Property Listing Requirements

• First, we need a listing contract which allows us to represent you and express permission to promote your unit in the marketing media agreed.
• Property title with information from the Public Registry Office.
• Property tax payment recipt.
• Proof of address such as a utility bill.
• Homeowner's fee payment.
• Government-issued ID.
• Personal information such as full legal name, date and place of birth, contact information and residential address.
• Beneficiary's information.

Documents required

• Birth certificate
• Government-issued passport
• Driver's license
• CURP
• Marriage certificate if it applies
• Development's regulations and regiment agreement
• Assembly proceedings protocol
• Power of attorney for act of domain
• Constitutive proceedings for moral status
• Escrow script

Deed title

A deed is a public document submitted by a public notary, who states all the information related to the property's history, registration on the public registry office and grants its ownership. The public notary that signs with the granter provides faith of the judicial capacity of the content and date that the property changes ownership.

Trust:

Mexican law states non-natives are unpermitted to acquire real-estate directly in some areas of the country. It also states that the purchase or sale of property located in a strip of fifty kilometers along the coast and a hundred kilometers along borders is unpermitted in terms of full ownership to foreign individuals or corporations for residential purposes. The areas above mentioned are legally defined as prohibited or restricted areas. Potential non-native investors who are interested in purchasing property located in these areas must channel their purposes through the establishment of a Trust with a Mexican bank. The trust is a legal instrument valuable to foreign investors wishing to acquire properties, invest in tourism or industrial developments for a time period of fifty years renewable.

Acquiring real-estate as a non-native

Non-natives can in fact acquire real-estate in Mexico, though there are legal steps to follow. The property must be purchased through a bank trust, known as "fideicomiso" in Spanish. This is required primarily if the property is placed within a hundred kilometers of a border or fifty kilometers of the coastline.

What is a bank trust?

A bank trust or fideicomiso is a commercial contract governed by Mexico's general law of credit instruments and operations. It includes a number of mandatory provisions which can not be modified or waived. It is a trust held under the client's name in a Mexican bank, which acts as the fiduciary. As the beneficiary of the trust, you mainting absolute control, use and maintenance of the property as well as decision-making. This trust is not a least, but it could be equivalent to an American fiduciary. The trust gives the beneficiary the capability to use it, lease it, sell it, among other actions.

What is the CURP?

The Unique Population Registry Code is a unique identity code for both citizens and residents of Mexico. Each CURP code is a unique alphanumeric eighteen character string present on the resident card of a non-native.

What is the public registry of property and commerce?

The Public Registry of Property provides the registry services to make legal acts and deeds public by requirement of the law. Aiming to preserve the judicial security of real-estates and mercantile, the Public Registry of Property must apply the registry principles of publicity, legitimacy, consent, qualification and principle of party disposition. This institution creates deeds as official instruments which can be researched at any time in the local offices. The deeds must be finalized and signed by a public notary, and it will typically list the parties involved in the transaction. The deed identifies the property and once it's finalized and signed by all parties the transaction can be considered closed.

Does the sale of a property need to go through a public notary?

Public notaries are state authorities whose responsibility is to aid in the prevention of fraud, working as impartial witnesses who certify the authenticity of a document. They are licensed attorneys who write wills, mortgages and several other legal documents. In short, a sale must go through a public notary to acquire legal authenticity.

Can non-natives get a mortgage loan in Mexico?

Financing is currently available for citizens of the United States, Canada, United Kingdom and Spain. There are financial institutions that work locally and have been improving their service quality and lowering their rates to entice more investors.

Can non-natives open a bank account in Mexico?

• Non-natives can open bank accounts in Mexico by meeting this requirements:
  • Having a passport
  • Having proof of address
  • Tourist card or FM3
  • Given in Arrival in Mexico
  • Local references, try to have at least three
  • Initial deposit of around three thousand Mexican pesos

Does a non-native pay capital gains tax on closing when selling a property?

To set it short yes, if someone earns money of a sale they must pay taxes. This applies when they are not a full time resident and tax payer. The concept of capital gain tax does not apply in the same way it behaves in the United States. It could be stated that the tax on the gain is of thirty-five percent. For example, selling a property with an initial price of one hundred thousand dollars for two hundred thousand dollars would generate a thirty-five thousand dollar tax. To determine the gain the original land cost and depreciated construction cost are deducted from the amount for which the property is officially sold for.