Friday, April 5, 2013

New Proposal Would End Necessity of Fideicomisos for Foreign Owners in Mexico´s Restricted Zone

Federal Legislators in the PRI and PAN party have drafted legislation that would essentially eliminate the necessity for foreigners to own their properties in fideicomisos (trusts) within the Restricted Zones of Mexico. For this act to pass, it would require amending Mexico´s constitution to do so.

Click Here to Read About Fideicomisos & Why They Are Required.

The proposed change is seen as a way to further encourage foreign investment by eliminating the costs associated with a fideicomiso. However, those of you who have taken our seminars know that a trust is a great way to own foreign property in any country, as it eliminates any probate issues for heirs to your property in the event of the property owner´s death.

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Amber Pierce-Schulz is the Broker/Owner of Mayan Riviera Properties, specializing in Puerto Morelos Real Estate and Puerto Morelos Vacation Rentals. We are members of AMPI and Federally Certified Realtors.