Originally posted by arrowhead
wsdunc, you should just ignore everything squidwad said. He has absolutely no clue.
There are two separate areas of the law which he has somehow put together into one big continuum. First there is the Mexican Foreign Investment Law.
That is the law that says foreigners can own land in the restricted zone under a fideicomiso. When you get a fideicomiso, the bank actually makes an
application to the Foreign Ministry for permission to hold the land for you. If you have a fideicomisio on your land, then you are good to go. You do
not need any form of Mexican visa to own that land. The Foreign Ministry has already approved it. Furthermore, in spite of what squidwad said, you do
not actually own the land. Bare legal title is held by the bank. The bank is the owner of record of the land. You have a fideicomiso, which is really
a contract between you and the bank that describes what you can do with the land owned by the bank. There is no legal requirement in Mexico to hold a
visa to simply own real estate in Mexico.
Now as to the second issue: immigration. In order for you to be in Mexico, you need a visa which describes the duration of your stay and the things
that you can do while there. It could be a FMT, FM3 or FM2. But that has nothing to do with your interest in your land in BCS. Furthermore, squidwad
is wrong about the FMT. It is not just a tourist visa. Take a look at it sometime. It is also a business visa if you have business to conduct in
Mexico, as long you are not employed down there or involved directly in operations as an employer. You can go down there on an FMT and sign contracts,
attend business board meetings, and do all sorts of business related to your Mexican assets on a FMT. |
