FAQ:
Where are these developments located?
Why Mexico?
Why Riviera Nayarit?
How can I own real estate in Mexico?
Why trust ownership?
How does the trust work?
What rights does the beneficiary have to the property?
How long does the trust last?
How much are Trustee Fees?
How are these trusts established?
What about schools?
What about health care?
What real estate opportunities do you offer?
How much do your ocean view condos in Rivera Nayarit cost?
How much do your ocean front condos in Rivera Nayarit cost?
Where are these developments located?
Located just 25 minutes North of the world famous Puerto Vallarta in the quaint fishing village of La Cruz de Huanacaxtle in the Riviera Nayarit, Mexico.
( Return )- Climate
- Topography:
- Beaches- 6,000 Miles
- Mountains
- Deserts
- Proximity to US/CA
- Frequent Air Service
- Political Stability
- High Quality Medical Care
- Economic Stability
- Easy immigration process
- Culture
- People
- Language
- Cuisine
- US-Mexico Economic Partnership
- Low Cost of Living
- Low Cost of Real Estate
- Very Beautiful Country
- Connected to the main land
- Romantic Colonial City (Puerto Vallarta)
- Great Location (New world class marina)
- Hawaii-like Climate
- Miles of Sandy Beaches
- Proximity to US/CA
- Frequent Air Service
- High Quality Medical Care
- Abundance of US Goods
- Ecotourism
- Shielded by Mountains
- Great Selection of Restaurants
- Low Cost of Living
- Low Cost of Real Estate
- Quality Developers & Builders
- Abundance of Sport Facilities (golf, tennis, fishing, and more)
- Great Communications
- English Spoken
How can I own real estate in Mexico?
Since 1973, a constitutional amendment known as the Foreign Investment Law has allowed non-Mexicans to acquire coastal and border property through a "trust", called "Fideicomiso", established with a Mexican bank (Scotia Bank and HSBC also have branches in Puerto Vallarta). This trust assures the foreign buyer of all rights and privileges of ownership, and is needed to own properties which fall into the "restricted zone". Any property located within 50 km (32 miles) of any coastline or 100 km (64 miles) of either border is defined as the "restricted zone" by Article 27 of the 1917 Mexican Constitution. As of 1994, the Foreign Investment Law dictates that the trust be established for a term of 50 years, renewable at any time during its existence by simple application. This is common practice and has worked for decades.
( Return )The trust arrangement was established by the Mexican government as a way of protecting foreigners who own property in Mexico. By means of the trust there is an automatic authoritative review of the transaction to ensure it is legal and unencumbered. Prior to the trust agreement being signed by the purchaser, the bank must confirm the seller's information; i.e. proper ownership, insurance and any liens or indebtedness against the property, which provides protection to the foreign owner.
( Return )The bank, known as the "trustee" holds the Deed for the purchaser, known as the "beneficiary".
This property is not part of the bank's assets and cannot be subject to a lien or attached to bank obligations. While the bank is the technical owner of the property, they have a statutory obligation to follow the beneficiary's instructions concerning the property.
What rights does the beneficiary have to the property?
The beneficiary has all ownership rights to the property and may sell, lease, mortgage, pass to heirs or do any other legal act with the property. The beneficiary may transfer or assign his beneficial interest to any person and keep the profits from the sale of the property subject to applicable tax laws and expenses for the sale. Property held under a trust can be passed on to heirs and there is no inheritance tax. This is accomplished by naming them as substitute beneficiaries in the event of your death.
( Return )Trusts are granted and now extended in 50 year periods. The original periods were 30 years and if you purchase property currently held in a trust, a new 50 year period can be established or the existing trust can be assigned. Trusts are renewable at any time by simple application.
( Return )The costs to establish a fideicomiso trust vary from bank to bank. The typical range is approximately $1,000-$1,500 U.S. for trust set-up and about $300-$500 U.S. each year for management of the trust. These fees are paid directly to the bank that has your trust.
( Return )How are these trusts established?
The fideicomiso trusts are established by a Notary Public following the receipt of a permit by the Ministry of Foreign Affairs. There are a large number of foreign-owned properties in Mexico, especially Puerto Vallarta and standard forms are utilized by the local Notary Public.
( Return )The Puerto Vallarta area has internationally accredited private schools, from preschool to college. You can choose from American schools with a full English curriculum, to Spanish schools that offer half English, half Spanish curriculum. Prices range from approximately $200 a month to over $300 a month plus registration fees.
( Return )Many US and Canadian citizens have discovered substantial savings (even after the cost of the vacation) by having quality medical or dental work done in Mexico. You can find a wide variety of specialist physicians, dentists and oral surgeons that are some of the best in the world, many of which speak English. Medical and dental training and certification in Mexico is very similar to the Canada / US. Some insurance is accepted..
What real estate opportunities do you offer?
Grupo Real Del Mar is one of the largest developers in the Puerto Vallarta area. A nice selection of real estate is offered, from ocean view condos and town houses to luxury ocean front villas and private estates. Whether you are looking to purchase an oasis for your vacation or retirement, or multiple units for an investment in Mexico our experts can assist you with our premier developments. Contact us for more information.
How much do your ocean view condos in Rivera Nayarit cost? Prices range from $200,000 on up. Contact us for more information.
How much do your ocean front condos in Rivera Nayarit cost? Prices range from $350,000 on up for a luxury ocean front condo in Puerto Vallarta area. Contact us for more information.
“Learn why real estate in Mexico is a wise investment and why now is the time to buy our luxury condos and villas in the best part of the Puerto Vallarta area: Riviera Nayarit!”
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