Yes!

There are, of course, legal steps to follow when it comes to buying property in Mexico as a foreigner, but with our help and guidance, we will keep the process simple and understandable.

Yes! For both nationals and foreigners, the legal framework protects us and guarantees our patrimony. However, it is of utmost importance to work with reliable intermediaries, such as notaries, lawyers and real estate advisors to achieve a safe transaction.

• The simple answer is yes. You generate money, you must pay taxes.
• If you are a Mexican resident (you need a valid permanent resident visa or a Mexican voting card and all accounts in your name as proof of address), you can exempt up to a certain limit the payment of ISR once every 3 years.

However, to determine the gain, costs and expenses are deducted from the amount for which the property was officially sold:

• The original cost of the land and the depreciation value of the construction, based on the number of years of ownership of the property and the adjustment for inflation according to consumer price indexes.
• Additions, alterations and improvements, but not maintenance done on the property (construction) adjusted as above.
• Commissions paid to the real estate agent and broker by the seller.
• Closing costs, including expenses and taxes paid by the seller. The Notary will withhold the calculated gain after deductions and give it to the tax authorities in Mexico. The seller must deduct this amount in his annual tax bill, which will be converted into an adjustable tax credit in the United States.

To make sure you are paying what you owe and not overpaying, we work with different tax attorneys who will help us make sure the whole process is legal and follows the correct steps.

If you have other questions about buying real estate in Mexico, please contact us for assistance. We understand that the process of buying property in Mexico as a foreigner can be confusing at times, but our team of experts is here to help you every step of the way.