New Life in Mexico

A Fabulous New Life in Mexico

A new job opportunity or a major life change can open up a high chance of experiencing a fabulous new life in Mexico. But uncertainties and challenges may show themselves along the way and the process of moving to a new country can take some time. As you overcome these obstacles, you will gain the rewards of the transition and more benefits will arise. Gain more positive results by considering the following attitudes and behaviors to make your new life in Mexico not only comfortable but fabulous.

Open-minded and Patient

Like any life-changing moves, resettling into a new country like Mexico requires an open mind, at least while you are getting to grips with the culture. Never give in to comparison or resentment once difficulties arise. While you are getting into your new life in Mexico, accept things as they happen. These challenges only happen for the time being. Being patient will keep you through things instead of getting easily angered or irritated. A soft approach, especially when you are a foreigner, usually will give you better results.

Eager to Learn

The Spanish language is one of the easiest languages to learn. You can have more confidence and better chances of increasing your transitioning phase in your new life in Mexico if you learn even the basic of the language. Communicating with people around you will also improve your networking group. You can use many online and app options to learn the language or you can take affordable Spanish lessons through classes or groups.

Flexibility

Having a plan is a great anchor to keep you through the storms of starting a new life in Mexico or in any country. A flexible plan should not take over your whole life but should serve as a guide and a progress tracker. Your goals will give you the right perspectives when times get tough or there are moments you are not sure what to do. Allow your plan to include other opportunities such as other matters that may fall into your task of getting to know the country, customs, and the requirements of your new job. Plan to have your plan ready for revision and a continuous work in progress. Plan to make your plan flexible and open to changes.

Friendly

Making new friends at work in your new job, joining a gym, or meeting people at your kids’ school are great ways to start your networking. Socializing will be one of your first tasks when you arrive in Mexico. Facebook and other social media can also help you connect with new people and with fellow expats. Here, you can share your stories or pieces of advice for your fabulous new life in Mexico.

Financially Prepared

Even if you are moving to Mexico for a new job opportunity or with a retirement fund, having extra money to tide you over is important. It will always be more expensive arriving and settling into a new location than what you have first envisioned. You will, at first, spend time and money finding your ideal car workshop, right plumber, and rental agents. Socializing will also eat some of your budget as you start forming your new base of friends. When things don’t go as planned, being financially prepared will help you remain calm and confident. An emergency fund will help take these fears away.

Please share with us your tips or any advice about making a fabulous new life Mexico.

New Life in Mexico

Crafting a Great New Life in Mexico

When looking for better job opportunities or a major life change, you will have to consider several things. The experience can be very daunting and adjusting to several aspects of your new life can be stressful and time-consuming. You also have to consider how well you can cope with uncertainty. Crafting a new life in Mexico will be more fruitful when you use the right methods during the transition time. Make the change more comfortable with these simple and reliable tips:

Have a Flexible Plan

Starting a new life in Mexico or in any other country depends on the planning and preparation. A plan serves as your guide and keeps you focused when things get rough or rocky. It will help you track your development towards your goals. When you have a plan, see to it that you are open to other opportunities and do not be too rigid with your plan. Each endeavor must start with a plan, but even the plan has to keep evolving as you become more familiar with the country, the lifestyle, and the requirements of your new job. Plans should always be a work in progress and accept that making changes to your plan is part of the plan.

Socialize regularly

Upon arriving, honing your social skills through networking is another important task. Start making new friends in your new job, join a gym, meet people at your kids’ school, join a club, etc. Social media like Facebook groups can also help you get connected with other expats to share experiences and knowledge about your new life in Mexico.

Set Aside Money

Getting settled into a new location means more expenses than you have first envisioned. Setting aside enough money to get you through is essential even when you are moving to Mexico for a new job position or with a retirement fund. You will have to spend money and effort finding the ideal plumber, car workshop, rental agent, etc. Acquiring new friends through socializing will also require some budget. When things get out of hand, your emergency fund will help take away those fears and keep you calm.

Be Patient and Understanding (with yourself and others)

While you are getting to grips with the culture your new life in Mexico will require you to have an open mind. At least for the time being, learn to accept things as they run. Never compare your present home with the former country you left behind. Being patient is the number one rule. Getting impatient and angry will not help. A soft approach often gets better results, especially for you as a foreigner.

Learn a New Language

Not only will learning a new language open up new opportunities to expand your networking group immensely, it will also help you improve your chances of being successful in your new life in Mexico. Learning Spanish should not a burden since it is one of the easiest languages to learn. You also don’t need to become fluent to make a difference. Better communication is a result of even learning just the basic. There are many groups and affordable classes where you can take Spanish lessons along with several online and app options.

Do you have any other great pieces of advice to share on how to craft a great new life in Mexico? Please share your tips.

