Mexican Corporation or Mexican Bank Trust (Fideicomiso)

phil&sue · #1 (**permalink**) 3rd February 2009, 02:49 PM

We have a question about which is the best way to go. Should we purchase land in a Mexican Corporation or Mexican Bank Trust (Fideicomiso) and why?

Thanks for your time,

Phil & Sue

RVGRINGO · #2 (**permalink**) 3rd February 2009, 03:28 PM

Unless you are buying within the restricted zones along the border or the seacoast, you may buy property through a direct deed, the simplest and most economical method. Otherwise, you should discuss your situation with a Notario.

shari · #3 (**permalink**) 3rd February 2009, 03:37 PM

Depends if you will operate a business or not. A corporation is just that...it is a cheaper up front way to purchase land particularly if you are buying more than 2,000 square meters or more lots...but keep in mind you need to pay an accountant around $60 a month to "do" the bookeeping...and you really should have some sort of business...also there are restrictions to living in the place of business. Think carefully before starting a business...bank trusts are more expensive but easier to maintain.

Heather77 · #4 (**permalink**) 11th April 2009, 11:34 AM

My place is on the beach,& we have a bank trust. It comes to around $500 U.S. Per yer.

yucatanrob · #5 (**permalink**) 7th February 2011, 03:47 PM

Hi Phil and Sue

Definitely with a bank trust if you do not intend to run a business down here.

Although the cost of opening a corporation is comparable to that of a trust the laws have changed and you have heavier monthly filing fees with the Hacienda, plus a previous ability to make your corporation dormant has vanished and it cost thousands and takes 5 years to dissolve a corporation ....

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