estate. As a tourist, you may invest in Mexican real estate and enjoy the same protection...

13 January

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Qualify for a Temporary Residency Visa by Investing in Mexico

Posted by Mexlaw

in Immigration, MexLaw

Expats looking to invest in business or purchase property in Mexico will want to have their residence visa in order. Typically you will provide documents proving your income and show that you can support yourself while living in Mexico, but if you are an investor or own real estate in Mexico you may already qualify for a Temporary Residency Visa.

Temporary Residency Visa

This visa is designed for foreigners who intend to stay in the country for more than 180 days and up to four years. The temporary resident card will only be granted for one year. After the first year, temporary residents can apply for one, two or three years renewal of the temporary resident card.