# anyone with income property?



## scm7675 (Jun 19, 2015)

So my mom was getting her tax return done and her CPA has some rental units in Rosarito, and has some clients with rentals around Mexico. She says they're worried about the security of those investments due to the current -ahem- situation. Does anyone here have rental property? Are you concerned? It seems unlikely to me that the government will want to curtail foreign investing, but maybe I'm missing something.


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## RVGRINGO (May 16, 2007)

The main concern that the Mexican government will have is, if the expat owners of rental property have Residente Permanente visas, or Temporal Lucrativa, and a Mexican RFC, CURP, accountant filing the routine taxes with SAT, etc.


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## scm7675 (Jun 19, 2015)

Sorry for the delayed thanks -- been having some problems with the mobile version of this site. So if I understand your correctly, get an abogado.


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## RVGRINGO (May 16, 2007)

Why? What are you concerned about? An abogado is a lawyer. For a real estate transaction, you need a specialized, state appointed notario.


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## scm7675 (Jun 19, 2015)

Are there different concerns with income property as opposed to purchasing something for your own use? I find that talking to a lawyer can be helpful when starting a new business venture, to make sure I haven't overlooked something that will become a problem for me later on.

Do you own income property in Mexico?


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## circle110 (Jul 20, 2009)

scm7675 said:


> Are there different concerns with income property as opposed to purchasing something for your own use? I find that talking to a lawyer can be helpful when starting a new business venture, to make sure I haven't overlooked something that will become a problem for me later on.
> 
> Do you own income property in Mexico?


Anything to do with real estate, whether it's for renting to others or living in yourself falls into the domain of the Notario which, as Rvgringo mentioned, is a specialized kind of lawyer. 

A regular lawyer can't touch anything to do with real estate. A law degree in Mexico is little more than the equivalent of an associates degree in the US. Notarios have additional studies and an exam to pass - something a little more like the bar exam in the US.

One professional that might help you out quite a bit would be an accountant. If you earn even a peso in Mexico you have to file monthly tax statements through an accountant and they know the ropes. They could fill you in and then bring in the Notario when required.


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## surabi (Jan 1, 2017)

circle110 said:


> Anything to do with real estate, whether it's for renting to others or living in yourself falls into the domain of the Notario which, as Rvgringo mentioned, is a specialized kind of lawyer.
> 
> A regular lawyer can't touch anything to do with real estate. A law degree in Mexico is little more than the equivalent of an associates degree in the US. Notarios have additional studies and an exam to pass - something a little more like the bar exam in the US.
> 
> One professional that might help you out quite a bit would be an accountant. If you earn even a peso in Mexico you have to file monthly tax statements through an accountant and they know the ropes. They could fill you in and then bring in the Notario when required.


You do have to be registered with Hacienda, have a tax number, file and pay taxes if you earn money in Mexico. But you do not have to file "through an accountant". I hired an accountant to show me how to do it myself for 500 pesos (it is done online and you would need to have a grasp of Spanish). I do the filing and paying of taxes on my small business myself.


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## scm7675 (Jun 19, 2015)

I see, thanks for the clarification and advice.


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## AlanMexicali (Jun 1, 2011)

circle110 said:


> A regular lawyer can't touch anything to do with real estate. A law degree in Mexico is little more than the equivalent of an associates degree in the US. Notarios have additional studies and an exam to pass - something a little more like the bar exam in the US.
> 
> .


A regular lawyer in Mexico has to complete 3 years of "prepa," then 5 years of university to get a "licenciatura" [professional degree], then an internship with a lawyer for a couple of years and 1 year of public service to get a "crédula" and pass a final exam, so it is a lot more than an equivalent to an associates degree in the US.


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## circle110 (Jul 20, 2009)

AlanMexicali said:


> A regular lawyer in Mexico has to complete 3 years of "prepa," then 5 years of university to get a "licenciatura" [professional degree], then an internship with a lawyer for a couple of years and 1 year of public service to get a "crédula" and pass a final exam, so it is a lot more than an equivalent to an associates degree in the US.


Hmm, I will have to let all my lawyer friends and family know that they apparently aren't actually lawyers since not a one of them has done all of this. They got their licenciatura in 3 years, not 5. I guess if you take a light course load you could stretch it out to 5, but most students I know operated in "estudiahambre" mode and chose to finish as quickly as they could. They did no "internships", although their jobs right out of school were usually not so well paid. 

Yes, the public service is usually required (6-24 months, depending) unless you are going to work for the government - then it is waived. Maybe you are confusing internship with social service?

Each state has it's own requirements -- or lack thereof -- so one can't say what the requirements are across the board. In general there is a sad lack of oversight and regulation of lawyers that most skilled attorneys regret and would like to change, but for now it is very much a buyer beware environment. 

Maybe I like exaggerate to over-scare people with my comments about "associate degree" but the fact is that there are an awful lot of under qualified lawyers operating in Mexico, simply because they can.
The regulation of Notarios is much more tightly controlled nationwide.

By the way it is "cédula" - no "r".


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## citlali (Mar 4, 2013)

The notarios represent the state not the clients so it can be a good idea to have your lawyer or accountant check out what the notario is doing. The job of notario is a charge you get from the state and is usually passed from within the same family. 

I just had an appointment with a notario about having an act drawn and I had to argue with him so that he would recognized I was a Mexican citizen. I was a French citizen when I bought a house and now that I was inquiring about selling it he wanted to slap me with a 35% tax because I was not a Mexican and I was a French citizen when I bought the house. I showed him my Mexican passport and INE card and reminded him I could not claim French citizenship while in Mexico and I was a Mexican citizen when I would sell the house , like it or not. I had to argue with him to get him to admit I was right so do not take everything a notario tells you for gospel.


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## AlanMexicali (Jun 1, 2011)

circle110 said:


> Hmm, I will have to let all my lawyer friends and family know that they apparently aren't actually lawyers since not a one of them has done all of this. They got their licenciatura in 3 years, not 5. I guess if you take a light course load you could stretch it out to 5, but most students I know operated in "estudiahambre" mode and chose to finish as quickly as they could. They did no "internships", although their jobs right out of school were usually not so well paid.
> 
> Yes, the public service is usually required (6-24 months, depending) unless you are going to work for the government - then it is waived. Maybe you are confusing internship with social service?
> 
> ...



http://admision.itesm.mx/led

According to this university website to get a degree [licenciado en derecho] it take 9 semesters or 4 1/2 years. I have never heard of lawyers getting one in 6 semesters but believe it is possible in some class of lawyer. My wife´s brother in law is a court defense lawyer and he took all the required steps and it took him a long time. Our Notario´s daughter is doing it now and will take just as long.


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