Mexican fideicomiso info
The Mexican Fideicomiso
The department of foreign affairs in Mexico City issues the Mexican Fideicomiso to a bank of your choice, allowing this bank to act as the purchaser of your property. Your bank will then in turn act as the “trustee” of the issued trust and you will be the named “Beneficiary” of the trust. This property will not become an asset of the bank, and the Fideicomiso only allows the bank to be a “trustee” of your trust. The bank will only take instructions from you the “beneficiary” and you have the sole rights to use, occupy and posses your property. This includes the rights to build and improve on your property as well.
With a Fideicomiso, the “Beneficiary” can ask the bank “trustee” to sell or transfer title to a qualified buyer at any time. Named inheritance is also permitted with a Fideicomiso.
The initial term of a Fideicomiso is 50 years with 50 year additional renewals indefinitely. This Fideicomiso is not to be confused with a land lease very common in other parts of the world; this property you purchase will be placed in trust with you named as the beneficiary of this trust.
On average a Fideicomiso takes approximately 60 days to complete with some taking as little as 2 or 3 weeks to complete. With costs to establish the Fideicomiso trust currently running around $2700.00 dollars, with yearly administrations fees of approximately $400.00 dollars.