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elizabeth
Senior Nomad
Posts: 742
Registered: 7-30-2004
Location: Loreto, BCS
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Judy,
That is, from my point of view, the best way to deal with the trust/ownership issue. Once I get permanently settle, I intend to do that as well. I
also think that becoming a citizen of the country in which you live says something about your commitment to be more than a tourist, but rather a
permanent resident of a community with all the benefits and responsibilities that entails. Besides, just think of the fun of having two passports to
use!
[Edited on 1-8-2006 by elizabeth]
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oladulce
Super Nomad
Posts: 1625
Registered: 5-30-2005
Location: bcs
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| Quote: | Originally posted by elizabeth
If you look at Mexican history, and the losses of land that was occupied and then taken over, you can understand the reasoning that led to the
restriction in the 1917 constitution. |
Yes, in 1917 !
Is it pride? the dynamics of the US/Mexico relationship? Would it be that difficult to amend their constitution to allow direct foreign ownership in
the restricted zones? I guess there's really no motivation for them to change this law because they have us by the shorts and those of us who it
effects must not have a very influential voice. Are they really concerned about bands of wild, gray-haired retirees and ex-pats occupying their
coasts? Hang on, maybe we are...
We'll never qualify for Mexican citizenship because we'll only live there half of each year when we retire so we'll always have a fideicomiso.
It was interesting to compare the purchase of our other retirement property in Central America to the Mexican process:
- Fee simple title ownership
- the entire process was completed in 1 month
- total fees and taxes =$2,000
- no special Impact studies, permits or "concessions" will be needed to build on the beach.
- zero capital gains tax
Part of the "charm" of owning property in Mexico has worn off over the years along with the permits, "incentive payments" that are often needed to get
some government officials to do their jobs, and the overall lack of accountability. Seems like we're in the thick of this crap a lot lately and
hopefully, once we get our other property finally sold and finish building our retirement home, we won't have to deal with it so often.
[Edited on 1-9-2006 by oladulce]
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bajajudy
Elite Nomad
Posts: 6886
Registered: 10-4-2004
Location: San Jose del Cabo,BCS
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Mexican Citizenship
Well, this is my home now. I have nothing but a storage unit in the states and, boy, do I wish I didnt even have that....6 years rent...muy carro.
Also, with our new business, we need to become part of this community that we call home. I must add that one of the unexpected pluses of having the
business is all the wonderful local people we have met and become friends with. That feeling of community that you didnt even miss until you have it
again. I cherish my newly found Mexican friends. Just one more thing that I have to be thankful for in my new life.
Gracias a Dios
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bajalou
Ultra Nomad
Posts: 4459
Registered: 3-11-2004
Location: South of the broder
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I think that the "Are they really concerned about bands of wild, gray-haired, retirees and ex-pats occupying their coasts? Hang on, maybe we are..."
would never have a chance at all if the law were changed. Some lessons learned need to be remembered.
No Bad Days
\"Never argue with an idiot. People watching may not be able to tell the difference\"
\"The trouble with doing nothing is - how do I know when I\'m done?\"
Nomad Baja Interactive map
And in the San Felipe area - check out Valle Chico area |
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Dave
Elite Nomad
Posts: 6005
Registered: 11-5-2002
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| Quote: | Originally posted by elizabeth
Judy,
That is, from my point of view, the best way to deal with the trust/ownership issue. Once I get permanently settle, I intend to do that as well. I
also think that becoming a citizen of the country in which you live says something about your commitment to be more than a tourist, but rather a
permanent resident of a community with all the benefits and responsibilities that entails. Besides, just think of the fun of having two
passports to use!
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Something to think about before you take the plunge:
If you become a Mexican citizen you can no longer hide behind your U.S. passport. When in Mexico, never carry both.
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Osprey
Ultra Nomad
Posts: 3694
Registered: 5-23-2004
Location: Baja Ca. Sur
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Dual citizenship has some fairly obvious advantages for gringos with property in Mexico. Before I would give up my FM3 I would like to know any
disadvantages of obtaining dual citizenship. My quote "if you like the way Mexico treats its citizens, you're gonna love living full time under their
laws with your new-found dual status." What can one lose? How do Mexican courts treat those who enjoy the status? What brand new legal
responsibilities come with the new status? Any changes in how the U.S. treats your citizenry status once you spit it? Anybody have good stories, bad
stories, been there, done that?
