Etiqueta: Mexican law

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MEXICAN CORPORATIONS AND THEIR USE IN REAL ESTATE TRANSACTIONS

Monday, July 17, 2023

By Jessica Hernández

As explained in a previous article, different mechanisms can be used to acquire properties in México. One of them is the creation of a Mexican corporation, which is the matter of this article. 

A Mexican corporation: as of 1995, foreigners can own, operate and manage Mexican companies, however, some restrictions remain on the activities in which a Mexican company can participate when foreigners are involved, such as mining, airports, and telecommunications; however, the general rule is 100% participation. No investment restrictions exist on foreign-owned companies that purchase and develop the property. Mexican corporations require a minimum of two associates or shareholders. Both shareholders can be foreigners, and having a Mexican partner is unnecessary.  

There are several different types of Mexican corporations, however, the two most common are the S.A. de C.V. and the S. de R.L. de C.V. The S.A. de C.V. is a stock corporation, and S. de R.L. de C.V. resembles a limited liability company. Choosing the type of corporation to establish is essential for tax purposes in both the US and Mexico.

Once your Mexican company is formed, you can acquire property anywhere in Mexico, including the restricted zone. Property acquisition is also a “formal” procedure, and you must ensure that all the proper steps are accomplished to secure the title, that is why this process should be carried out with professionals in the area. 

If you are about to acquire a property in Mexican lands, visit us at https://silmexico.com/mexican-corporation-constitution/ to know more about this and other services SILMÉXICO offers and become a Mexican property owner.

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Se firma la escritura del LOCAL #1 en Paseo Santa Lucía

ESCRITURA PÚBLICA DEL INMUEBLE LOCAL #1 DE PASEO SANTA LUCÍA

El día 11 de julio del 2023 se llevó a cabo la firma de la escritura del LOCAL NÚMERO #1 (UNO) por la entidad financiera ACREIMEX ante el notario público número 100 (CIEN) del estado de Oaxaca, la cooperativa ACREIMEX adquirió este inmueble de 157 mt.2 dentro del nuevo centro comercial Paseo Santa Lucía.

ACREIMEX es una cooperativa de ahorro y crédito que brinda servicios financieros de calidad con sentido humano. Fomentan la cultura del ahorro y el uso responsable del crédito de sus asociados, enfocado a su desarrollo económico y social.

Iniciaron operaciones en la Villa de Etla, Oaxaca el 13 de junio del año 2001, con sólo 3 personas. Actualmente ACREIMEX es una institución autorizada por la Comisión Nacional Bancaria y de Valores, con una fuerza de servicio de más de 1,000 personas con 60 sucursales a lo largo de 9 estados de la República Mexicana.

El LOCAL #1, nueva sucursal de ACREIMEX se encuentra en la fachada principal del centro comercial frente a la carretera Internacional #802, con accesos por escaleras y elevador al inmueble.

Así como ACREIMEX se espera en los próximos días continuar escriturando los locales comprados por inversionistas y empresas.

La oportunidad de invertir en Paseo Santa Lucía es cada vez más atractiva para quienes buscan rentabilidades a corto plazo. Las propiedades son privadas y de carácter definitivo con toda la documentación legal para llevar a cabo la compraventa de un inmueble comercial.

¿Quieres invertir en Paseo Santa Lucía?

Contacta al equipo de ventas para obtener toda la asesoría profesional en todo momento y apoyarte en el proceso de compra y escrituración de tu local comercial.

Pregunta por los precios y disponibilidades de cada piso, quedan pocos locales comerciales disponibles en Paseo Santa Lucía.

¡Estás a tiempo para invertir!

info@silmexico.com

Tel. 951-127-13-80

Tel-55-78-63-68-90

www.paseosantalucia.com.mx

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5 CURIOUS REAL ESTATE FACTS

Wednesday, June 28th, 2023

By Jessica Hernández

The world of real estate can be a bit complex for those who are just starting out in it, despite the fact that there are many technicalities that must be understood, this industry is full of learning, here are some curiosities that will surprise you and that will be the topic on the table in your future talks.

1.- The tallest building in Latin America and in Mexico is the Obispado Tower.

