Frequent questions

YES, you can own property in Mexico not just leasehold rights. A few decades ago, the law did not allow foreigners of any kind to own property within 50 km of coastlines, and within 80 km of the border. The purpose of this law was to protect Mexico's sovereignty by establishing a restricted zone. Today, the most common way to own residential property within the coastline or border of Mexico is through what is known as a Trust. The trust is completely secure and gives foreign individuals, corporations and associations all rights of possession. A Mexican bank is required to manage and represent the owner of the Trust. The beneficiary of the Trust may be an individual, corporation or foreign association.

YES. Creating a Mexican corporation is quite simple, it requires having at least two partners, both of whom can be foreigners. Mexican corporations are allowed to purchase real estate and/or operate businesses. Virtually all Mexican corporations hire an accountant to do their paperwork; as accounting and tax filing is complicated due to existing tax laws that change frequently and the continuous incorporation of new laws.

Real estate tax (property): Based on the municipal appraisal of its value. A four-bedroom beachfront home pays around $1,000 to $1,500. Bank escrow fee: Each bank has different fees. Some have fixed prices and others calculate it according to the estimated value of the property. You can expect a fee between $500.00 and $1,000.00 US dollars in taxes per federal zone; If your property is facing the beach, and you will pay this tax year after year, the calculation is made according to the width of the frontage of the land. A lot with a 20 meter frontage pays around $400 US dollars annually.

YES. Many people know this area given the tourist tradition of the last 25 years. Recently, exposure to the internet has increased the popularity of this Area considerably. There are a large number of companies dedicated to renting properties which contribute to their high occupancy rate. Some of the owners manage their rentals very successfully through websites. Renting property is an excellent option to quickly recover your initial investment.

Most condo developments have a local person who takes care of the property. A monthly fee must be paid for each property the caretaker takes care of to cover expenses. Most houses have a small house at the entrance where the person who takes care of the property lives. This person provides various services to owners and guests. The cost of the fees that must be paid to this person is easily covered by the income. You can also find property managers. These provide property maintenance, payment for services, purchase of cleaning supplies, payment of salaries, supervision of employees, welcome and help their guests, and take care of urgent repairs that the property may need. Todotulum Real Estate will gladly recommend property managers in this Area.

YES. You can ship personal items including appliances to the property. In order to eliminate problems, accurate documentation is required. It is usually done in Mexico prior to presentation and shipping of your belongings. In years past this was common practice. Today, you can find a wide variety of everything you need in Cancun and Playa del Carmen. Generally the prices of the merchandise are a little higher than in the United States or Canada. You should consider the prices and the cost of shipping or transportation of your belongings, which may be high. Cancun has stores such as Sam's Club, Wal-Mart, Costco, Home Depot, Sears, Office Max, Office Depot, as well as other Mexican department stores and super markets. Playa del Carmen already has a Sam's Club, Wal-Mart, and other grocery, furniture, equipment and decoration stores.

YES. According to the law, the maximum time for which you can import your vehicle is 6 months. Recent legislation states that you do not have to leave the country to renew your vehicle papers as long as you have a valid tourist visa or FM3 visa. In any case, a trip to the southern border of Chetumal is only 2.5 hours from Tulum. In Chetumal you can renew your import certificate. Along the way you will find a wide variety of interesting places to visit. Or you can ship your vehicle from Miami to Puerto Morelos.

This part of Mexico has become the ideal place for retirees. There is a large community of Americans that continues to grow, who, attracted by the beauty of the area, the warm winters and tranquility, decide to move to this paradise. Cancun airport offers direct flights to the most important cities in the United States and Europe. Obtaining retired immigration status is a matter of a few days and about $500 if you hire a lawyer to do the paperwork. It is cheaper if you do it yourself, however we recommend using an experienced attorney or law firm to facilitate the process.

It is much simpler than for a Mexican who wants to settle in the United States of America. You have the option of opening a company or working for someone else. If he is going to work for someone else he will need a letter stating that they are offering him a job, explaining his position within the organization and the salary he will receive. If you are going to open a company you can obtain your immigration papers as the administrator of your company and you will need a notary and a reliable accounting company. In this case, can help you in the process and advise you. We have an extensive list of clients whom we have helped with these issues.

Currently there are some American institutions that offer financing to Americans and Canadians to purchase already built houses or condominiums. In most transactions, the only financing offered is that of the seller. Most transactions are carried out with transfers.