Seriously... I've been researching moving out of the US for years. Nothing to do with Bush/Kerry - we thought it would be fun, as our daughter will be graduating High School soon.
Originally posted by Platinum Rinaldo careful they'll rob your ass everyother day there
Not too bad
My mother-in-law told us to take plenty of cash for bribes and stuff. I told her that Mexico now has 4 lane PAVED super-highways and even big jets can land in Guadalajara
Originally posted by Adult Site Traffic Not too bad
My mother-in-law told us to take plenty of cash for bribes and stuff. I told her that Mexico now has 4 lane PAVED super-highways and even big jets can land in Guadalajara
Guadalajara is still horrible for bribes from the police. I'm in Mexico atleast one week per month and try to avoid Guadalajara as much as possible, I try too stick too Mexico City and Monterrey, but sometimes the client needs trips to Guad....not fun...but man I'd love to own that house
Originally posted by Adult Site Traffic
You still have to pay the note off (or pay cash) and it's your house to sell, rent or live in, but your name isn't on the paperwork.
That sounds pretty secure, what could go wrong with that set up?
Originally posted by AndrewKanuck Guadalajara is still horrible for bribes from the police. I'm in Mexico atleast one week per month and try to avoid Guadalajara as much as possible, I try too stick too Mexico City and Monterrey, but sometimes the client needs trips to Guad....not fun...but man I'd love to own that house
Monterrey is an option we're looking at as well as Cabo, Vallarta and Cancun.
The area we're looking at in Guadalajara is Rancho Contendo several miles out which is a gated community out by Lake Chapala.
Originally posted by Adult Site Traffic Good question: You can buy property.
If you're within 25 miles of the ocean then you cannot "own" property if you're not a Mexican citizen.
dude, check this out
As individuals, foreigners can't own property within about 30 miles of the shoreline or about 60 miles of the border. But there are two ways that you can legally own Mexican real estate within these regions. Experts say that both methods are secure, when set up properly.
[1] A bank trust is commonly used for residential real estate, and that's called a fideicomiso in Spanish. The bank "owns" the property but you as trustee have total control of the real estate, for building, selling, putting it in your will and avoiding inheritance taxes, etc. You can list more than one trustee, for example, yourself and your spouse or yourself and a friend.
Bank trusts are good for 50 years and are renewable. Setup fees run somewhere around $500 for this arrangement, and annual fees are about the same. There are regulations on how large the land can be.
[2] You can form a Mexican corporation, but none of the owners can be Mexican. If the land will be used commercially, this is the way to go. Costs to set up this corporation are several times higher than for a bank trust. Mexican corporate tax reports have to be filed, which you would have a Mexican accountant do for you.
not just that, but if I understand it right, they just started lifting those laws about gringos buying land by the ocean, so look into it more...
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