Learn more on taxes, financing, and every-day useful tips.
The Riviera Maya offers amazing options for business. There are condominium developments from top to bottom and many more in their way. Take a look at these 5 things to do before investing. Gather information Trust should be earned. A little research is always good before handing your first payment. Take in count the years ofContinue reading “5 Things to Do Before Investing in a Development”
You may be familiar with the term “escrow” if you’ve done real estate purchases before. In case you haven’t, we’re here to help. What is Escrow? Escrow is a financial arrangement in which two parties enlist a “third party” (who is neither the buyer nor the seller) to temporarily hold money, paperwork, or other assetsContinue reading “Escrow in Real Estate: Benefits and How It Works”
Today we’re here to talk about the closing taxes and other costs and expenses you should take in consideration when buying or selling property in Mexico. Whether it is land, an apartment or a house, you can get great value for money in comparison to prices in the US and Europe. Although, prices in someContinue reading “Closing Taxes and Expenses in Mexico”
The Mexican bank trust is an instrument commonly used for non-Mexican nationals, such as U.S. citizens and Canadians, to purchase coastal land in Mexico. This bank trust in Mexico is known as a “fideicomiso”. Most people use the term “bank trust” simply because it is easier to pronounce than fideicomiso, but when talking in Spanish, youContinue reading “Bank Trust in Mexico: What Is It and How Does It Work?”
When purchasing property, there are some added costs during closing that you should consider. One of them is the acquisition tax or transfer tax. This is, in Spanish, “Impuesto Sobre Adquisiciones de Bienes Inmuebles” This tax went from 2% to 3% as of January 2020. The acquisition tax is calculated on the assessed value ofContinue reading “Acquisition Tax in Playa del Carmen, Update 2020”
Today we’re going to talk about the Mexican Anti-Money Laundering Law. The President of Mexico sent the bill of the Federal Law for Prevention and Identification of Transactions Involving Funds from Illegal Activities and used to Finance Terrorism (Mexican Anti Money Laundering Law). The bill is now effective as of Sep. 1, 2013 This billContinue reading “Mexican Anti-Money Laundering Law”