You Need to Buy Mexican Real Estate

Four Parties You Need to Buy Mexican Real Estate

Are you planning to buy Mexican real estate? If your preferred land is within the restricted zone (within 50 km of the coastline and borders), it is important to know that there are 4 important parties involved in your transactions. Each of these parties will provide assistance according to their expertise. With their help, the process of follow to buy Mexican real estate is easy.

  • Notary Public
  • Buyer’s Attorney
  • Bank (Fideicomiso)
  • Real Estate Company

Notary Public

You need an official and unbiased representative of the government of Mexico whenever you transact in real estate business. You cannot buy Mexican real estate without the services of a notary. A Mexican Notary (Notario Publico) is a licensed attorney duly certified by the state and Federal government. A notary in Mexico acts the same as those in Canada and has greater responsibilities than notaries in the US. A Mexican Notary has gained the position as a government official after passing stringent exams given by the Mexican government. All records they provide must be original and must be recorded in the Public Registry of Property. A Notary can be held liable in both civil and criminal terms, that is why a notary’s role in Mexico is very serious. Aside from these expectations, a notary is also tasked to authenticate legal documents, calculate capital gains tax, and ratify all real estate transactions in Mexico. A real estate transaction which is not ratified before a notary and rightfully recorded in the Public Registry is considered invalid and non-enforceable. In any real estate transaction, the notary is highly responsible both to the buyer and the seller, as well as to the Mexican government.

Mexican Real Estate Buyer’s Attorney

It is not compulsory to have a buyer’s attorney when you buy Mexican real estate, but it is recommended. It is also important to get a Mexican attorney instead of a foreign one since foreign attorneys are not licensed to practice law in Mexico. Getting the service of a licensed Mexican attorney will provide you with advice on the laws related to the real estate. The attorney will represent you and protect all your legal transactions. It will also be the attorney who will draw up contracts and review the terms and conditions of the sale. Aside from these, an attorney can help you save your money as they have lots of contacts including banks, notaries, and the Mexican politics.

Mexican Bank for your fideicomiso trust

Your authorized bank is your Trustee Bank which will act as Trustee (fideicomiso). The bank must be a Mexican registered financial institution. As a buyer, you must choose a qualified bank which will ensure a legal and appropriate transaction. The bank will provide a trust for the real estate which you own and control on your own. The bank trustee is not allowed to transfer ownership of the property, change the beneficiary rights, or do anything about the property without the owner’s written instructions. With the government protection against bankruptcy, the trust is guaranteed by the government indirectly.

Real Estate Company

When you choose to buy Mexican real estate, the procedures will be different from what you may be familiar with. It is important to have the right people for your business transactions. Having these people and a team of experienced, knowledgeable, and dedicated real estate agents will make your experience not only different, each step is ensured with guidance, and the outcome is a smart and secure buy.

Mexican Real Estate Q&A

Mexican Real Estate Q&A – Fideicomiso

Foreigners who are interested in purchasing Mexican real estate should continue to read below as the top questions and answers are provided about Mexican real estate and fideicomiso trusts.

What is a Fideicomiso?

A fideicomiso is a real estate trust that you can apply for at a Mexican bank of your choice when you purchase real estate in Mexico. The bank is the trustee to the fideicomiso, and you (or anyone you designate) are the beneficiaries of the trust. The beneficiaries have control over the real estate. The trust is not a lease, but it is equal to a Living Trust in the United States. You can sell it, mortgage it, use it, enjoy it, will it, and inherit it. The Mexican bank will represent you on your behalf, and be the administer

Do you need a Fideicomiso?

If you are a non-Mexican, you will need to use a fideicomiso to legally purchase any real estate in Mexico that lies in the ‘restricted zone’, which refers to any real estate that is within 31 miles (50 km) of all coastlines and 62 miles (100 km) from the borders of Mexico. Foreigners will not need a fideicomiso if they are purchasing real estate that is not located in the restricted zone, although many foreigners still choose to use the trust.

Does my property become an asset of the bank?

The bank has no rights to your property, the bank is merely a steward to your trust. Your property does not become an asset of the bank. No legal action against the bank or bankruptcy will affect your trust.

What is the Fideicomiso trust time period?

The fideicomiso trust time period is 50 years and at any time the trust can be renewed for a fee. The fideicomiso trust is always set for 50 year increments, which is also guaranteed for renewal.

What are the costs involved in getting a fideicomiso?

The current fideicomiso cost is $500.00 (USD).

Does the Mexican Government have the right to take my Property?

At no time can the Mexican Government take your property. Under the NAFTA – North American Free Trade Agreement states that Mexico cannot directly retrieve your property unless it was for a public purpose, such as building roads or highways, and then this can only be done through the correct legal action. The government will give you the fair market price for the trust along with any interest that may accrue.

Can I have a fideicomiso trust for any ejido land?

You cannot get a fideicomiso trust for any ‘ejido’ land as only Mexican nationals can own the ejido land legally. This type of land in Mexico is not considered real estate as it does not come without a title or deed.