Wednesday, April 24, 2013
Mexico May Eliminate Need for Fideicomisos to Purchase Real Estate When Owned by Americans and Canadians.
The Mexico Chamber of Deputies has voted to eliminate the requirement that foreigners purchase property through Fideicomiso (Trusts) when it is located in the restricted zone (within 50 kilometers of the Ocean and 100 Kilometers of the Border). This law change still must go to the Mexican Senate and be approved by all states. Could be big resistance to the change from all of the Banks and Attorneys that make large sums of money each year from Fideicomisos. READ MORE HERE.