[BUYING AND SELLING REAL ESTATE IN MEXICO] 191
(b) Ongoing costs For guidance purposes only, the following are the ongoing expenses that a real estate owner, directly or indirectly, typically 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 therein, for example, amendments to by-laws, transformation, mergers, spin-offs, dissolution, liquidation and, optionally, the powers of attorney granted by the corporation 7 ; (ii) In case of a regular Mexican trust, formalization and trustee’s annual fees; (iii) Annual property taxes, like real estate tax ( impuesto predial ); and (iv) Payment of services, such as water, electricity and gas supply, among others. 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.
7 Articles 19 and 21 subsection VII of the Mexican Commercial Code ( Código de Comercio ).
ILN Real Estate Group – Buying and Selling Real Estate Series
Made with FlippingBook Online newsletter