What services does MyCasa.mx offer?

At MyCasa.mx, we specialize in assisting U.S. and Canadian citizens in purchasing real estate in Riviera Maya, Mexico. Our services include property search, legal advice, transaction support, and connecting clients with trusted third-party rental administrators. Afterwards we help you get the most of your property with professional design and rental strategies.

Why buy property in Riviera Maya?

Riviera Maya offers a vibrant blend of natural beauty, rich culture, and robust investment opportunities. Properties here are desirable for vacation rentals due to high tourist traffic, making it a profitable investment for those looking to rent out their homes while they are abroad.

What types of properties can I buy?

We offer a wide range of properties including condos, houses, and luxury villas. Whether you are looking for a cozy beachfront condo or a spacious house for potential retirement, we can help find the right property for your needs.

Can I see the properties remotely?

Yes, we provide virtual tours and detailed online listings for all our properties. Our aim is to make your buying experience as seamless as possible, regardless of where you are located.

How does the vacation rental process work?

When you choose to rent out your property, we connect you with reputable third-party rental administrators who handle everything from marketing to maintenance, ensuring your property is well-managed and profitable.

What are the legal considerations for foreigners buying property in Mexico?

Foreigners can safely invest in Mexican real estate through a fideicomiso (bank trust) or by establishing a Mexican corporation, depending on your long-term goals. We provide expert legal guidance to ensure your investment is secure.

What should I consider before buying a property in Mexico?

Consider factors like location, type of property, potential rental income, legal requirements, and your long-term plans in the region. We advise all our clients to think about their future intentions—whether it’s renting out the property, using it as a vacation home, or eventual retirement.

How can I get started with MyCasa.mx?

Simply contact us through our website, and one of our agents will reach out to discuss your real estate needs and how we can assist you in finding your dream property in Riviera Maya.

Are there financing options available for foreigners?

Yes, there are financing options available for foreigners. We can guide you through the different options and help you find the best solution based on your financial circumstances.

Who manages the property when I am not there?

We partner with experienced rental administrators who specialize in managing vacation rentals. They will take care of everything from tenant screening to property maintenance, ensuring your investment is hassle-free.

What makes MyCasa.mx different from other real estate agencies in Riviera Maya?

Unlike other agencies, MyCasa.mx offers Mexico’s first buyer-facing, video-enhanced MLS-like system. This platform showcases over 800 top properties in Riviera Maya through detailed video walkthroughs, drone footage highlighting the location, and audio descriptions covering key details like square footage and HOA fees. Our system provides a comprehensive view of each property in less than three minutes, ensuring you don’t miss out on any spectacular deals.

How does MyCasa.mx help overcome the challenges of no MLS system in Mexico?

Our unique video-enhanced platform allows buyers to explore all available properties in the region, including resales, pre-constructions, and new constructions, which are often overlooked due to the lack of a centralized MLS system. This comprehensive visibility into the market ensures you have access to the best deals and a true sense of each property’s potential.

Tell me more about the MyCasa Real Reality Show.

At MyCasa.mx, we produce the world’s only real reality show about buying real estate in Riviera Maya. Unlike other pre-scripted or post-purchase produced shows, our reality series documents the actual buying experiences of our clients, in real-time. Hosted by Raul Morales, our engaging and humorous CEO, these shows are not just entertaining but also provide valuable insights into the safe and correct procedures for buying property in the area.

How can the MyCasa Real Reality Show benefit potential buyers?

The show offers viewers a firsthand look at the real estate buying process in Riviera Maya. By watching real buyers navigate the market with our guidance, you can learn essential tips and tricks for making informed decisions. It’s a fun, educational way to understand the local real estate market from the comfort of your home.

2024-25 Relocation Guide (Bonus): Fideicomiso Trusts

2025-01-03 by My Casa

Understanding What Is A Fideicomiso: A Simple Guide to Mexican Property Ownership

A fideicomiso is a legal trust that allows foreigners to own property in Mexico’s restricted zones, such as coastal and border areas. Through this arrangement, a Mexican bank holds the title while the foreign buyer retains full ownership rights, enabling secure property investments in compliance with Mexican law.