The use project for the tower is mixed since its facilities include offices, which occupy 56 floors, a 7- story Hilton Garden hotel, a commercial area, a business center, and 172 apartments of up to 315 square meters. In addition, it has amenities for its inhabitants such as a swimming pool, green areas, children’s games, grills, a sky gym, a sky lounge, and a sky bar.

2.- The Ritz Carlton is the best real estate project in México.

This building stands out for its architectural design, its strategic location, and its contribution to the environment since it has the LEED Core & Shell certification. It was awarded in 2022 as the best real estate project in the country. The ceremony was carried out by the Real Estate Developers Association. 

The project represented a total investment of 2,087 million pesos and generated 7,720 direct and 53,206 indirect jobs. And it consists of 58 floors with 153 rooms, luxury suites, and private residences, which offer panoramic views of the Chapultepec Forest, the main lung of the metropolis.

3.- Ben Caballero is the best real estate agent in the world.

An agent from the USA was mentioned in the record Guinness Book as the best real estate agent in the world, since in 2016 Caballero handled more than 3,500 home sales transactions for construction companies, properties valued at more than $1,400 USD million. His company handles an average of nearly 10 homes sold a day.

4.- The most sustainable building in the world is in New York.

One Bryant Park is considered the most sustainable building in the world, it was completed in 2009 and in 2010 received LEED Platinum Certification becoming the first office tower to achieve that level of excellence. Among its characteristics we can find: 

  • It has carbon dioxide monitors
  • LED lighting
  • At night it produces ice in 44 tanks located in its basement, which is used during the day to cool the air in the building.
  • Collects all rainwater in containers with a capacity of 329,000 gallons.
  • Said water is used to irrigate plants and fill the toilet boxes.
  • Later, an internal gray water plant treats it to be used to cool the tower, subsequently releasing it into the environment in a gaseous state, thus completing a cycle that returns to nature.

5.- Cairn de Barnenez is the oldest building in the world.

It is the oldest building in the world since it dates back to 4850 BC. Located in France, the Cairn de Barnenez belongs to the municipality of Plouezoc’h. It is also the largest megalithic mausoleum in Europe.

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TEJATE: THE REFRESHING BEVERAGE OF THE GODS

Friday, June 23rd, 2023

By Jessica Hernández

Known as the drink of the gods, tejate is the traditional elixir of Oaxaca. It is made from corn, cocoa, mamey bone, and cocoa flower. It is characterized by a lumpy foam formed by the cocoa flower.

Tejate originates in pre-Hispanic times, in the region of the central valleys, it was drunk in planting and harvest ceremonies. Its name in the Zapotec language is cu’hub, however, it is currently known as tejate, a word that comes from Nahuatl and means floury water (“textli”/dough and “atl”/water).

Thanks to the hard work of the Oaxacan women, especially from the community of San Andrés Huayapam, this delicious drink was not lost, its recipe was preserved by oral inheritance during the different generations from its creation to the present. Currently, every year the traditional tejate fair is held in this community, where Oaxacan women dedicated to the elaboration of this drink are placed in their stalls with their clay jars where the tejate is ready to be tasted by the thousands of local and foreign people who come to this tradition.

If you are passing through the state, we recommend you try this refreshing drink that will transport you to ancient times, then you will understand why it is called the drink of the gods, its flavor and texture really make it worthy of the name.

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TIPS TO KEEP YOUR HOUSE COOL THIS SUMMER

Wednesday, June 21st, 2023

By Jessica Hernández

Today summer has begun, which is marked by the summer solstice in the northern hemisphere of the planet, while winter has begun in the southern hemisphere. 

In Mexico as well as in other countries in the northern strip, summer means a break from school activities and work, many people choose to relax in tourist destinations such as beaches, and some others stay at home, however, as we know we are experiencing high temperatures in most of the states of the country. If you are staying at home this summer break, we tell you in this article some tips to keep your home cool and enjoy these relaxation days.

1.- Say yes to plants

In addition to giving color and life to your house, these will make the environment fresh. Among them, we can find spider plant, peace Lily, rubber plants, elephant ear, snake plants, ferns, and pothos. Likewise, without watering the soil of these plants constantly so that they do not rot, you can spray them only on their leaves, so you will notice how your home refreshes immediately.

