Yucatán Attorneys
Quality, Efficiency and Effectiveness
Quality, Efficiency and Effectiveness
Yucatan Attorneys is a full-service firm. We listen closely to your needs and provide the best advice to give you extraordinary results. We know how difficult it is to do business, buying a home, or simply trying to obtain the right immigration status in a foreign country. We, at Yucatan Attorneys, are here to support and protect you along the process. Our goal is to make our clients’ lives easier. Our integrity, expertise and experience are at your service. We know Mexican Law and speak your language!
Our mission is to promote and participate in the development of your business, giving quick and inexpensive solutions based on reality, helping generate a financial culture.
Your legal advisor in Yucatán. Our expertise is in real estate, immigration and corporate law, but we can also help with contracts, negotiation, habeas corpus (amparo) and notary services.
Our team of experts can help you with federal zone concessions, the import and export of your belongings, appraisals of your home or business and advise you on insurance options.
We assist you in obtaining your temporary or permanent visa, as well as to becoming a Mexican citizen. We represent businesses, as well as individuals and families.
The laws in Mexico are unique and can be complex; therefore we provide legal advice in the process of purchasing or selling real estate to nationals and foreigners.
Corporations in Mexico must follow certain legal requirements. We advise you in the process of creating your corporation, from the very beginning.
We provide training and coaching for your staff to be in charge of the accounting information system and file the obligations in an efficient and timely manner.
Can foreigners buy real estate (lots, houses, condos) in Mexico?
Yes, a person of any nationality is able to legally buy real estate in Mexico. Foreigners can also own property along the ocean front. By Mexican law, properties within the 50 km of any ocean front and 100 km of any country border are acquired via a bank trust (Fideicomiso) or via establishment of a Mexican Corporation.
What is the Mexican restricted zone?
The restricted zone is land within 50 km/30.5 miles of Mexico’s coast, or 100 km/61 miles of Mexico’s country border.
Why was this area restricted to foreigners?
Following a history of invasions, wars and losses of territory, Article 27 of the Mexican Constitution was created in 1917 to protect Mexico from foreign intervention and invasion. The purpose was to stop foreign interests from purchasing strategic coastal and border areas of the country. While today the risk of foreign attack is low, this law remains a founding chapter in the Mexican Constitution.
Today, the restricted zone is merely a legacy of Mexican culture and history. It is not a ploy to stop foreigners from investing in Mexico. In fact, Mexico’s Foreign Investment Law (enacted December 28, 1993) was created to protect foreigner rights in the restricted zone and ensure the safe and legal acquisition of real estate.
What is a Fideicomiso?
A fideicomiso is a trust agreement created for the benefit of the foreign buyer, executed between a Mexican bank and the seller of property in the Restricted Zone. Since foreign buyers do not have the capacity to enter into a normal real estate sales contract, due to Constitutional restrictions, the bank acts on their behalf. The bank, as trustee, buys the property for the foreigner, and has a fiduciary obligation to follow instructions given by the beneficiary. The beneficiary of the trust retains and enjoys all the rights of ownership while the bank holds title to the property. The foreigner is the beneficiary of the trust and is entitled to use, enjoy and, if he or she should decide to, sell the property held in trust at its market value to any eligible buyer.
We’ve received many questions over the years and have compiled a list of the most frequently asked questions. If there’s a question that is not answered, please feel free to contact us directly!
At Yucatan Attorneys, we know your time is important and know you can not always make it to office for a face-to-face consultation with an attorney. Yucatan Attorneys offers online legal consultations with our attorneys via Skype (an online software that provides video chat and voice calls from your computer, tablet or mobile device).
With online legal consultations and meetings you can meet with someone from our team from the comfort of your own home, office or wherever you like. It is our recommendation you are in a private location when participating in a Skype meeting.
When requesting Skype meeting, you will receive a bill to be paid via deposit, transfer or PayPal. For more information, please fill out the form below!
Areas of Practice: Foreign Investment, Legal Translation, Corporate Law and Immigration. Get to know Arhely!