[ESTABLISHING A BUSINESS ENTITY IN MEXICO] 335
Mexican General Law for Negotiable Instruments and Credit Transactions ( Ley General de Títulos y Operaciones de Crédito ); (ii) the LMV; and (iii) the LISR. The Mexican Congress, in order to make more attractive the investment of capital in the real estate market in Mexico, included in the LISR special tax benefits for Real Estate Investment Trusts ( Fideicomiso de Inversión en Bienes Raíces ) (“ FIBRA ”). According to the LISR, in order for a trust to be considered a FIBRA and to have the tax benefits provided by the LISR, it needs to comply, among others, with the following requirements: i. to be executed pursuant to Mexican laws and with a Mexican trustee; ii. to have as its main purpose the acquisition or construction of real estate in Mexico that may be destined for lease, or the right to obtain income from the real estate;
v.
that the trustee of the FIBRA distributes to the holders of the relevant trust certificates issued through the public offer, at least once a year and no later than March 15th of each year, at least ninety- five percent (95%) of the total taxable income accrued during the immediately preceding fiscal year.
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 by “Martínez Berlanga Abogados, S.C.” Copyrights pending. Updated on August 2024.
iii.
that the real estate contracted or acquired by the FIBRA be destined to lease (or equivalent) and not be sold within a period of four (4) years following the date the construction of the real estate was completed or as of the date of the acquisition of the real estate, as applicable; that the trustee of the FIBRA issues trust certificates to represent the assets allocated in the FIBRA so that such certificates may be placed through a public offering in the Mexican Stock Exchange and registered before the RNV; and
iv.
ILN Corporate Group – Establishing a Business Entity Series
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