neilm81301
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Can an american buy land anywhere in Baja?
That is, buy outright, without the fideocomisa(sp?)? I seem to recall a minimum distance (50K?) from the border & coast - is that right?
Thanks,
Neil
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bajacalifornian
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Two ways:
1) By way of a your Mexican Corporation, your partner in the corp a Mexican
2) By way of your own Mexician Citizenship.
American by birth, Mexican by choice.
Signature addendum: Danish physicist — Niels Bohr — who said, “The opposite of one profound truth may very well be another profound truth.
Jeff Petersen
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Gaucho
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Mood: Bohemia por favor...
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| Quote: | Originally posted by neilm81301
That is, buy outright, without the fideocomisa(sp?)? I seem to recall a minimum distance (50K?) from the border & coast - is that right?
Thanks,
Neil |
In Baja, no. Mainland Mexico, yes.
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durrelllrobert
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I think there is one small area south of Rumorosa that meets the distance requirments.
Bob Durrell
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Wally
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From a real estate broker's website.
"With the advent of the North American Free Trade Agreement (NAFTA), the Mexican government recognized that it was crucial to make foreign investment
in Mexico safer and easier for non-Mexicans. Because the Mexican Constitution prohibits non-Mexicans from purchasing or owning real estate within 60
miles of the U.S. international border, or within 30 miles of the Mexican coast, an innovative and secure method of holding title was created. This
method allows non-Mexicans ownership through a Mexican property trust called a Fideicomiso. This is a trust agreement, much like an estate trust in
the U.S., which gives the Purchaser all of the rights of ownership."
.
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mtgoat666
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| Quote: | Originally posted by Wally
From a real estate broker's website.
"With the advent of the North American Free Trade Agreement (NAFTA), the Mexican government recognized that it was crucial to make foreign investment
in Mexico safer and easier for non-Mexicans. Because the Mexican Constitution prohibits non-Mexicans from purchasing or owning real estate within 60
miles of the U.S. international border, or within 30 miles of the Mexican coast, an innovative and secure method of holding title was created. This
method allows non-Mexicans ownership through a Mexican property trust called a Fideicomiso. This is a trust agreement, much like an estate trust in
the U.S., which gives the Purchaser all of the rights of ownership."
. |
if you like living in mountains, a fair amount of land that is >30 mi from coast.... in the wider parts of the peninsula...
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DENNIS
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| Quote: | Originally posted by Gaucho
In Baja, no. Mainland Mexico, yes. |
Actually, there is one small area out near Valle de Trinidad, BCN, that is free and clear of the restricted zone. This is, of course, meaningless,
but nonetheless, true.
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DENNIS
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| Quote: | Originally posted by durrelllrobert
I think there is one small area south of Rumorosa that meets the distance requirments. |
ooops....I didn't see this, but you're right.
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Skeet/Loreto
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I lived in Baja Sur off and one for 30 years. Formed a Mesican corp. and included my Home in the Corp. Also bought and sold 18 Properties there all
under the Corp.
I would encourage anyone who is going to buy and kive in Baja Sur to contact Miguel Isqurida Vivamonte in La Paz and seek his advice.
I had no troubles at all .
Skeet
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neilm81301
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'High country' along Hwy 3
S.E. of Ensenada might make the 60 & 30 mile test.... but maybe the Corp. is the best solution.
Just brainstorming for now, can't afford anything in Cal.
Neil
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Bob and Susan
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buying with a corporation is only legal if you conduct business
with a business you need a tax id number
you need to file tax reports monthly and a yearly one
you need to have permission to work in mexico attached to your visa
you cannot just buy a house with a corp to "skeert" the fido laws
this is a big investment you could lose
the old days are just that...the old days
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Skeet/Loreto
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Bob and Susan I am sure there has been changes since I lived in Loreto.
Contacting Muguel at La Paz is a necessity and he will treat you well.
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BajaDanD
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I think I'll just rent
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CortezBlue
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| Quote: | Originally posted by Bob and Susan
buying with a corporation is only legal if you conduct business
with a business you need a tax id number
you need to file tax reports monthly and a yearly one
you need to have permission to work in mexico attached to your visa
you cannot just buy a house with a corp to "skeert" the fido laws
this is a big investment you could lose
the old days are just that...the old days |
I agree. When I bought my property several years ago, during the boom, there were several attorneys trying to convince me to setup a corporation.
However, as you say, unless you have a corporation that is actually doing business in Mexico, I would not mess with a corporation. Fide's or Fidi's
are a bit expensive up front, but not having to file quarterly tax records with the Mexican IRS will add up over time.
I am actually thinking about getting my citizenship in Mexico in order to get a fee simple ownership of our house, but then what will my son do when I
croak? He will have to put the property into a Fidi again.
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Gaucho
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| Quote: | Originally posted by DENNIS
| Quote: | Originally posted by Gaucho
In Baja, no. Mainland Mexico, yes. |
Actually, there is one small area out near Valle de Trinidad, BCN, that is free and clear of the restricted zone. This is, of course, meaningless,
but nonetheless, true. |
I stand corrected! Just curious, are there foreigners who have purchased land there?
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Maderita
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The info which I see most often is this:
Article 27 of the Constitution, which states that “foreigners cannot own property within 100 kilometers (60 miles) of the border and 50 kilometers (30
miles) of the coastline.”
Adjust those rounded mileage numbers to:
100 km = 62.137 miles
50 km = 31.069 miles
To say "south of La Rumorosa" is misleading. La Rumorosa is only a very few miles outh of the border. The Valle Trinidad area sounds about right.
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DENNIS
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| Quote: | Originally posted by Maderita
The Valle Trinidad area sounds about right. |
It is right, although that's no place to even drive through. Fifteen years ago, Federal Police were being sent here from DF and put up in hotels in
Ensenada. Each morning they would suit up and head out to Trinidad Valley for battles with the drug growers. This was long before the cartel street
crap became an issue, but just about the time that Mexico started seeing the hand writing on the wall.
Trinidad valley is still a growing zone and the rest is history.
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larryC
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I met one person who owns land outright in Baja. He said his land was up in the mountains near the observatory in the san pedro martir. Angel Saad,
notario # 4 in Ensenada helped him with his purchase.
Larry
Off grid, 12-190 watt evergreen solar panels on solar trackers, 2-3648 stacked Outback inverters, 610ah LiFePo4 48v battery bank, FM 60 and MX60
Outback charge controllers, X-240 Outback transformer for 240v from inverters, 6500 watt Kubota diesel generator.
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Heather
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The land we have is in my husband's name, he is a Mexican citizen. My eldest daughter is the benificiary and she has both US and Mexican
citizenship...
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