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elizabeth
Senior Nomad
Posts: 742
Registered: 7-30-2004
Location: Loreto, BCS
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Dave
I wasn't thinking about using both passports at the same time...just joking about things like using the US passport to go into the US and the Mexican
passport to get back into Mexico...using whichever works best in other countries.
I'm not sure I know what you mean about "hiding" behind a US passport...
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Bob and Susan
Elite Nomad
Posts: 8813
Registered: 8-20-2003
Location: Mulege BCS on the BAY
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Mood: Full Time Residents
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Have you ever walked across the border...no border agents to ask you ANY questions...just come-on-in....
just when you go thru the turnstyle don't think you're returning that easy.
We keep them out....they don't keep us out
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oladulce
Super Nomad
Posts: 1625
Registered: 5-30-2005
Location: bcs
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| Quote: | Originally posted by lencho
Sure are. In spite of the constitution, the way it's going, within a short time not many Mexicans are going to be able to afford desirable coastal
real estate in their own country. I can't fault some resentment on their part...
--Larry |
I know how they feel Larry. I can't afford desirable coastal real estate in my own country either, and I resent that there are way too many rich
people.
[Edited on 1-11-2006 by oladulce]
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Skeet/Loreto
Ultra Nomad
Posts: 4709
Registered: 9-2-2003
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Dulce:
I am confused at your statement?
Why do you resent that there "Are to many Rich People"?
What do you resent about Rich people?
Skeet/Loreto
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Dave
Elite Nomad
Posts: 6005
Registered: 11-5-2002
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| Quote: | Originally posted by oladulce
| Quote: | Originally posted by lencho
Sure are. In spite of the constitution, the way it's going, within a short time not many Mexicans are going to be able to afford desirable coastal
real estate in their own country. I can't fault some resentment on their part...
--Larry |
I know how they feel Larry. I can't afford desirable coastal real estate in my own country either, and I resent that there are way too many
rich people.
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Of course, you realize it's all the Mexicans fault. If they didn't work so cheap the rich, wouldn't be. 
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oladulce
Super Nomad
Posts: 1625
Registered: 5-30-2005
Location: bcs
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Guess I wasn't very clear Skeet.
Larry pointed out that Mexicans may resent Foreigners for moving in and raising the cost of coastal property in Baja.
My friends joke that the abundance of "rich people" coming from who-knows-where is the reason we can't afford to buy a home at the beach where we grew
up in Calif. I thought that this comparison to the Mexican viewpoint was interesting.
You're right Skeet, I shouldn't try to be funny.
[Edited on 1-12-2006 by oladulce]
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Skeet/Loreto
Ultra Nomad
Posts: 4709
Registered: 9-2-2003
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Dulce: thanks for the Post.
You know that in many small towns in the USA, the cost of property has gone up so fast that many people cannot buy up any of the Property.
But those Rich are generally the ones who were not Rich 20 years ago.
Interesting economics.
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mcgyver
Nomad
Posts: 444
Registered: 8-22-2003
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It is not just the beaches! I recently investigated the prices in the little village of San Matias on Highway 1, it is at an altitude of 3300 feet and
somewhat cooler in the summer than San Felipe. When I lived nearby (off Mikes Sky Ranch Rd.) in the early '90s bare lots could be had for less than
$1000, simple block or adobe house for $3000 or less.
San Matias was discovered in the mid '90s by the gringos, SS retirees, retired military and San Felipe persons wanting a cooler summer place. Now
in 2006 it has been infiltrated by El Dorado Ranch overflow, San Felipe professionals etc.
Now expect to be asked $20,000 for the simple block house on a single lot, $3000 for a bare lot and $50,000 for a nice 2 bedroom home and there are
a few much more than that.
The only surprising thing to me is that any Mexican who can get out of the place has not moved to Corona, Ca. or some where like it where they can
live the good life too.
| Quote: |
Sure are. In spite of the constitution, the way it's going, within a short time not many Mexicans are going to be able to afford desirable coastal
real estate in their own country. I can't fault some resentment on their part...
--Larry |
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mcgyver
Nomad
Posts: 444
Registered: 8-22-2003
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ADDENDUM
I once leased a 200 Acre rancho with adobe house, shade trees, windmill with good water on a running river, fenced with locked gates, 8 miles from the
beach, 17 miles from San Quintin for the enormous sum of $30 a month. Wish I had took a 30 year lease on it!
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