K.C.

(999) 287 0775

Architectural Services

Real Estate in Mérida, Yucatán

How to buy?

Foreigners can own land in Mexico. Outside the restricted zones (50 kilometers from shorelines and 100 kilometers from international borders) foreigners can hold direct deed to a property with the same rights and responsibilities as Mexican nationals. Inside the restricted zones, foreigners can control land through "fideicomisos", or bank trust agreements, with the same responsibilities as Mexican nationals.

Three ways to buy property:

a) "Fideicomiso" - a way to buy a property in "restricted zones", it is a trust contract where the bank has all obligations to the owner. Under this contract you have control of the trust and you will be able to make any decisions regarding the property. Owning this trust deed you will be able to list more than one person as beneficiary. Trust are issued for renewable 50-year periods.

The bank charges an initial fee (approx. $1,500.00 USD) to set up the" Fideicomiso", plus a percentage based on the value of the property. Also, the bank charges an annual fee (depending on the values of the property) to cover its services as a trustee (approx. $500.00 USD).

 

b) Mexican Corporation - If you are planning to use your property as commercial use, you will need to create a Mexican corporation. If you buy a property as a commercial property, you cannot legally live in it. If you buy it through a bank trust as a residential property, you can live in it or rent it for income or both. A Mexican corporation will cost between $1,500.00USD and $3,000.00USD to set it up, and if you plan to pay a Mexican accountant it will cost about $50 to $100 USD a month.

c) Direct deed is called "la escritura pública de dominio directo" - This is good only if you are buying outside the restricted zone.

If you would like to see any of the properties we will ask for at least a two day notice. We can provide transportation and it will cost $25 USD for half a day and $50 USD for a full day.
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