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Los Cabos

Mar 13
0

Can foreigners buy realty in Baja? A Legal Guide for Americans and Canadians Interested in Real Estate in Mexico

By | buy property, Los Cabos, own in cabo, Uncategorized | No Comments

Yes you can!

Are you an American or Canadian looking to buy property in Los Cabos, Mexico, or anywhere in Baja? You may have heard that foreigners cannot own real estate property in Mexico, but this is not entirely true. In this legal guide, we will tell you about the most common method and how to do it safely.

Start with the basics. A little bit of history to understand why foreigners are not allowed to own realty in Mexico.

Foreigners, Americans, and Canadians included, have historically been banned from owning real estate property in Mexico. The reason for this is due to Mexico’s history of devastating invasions from other countries, including the well-known US invasion in the 19th century, which took more than half of Mexico’s land at the time. Locations like California, Nevada, Utah, New Mexico, Arizona, Colorado, Oklahoma, Kansas, and Wyoming were taken from Mexico with the US invasion.

In response to these invasions, Mexico included in Article 27 of its Constitution the famous general prohibition that “only Mexicans can be direct owners of real estate in Mexico.” This is the technical truth behind the prohibition on foreigners buying realty in Mexico.

For every rule, there is an exception. How to buy property in Baja as a Foreigner.

However, there are exceptions to this rule. In particular, there are several exceptions depending on the location of the property and the purpose of the purchase. Understanding the pros and cons of every option will allow you to decide which of the several exceptions available is the best fit for your transaction.

Undeniably, the most commonly known exception is the Fideicomiso. This exception is the popular vehicle that has allowed foreigners the opportunity to enjoy their beach home in Cabo, La Paz, Todos Santos, and all of Baja. In reality, it works by appointing a Mexican Bank to be the legal owner of the property in Mexico.

If you’re wondering whether this exception is the best fit for you, contact us to schedule a private consultation with a Los Cabos Real Estate Attorney.

The future is Mexico and the time is now: Stay safe when Buying Realty in Baja as a Foreigner.

Despite the constitutional prohibition on foreigners owning property in Mexico, foreign investment in Mexico continues to grow. Specifically, Americans and Canadians lead the list of countries investing in Mexico, and you can join them. In fact, the Mexican President reported that foreign investments grew almost 50% more in the first semester of 2022 compared to 2021.

Presently, there have been a couple of attempts to remove the prohibition of foreigners buying realty in Mexico from the Constitution. However, national security remains the strongest argument against such proposals. The single idea of strategic property, located in international borders, owned by non-Mexicans, remains highly unpopular.

Learn How to Buy Your Home in Mexico safely with the proper advise of your Los Cabos Real Estate Attorney here.

If you’re interested in buying real estate property in Baja as a foreigner, you need the proper legal advice to ensure that you do it safely and within the law. As an expert Los Cabos Real Estate Attorney, we can guide you through the pros and cons of each exception and help you decide which is the best fit for your transaction. Contact us to schedule a private consultation to guide you through the process and help you make your dream of owning property in Baja a reality.

Disclaimer: This article does not provide legal advice. It is for information purposes only. Receiving, viewing, sharing or using this information does not constitute an attorney-client relationship, nor it substitutes the need for professional legal advice.

Jun 28
1
Legal Residence

Obtain legal residence without leaving Mexico

By | Los Cabos | No Comments

The Mexican Immigration Department (“INM” by its abbreviation in Spanish) has issued a new immigration policy to allow foreigners with irregular immigration status to obtain legal residence in Mexico without leaving the country. The main requirements are: 1) you must have entered Mexico before November 9, 2012 and have means to prove it; 2) be in Mexico with an irregular immigration status before January 13, 2015; 3) have a valid passport; and 4) Pay $632 dollars to the Authority for filing fees (2 payments, $78 for the study and $554 when you are authorized). If you meet these requirements, you should be granted legal residence status no later than 30 days after you file your petition.

Foreigners that have been or are about to be deported, that have lied to the Immigration Authority, that were convicted or are involved in a criminal process, in Mexico or abroad, are excluded from the program.

The program expressly prohibits the Immigration Authority from detaining any irregular immigrants who approach them with questions about this program, so you are protected if you want to stop by the immigration office to discuss your case.

The novelty of this program is that, unlike previous policy, you do not have to prove that you have a job to get approval and so far paying a fine is not a requirement. Nonetheless, the fees you have to pay to the Authority are higher than the $178 charged under the last program. The good news is that once you obtain your immigration card, you will not have to renew it for 4 years so it is a smart investment.

The program will end on December 18, 2015. If you would like to take advantage of this program and increase your chances of approval, contact us at info@iiclegal.com

Jun 28
0
IICLegal The Notary is not your legal advisor

¿Did you know that you can get a tourist visa online to visit Mexico?

By | Los Cabos | No Comments

IICLegal

Yes! Remember that piece of paper you are given at the airplane before landing? Well now you can fill in and print it from home before your trip!

The National Immigration Institute (INM) has modernized this procedure to facilitate your registration to enter Mexico’s National territory, with the creation of the electronic visa form called “FMME-T”.

Why should you take advantage of this benefit? a) You will save time and avoid long lines at the airport when you land, b) You can get the maximum length for a tourist visa of 180 days, instead of risking to be given a lower authorization by the immigration officer when you land, c) You don’t have to deal with borrowing a pen at the airplane and fight to fill in all your information in the little square form. You can just type it in the format, copy-paste, and print as many times as needed. d) If you arrive by car, then you can pay the filling fee of your tourist visa online with your credit card, and avoid wasting time finding a bank near the border line so you can pass. You will also avoid getting a fine because you forgot to get the visa when driving through the border.

Great! So, how can you obtain the electronic tourist visa form? Within the 30 days prior to your trip, login to www.inm.gob.mx/fmme, select the language, choose the entry point (location where you will enter the country by airplane or car) and provide your personal information, Passport and the reason for your trip. Now save and print your FMME-T form and present it to the officer when you land.

Do not forget to bring your passport or get your FMME-T stamped in Mexico when you arrrive; otherwise your printed piece of paper will lack validity! And make sure to keep it safe until you leave, because you will have to pay for the replacement if you lose or damage it.

Now, remember that these facilities are only valid for tourist visa cards! If you want a visa to work or to stay in Mexico for longer than 180 days, then contact us at info@iiclegal.comand we will guide you through the regular process so you can obtain the results you want!

Welcome to Mexico!

Jun 22
0
Business Women in Los Cabos

51% of all new business in 2013 in Cabo were opened by women

By | Los Cabos | No Comments

That’s right! Nowadays more women are investing in their own business as a career move and doing great at it! Only 40% of women in Mexico have a paid job and nonetheless, women with their own business represent 37% of Mexico’s GDP. But more importantly, where you stand in this scenario?

* If you are a women that currently has a job, girl, you need to start thinking about opening your own business on the side!

* if you are women with her own business, you need to start thinking about joining AMMJE (the “Mexican Business Women Association”) as the best way to obtain business related training and access to the largest commercial network for women in the world.

* If you are a man, then you should start thinking about hiring women for decision making positions and buy products from business headed by women (studies prove that such decision will make your business more efficient, by increasing your sales in 42% and the return of capital in 66%)

Want more information? Contact me! The IICLEGAL law firm, will be able to assist you with all your business in Mexico