Key Takeaways
What Exactly is a Fideicomiso?
How Does a Fideicomiso Function?
Legal Framework Behind Fideicomisos
]Benefits of Using a Fideicomiso
Costs Associated with a Fideicomiso
Common Misconceptions About Fideicomisos
Other Articles About Relocating to Mexico
What are Clients Saying About Mycasa Real Estate?
Frequently Asked Questions

Key Takeaways

A fideicomiso enables foreigners to own property in Mexico’s restricted zones through a bank trust, ensuring legal compliance and ownership rights.
Costs for setting up a fideicomiso include trustee fees, permits, and registration but provide foreign investors with similar rights as Mexican citizens for property use and inheritance planning.
Fideicomisos are also applicable for commercial real estate, offering flexibility for investors to manage and profit from properties.

What Exactly is a Fideicomiso?

A fideicomiso, or real estate trust, allows foreigners to own property in Mexico’s restricted zones—within 100 kilometers of borders or 50 kilometers of coastlines. This structure, established to comply with constitutional restrictions, offers a secure and legal pathway for foreign investment.

Under a fideicomiso, a Mexican bank acts as a trustee, holding the property’s legal title on behalf of the foreign buyer (the beneficiary). While the bank holds the title, the beneficiary retains full ownership rights, including the ability to rent, sell, or modify the property.

This arrangement encourages foreign investment by ensuring compliance with Mexican law while safeguarding the buyer’s rights.

How Does a Fideicomiso Function?

In a fideicomiso, the trustee (a Mexican bank) holds the legal title to the property. However, the foreign beneficiary retains full decision-making authority and ownership rights, including:

Using or modifying the property.
Renting the property to generate income.
Selling the property and keeping all profits.

The bank’s role is purely custodial, ensuring that the property is legally held without interfering in the owner’s decisions. This provides robust security and peace of mind for foreign investors.

Legal Framework Behind Fideicomisos

The fideicomiso system stems from the Mexican constitution’s restriction on foreign land ownership in specific areas. The Foreign Investment Law of 1973 and subsequent amendments in 1992 allowed Mexican banks to act as intermediaries, streamlining the fideicomiso process.

Key benefits include legal protections against unauthorized sales, ensuring compliance with constitutional restrictions while promoting foreign investment.

Benefits of Using a Fideicomiso

Ownership Rights: Foreign buyers enjoy rights equivalent to those of Mexican citizens, including selling, improving, or leasing the property.
Inheritance Planning: Fideicomisos simplify inheritance by allowing the designation of successors, bypassing probate processes.
Security: This legal framework ensures compliance with Mexican law, safeguarding investments.

Costs Associated with a Fideicomiso

Costs associated with a fideicomiso trust.

Initial Setup Costs:
- Trustee setup fee: ~$1,000.
- Permit and registration: ~$1,600.
Public Registry Fees: 0.03% to 1.15% of the property’s value.
Property Appraisals: $1,000 to $1,500. (only when needed)
Acquisition Tax: ~4% of the purchase price.
Annual Maintenance: $500 to $1,000.

These costs ensure legal compliance and the smooth operation of the fideicomiso.

Common Misconceptions About Fideicomisos

Double Taxation: Owning property through a fideicomiso does not result in double taxation. Standard property taxes apply.
Lack of Ownership Rights: Foreign beneficiaries retain full ownership rights, comparable to direct ownership.

What Are Clients Saying About Mycasa Real Estate?

"We have been beyond pleased...we felt in good hands the entire process." Jodi Ribar. Google Review

"...and within 5 minutes, she called me." Leanne Knox. Google Review

"He is incredibly knowledgeable about the area, knows all the details about the property..." Claudia Ruiz. Google Review

"She listened to every single detail of what I was looking for in a property..." Kendra Mangana-Adams. Google Review

Ready to book a trip and shop for your dream home, plan your trip with Google Travel

Frequently Asked Questions

What is a fideicomiso? A fideicomiso is a bank trust that enables foreigners to legally own property in Mexico’s restricted zones.

How long does a fideicomiso last? A fideicomiso lasts for 50 years and can be renewed indefinitely.

What are the costs of a fideicomiso? Setup costs range from $1,000 to $1,600, with additional annual maintenance fees of $700 to $1,000.

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