[BUYING AND SELLING REAL ESTATE IN MEXICO] 163
local requirements that each City or State may have in the correspondent local regulation: (i) In case of a Mexican Corporation, incorporation costs such as notary public fees and registration fees — regulated locally in each State — ;
therein, for example, amendments to by-laws, transformation, mergers, spin-offs, dissolution, liquidation and, optionally, the powers of attorney granted by the corporation 6 ; In case of a regular Mexican trust or a FIBRA, formalization a nd trustee’s annual fees; Annual property taxes, like real estate tax ( impuesto predial ); and Payment of services, such as water, electricity, and gas supply, among others.
(ii)
(ii)
In case of a regular Mexican trust or FIBRA, if needed, notary public fees and registration fees — regulated locally in each State — ;
(iii)
(iii)
Real estate appraisal;
(iv)
(iv)
Notice to SRE, if applicable;
(v)
Tax certificates, evidencing that no government fees or taxes are outstanding; or services
Disclaimer This note is for general guidance only. Specific legal advice should be obtained in all cases. “Martinez, Algaba, De Haro y Curiel, S.C.” and “Martínez Berlanga Abogados, S.C.” accept no liability for anything contained in this brochure or for any reader who relies on its content. Before concrete actions or decisions are taken by you or your business, you should seek specific legal advice. We remain at your disposal in relation to questions regarding this note and in relation to your business and look forward to assisting you. This paper was prepared by the law firms “Martínez, Algaba, de Haro y Curiel, S.C.” and “Martínez Berlanga Abogados, S.C.” Copyrights pending. September 2021 .
(vi) Taxes, whether local of federal, if applicable, such as income tax — for the seller — , acquisition of real estate tax, value added tax, etc.; and (vii) Notary fees and filing fees, such as, preemptive notices, certificate of encumbrances, registration of the change of title thereof, expedition of public deeds, etc. (b) Ongoing costs For guidance purposes only, these are typically the ongoing expenses that a real estate owner, direct or indirect, needs to take into consideration in Mexico, subject to different local requirements that each City or State may have in the correspondent local regulation: (i) In case of a Mexican Corporation, issuance of annual financial statements and filing fees before the Public Commercial Registry in case of Stakeholders Meetings minutes required to be recorded
6 Articles 19 and 21 of the Mexican Commercial Code ( Código de Comercio ).
ILN Real Estate Group – Buying and Selling Real Estate Series
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