By now, you have probably heard about the changes to fiscal
law in Mexico that will have an effect on new Real Estate purchases.
As we aim to provide our clients with the highest level of
service, we have done the necessary due diligence to communicate to you the
most important aspects of this reform. I have summarized all of this
information in a â€œFAQ formâ€ below for your convenience.
What is this new law?
This reform is the second resolution of modifications to the
fiscal rules for 2014. In a nutshell, it means that your title (public deed or
trust) will not be the document that proves the purchase price you paid for the
property anymore. Now, your title will prove ownership but a separate document
(an official invoice) will prove the purchase price you paid for such property.
Who will give me the official invoice?
The notary will provide it to you. In order to do so, the
notary (through your closing firm) will need to obtain your CURP and RFC.
What is a â€œCURPâ€?
The acronym CURP stands for â€œClave Unica de Registro de Poblacionâ€. It
will be an identity number for you so that the Mexican government will be able
to identify you.
How do I get a CURP?
If you are a Mexican citizen, you can obtain one at the Civil
Registry by showing proof of identity and evidence of domicile.
If you are not a Mexican citizen, you will need to obtain a
Temporary Resident Visa to obtain a CURP.
How do I become a Temporary Resident of Mexico?
You will need to contact a Mexican Consulate in your country
of origin* to request the visa. Once obtained, such visa will be valid for 6
months during which you must enter Mexico to exchange that visa, within the
first 30 days of actually being in Mexico, for your temporary residency card.
This visa has a small fee that will be paid at the Consulate.
You will need to fill out an online form (http://sre.gob.mx, http://inami.gob.mx) and provide copies of your passport,
photos, and documents that prove you have sufficient means to travel to Mexico
and pay for related expenses (accomodation, meals, etc).
The visa should be issued
within 10 business days.
I have my visa and will travel to Mexico, whatÂ´s next?
When you arrive, contact us to exchange your visa for your
temporary resident card. We will fill an online form with you, provide copies
of your passport and visa, provide copies o f the form you will have obtained
at the airport, and pay the associated fees.
Your card will be ready within the next 10 to 15 business
How do I get an RFC?
You will be surprised at how easy it is do so. Once you have
your CURP you can even do it online! (https://rfc.siat.sat.gob.mx/PTSC/RFC/menu/) If you are here in Mexico, all it
takes is a 20 minute meeting. Be sure to bring your passport, temporary
resident card, and evidence of domicile. We will be glad to assist you in
This is not too bad but… do I have to get it?
No. This resolution is not
mandatory. You can choose not to change your immigration status. If you do so,
your purchase price will not be your basic cost towards future capital gains.
Contact us for legal strategies to reduce your capital gains tax if you sell!
IÂ´m ready to purchase. What timeline should we use for my
My suggestion would be to allow for 60-90 days to close. We
can work with your Real Estate Agent to draft your offer to allow for you to
complete this process
I bought a property and closed in May. Is there anything I
should do now?
No. A primary legal principle of Mexican law is that no law
can have an adverse retroactive effect on anyone.
IÂ´m selling my property. Do I need to get it?
Initially, no. However, come September you might need to once
the software the federal government created is fully released to notaries.
Also, keep in mind the criteria of most notaries in the Banderas Bay region is
to request it from both parties. If you are under contract, check with your
Real Estate Agent.
Contact us when you are ready to move forward and we will
accompany you through this process.
As with any new law, there
might be changes so stay in touch!
Lic. Cointa Raviela
AI – AsesorÃa Inmobiliaria
Condominios V399 Local C / Col. Emiliano Zapata / Puerto
52 322 22 23 208 (MX) /
F. 1-800-655-1903 (US)
firstname.lastname@example.org and email@example.com
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