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Mula
Super Nomad
Posts: 1656
Registered: 8-16-2011
Location: San Nicolas y Lopez Mateos
Member Is Offline
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Wow, I am getting a fideicomison on our Lopez place and it is costing about $5,700 USD to set up and activate. I thought that was high. Another
$3,000 to deactivate. Costly!
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oxxo
Banned
Posts: 2347
Registered: 5-17-2006
Location: Wherever I am, I'm there
Member Is Offline
Mood: If I was feeling any better, I'd be twins!
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| Quote: | Originally posted by Mula
Wow, I am getting a fideicomison on our Lopez place and it is costing about $5,700 USD to set up and activate. I thought that was high.
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That sounds very reasonable to me compared to what others are paying.
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BajaBlanca
Select Nomad
Posts: 13212
Registered: 10-28-2008
Location: La Bocana, BCS
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Gilberto answered all my emails - but it took 24 hours. I never called him as far as I can remember. He is slow about answering, no doubt about it.
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oladulce
Super Nomad
Posts: 1625
Registered: 5-30-2005
Location: bcs
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| Quote: | Originally posted by BajaBlanca
original birth certificate - no exceptions
and if you have your husband's name added as your married name, a letter that states your married name is the same person as your single name.
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Ohhhh, that sounds much more do-able. I misunderstood the last time this subject came up and I thought I'd have to change my US passport back to my
maiden name to apply for Mexican citizenship which would have been a nightmare when all other forms of ID were in my married name- nothing would
match.
Our goal has been Inmigrado status because we thought you were relieved of Mex capital gains taxes at that level. If citizenship is required, we'll
have to rethink our goals after a few more Inmigrante renewals.
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RnR
Senior Nomad
Posts: 839
Registered: 5-1-2010
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| Quote: | Originally posted by Bill Collector
The total cost to drop the fideicomiso was around $3,000 US dollars, that was having someone do all the work. We were told as Mexican Citizens we
couldn't have a fideicomiso on our property.
Barb |
Sounds about right.
$500 to the bank as a termination fee. Most fideicomisos contain this clause.
$1,500 to a notary to prepare and record a new deed, (escritura)
Some transfer fees to the government (2%) because this is an actual property transfer from one owner (the bank) to another (you).
Miscellaneous costs/fees, especially if you have an agent do all the legwork for you.
Looks like it would pay off in about six years by not having to pay the annual fideicomiso fees to the bank.
And, minimal (or none) capital gains taxes when the property is actually sold.
P.S. - Just guessing at the fee structure, every situation will probably be different..... 
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Bill Collector
Nomad
Posts: 374
Registered: 1-13-2004
Location: Buena Vista, BCS
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Interesting we didn't need birth certifccates, nor was there a problem with being married. We did apply in La Paz for citizenship. We sold property
when we had Inmigrado and was charged capital gains.
Guess its just who you talk with.
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bajalorena
Nomad
Posts: 141
Registered: 3-31-2009
Location: BuenaVista, BCS
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When we went from fideicomiso to escritura, the notario wanted to charge us the 2% transfer fee (or acquisition fee), and we objected. The tranfer was
not from bank to us, it was us to us. This was the first he had done, so he looked into it and we were correct.
I also can recommend Gilberto, he was great when I became a citizen in 2005.
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oladulce
Super Nomad
Posts: 1625
Registered: 5-30-2005
Location: bcs
Member Is Offline
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| Quote: | Originally posted by Bill Collector
... We sold property when we had Inmigrado and was charged capital gains.
Guess its just who you talk with. |
Thanks for sharing that firsthand experience Bill Collector. It makes more sense that you'd have to have citizenship to be free from capital gains tax
I guess. But I was sure hoping the Inmigrado information was correct, dang! Looks like there's going to be a big change in our future immigration
plans cause our focus is the capital gains tax issue.
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