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MEXLAW > Blog (Page 7)

The Most Desired Property in Mexico can be Found in the Restricted Zone.

Beachfront property is the most desired land in Mexico; this type of property is considered the restricted zone. Owning the most valuable property in Mexico is not out of reach for foreigners, but there are some extra procedures to complete in order to obtain it. The restricted zones are defined as the strip of land located 100 kilometers along the borders and 50 kilometers from the coast of the national territory, within which foreigners and foreign companies are impeded in absolute terms from acquiring direct control over land, waters and their entry points, for reasons of security and conservation of...

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Details of a Bank Trust for Property Purchased in the Restricted Zone (Fideicomiso en Zona Restringida)

As a foreigner purchasing property in the restricted zone, you will be required to purchase through a bank trust called a fideicomiso. The bank trust was created in order to comply with the provisions of Article 27 of the Mexican Constitution in which foreigners are limited from acquiring direct title of lands or waters within a range of 100 kilometers from any national border and within 50 kilometers from any coast, these areas are called restricted zones. The bank is the owner of the property. However, the beneficiary has all rights over the property, and the rights allow you to: sell,...

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Understanding the Process of Being Accused of a Crime in Mexico

As a traveler or an expat living in a foreign country, you need to be aware of the laws and the legal procedures of that state. Being accused of a crime in a foreign country can be a frightening and costly experience, and it becomes even more worrisome when you do not know the process or the rights that are available to you. If you are arrested, the state will assign a public defender if you can not afford a lawyer. However, having a private defense lawyer is of great importance, since you may face criminal charges in which your...

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ONGOING TRAINING AND DEVELOPMENT AT MEXLAW AND MEXTAX

To be reliable and competent, professionals must continue to enhance their education and not rely exclusively on personal experiences. Everywhere else in North America, professionals such as lawyers and accountants must maintain current knowledge of the law and accounting rules to better advise and serve their clients. MexLaw and MexTax observe this international principle by requiring that lawyers and accountants on their team must complete a minimum of 30 hours per year of advanced training or refresh their knowledge to better serve our clients. We would like to congratulate those members of our team, pictured above, that recently dedicated 15 hours...

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BECOMING A NON-RESIDENT OF CANADA FOR TAX PURPOSES

If you are a Canadian residing in Mexico, you should consider the possibility of becoming a non-resident Canadian for tax purposes only. This article will explain how to do that. It will not consider the benefits or advantages for making this selection. This is always a personal decision and will be based on individual choices, values, and priorities. We will review the practical steps and will attempt to eliminate common myths regarding non-residency status for Canadians. Other than the tax benefits of renouncing their residency status, Canadians should remember that, if they reside outside of Canada for more than 183 days,...

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