2.- Limit the sources of heat

Turn off electrical appliances that you are not using (remember not to leave them on standby either), as they are an unnecessary source of heat (as well as energy waste).

3.- Crossed ventilation

This involves wind entering through a vent (or a window or door), and allowing air to flow directly through the house and out through an opening on the other side of the home. Take advantage of the fresh air during the night, and, as far as possible, leave your windows and doors open, so all the spaces of your house that were sultry during the day are ventilated.

4.- Clear spaces of unnecessary objects

The more stuff you have in the room, the more likely it is for heat to build up. We recommend that you gradually get rid of unnecessary objects and less sentimental value that so often get hot and help perpetuate the stuffy environment.

Take advantage of a cooler summer afternoon to get them out of your room. You have three options: throw them away when they are old, reuse them to create different decorative pieces, or put them up for sale to earn some money.

5.- Opt for cool and thin fabrics

During this hot season change your sheets, covers and tablecloths for much thinner fabrics and light colors, cotton and linen will be your best allies.

Well, these are just some recommendations to have the best possible time this summer. Remember to stay hydrated and avoid going out when the sun is at its peak. Also, always use sunscreen. If you have pets, keep them hydrated and in a cool place under the shade, and if it is in your possibilities, remember to place a bowl with water for stray dogs. Small but significant actions will make a difference.

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WHAT TAXES MUST BE PAID IN A PROPERTY PURCHASE-SALE PROCESS?

Monday, June 19, 2023

By Jessica Hernández

We know that in a sale-purchase process, in addition to paying the total amount of the property, there are taxes and other aspects to consider within the budget to purchase the property.

In the following article, we will tell you what taxes each of the parties involved in the said transaction must pay.

According to the Tax Administration Service (SAT) portal, when income related to housing is obtained, either by selling or leasing real estate, Income Tax (ISR) must be paid. It is essential to clarify that this amount is not fixed, and its value will depend on a specific characteristic, which is the location of the property, in this sense, it is a notary who will determine the total amount of ISR to be paid by the seller.

However, the payments that the buying party must make are the Public Registry of Property, the Transfer of Domain, also known as the ISAI (Real Estate Acquisition Tax), as well as the cadastral service, and finally, the notary’s taxes, since its function is to identify the parties that are celebrating the operation, provide certainty about the characteristics and state of the property, as well as recognize the form of payment (transfer, cash, etc.), and give the notification corresponding to the SAT in case the property has a cost greater than MXN 1,075,000.00.

Acquiring or selling a property can be a simple operation for the parties involved as long as professionals carry out the process. Remember to go to SILMÉXICO to receive advice on your real estate transaction.

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THE ARCHITECTURE OF OAXACA: AN ARTISTIC TREASURE OF MÉXICO

Friday, June 16, 2023

By Jessica Hernández

The architectural legacy that the colonial era left in Mexico together with the traditions of the different states give a great identity to the entire Mexican territory. Oaxaca is precisely recognized for its buildings with unique facades, mixed between museums, churches, and old houses dating from the 1500s, together, these are part of a relic and architectural treasure that shows the ornamental richness of that time.

 

Not only in the city, which is considered a cultural heritage of humanity for all the tangible and intangible assets that it guards, there are also in other parts of the state buildings that are worth admiring for their colonial quarry design.

 

To talk about them we will start with the variety of religious temples:

 

In Oaxaca, as in most of the states of Mexico, there are numerous religious temples built during colonization, among them, we can find the temple of Santo Domingo and its ex-convent, the church of La Soledad, the temple of the Barrio de Jalatlaco, the church of San Felipe del Agua, Carmen Alto y Bajo, Church of the Ex Marquesado, and of course, the Cathedral located in the city’s main square, among many others. Most of these temples were built in the Baroque style, others in the Classical and Neoclassical styles. Currently, these temples are still in operation celebrating masses, their green and yellow quarry facades stand out with their internal decoration in the Baroque style.

In Oaxaca, as in most of the states of Mexico, there are numerous religious temples built during colonization, among them, we can find the temple of Santo Domingo and its ex-convent, the church of La Soledad, the temple of the Barrio de Jalatlaco, the church of San Felipe del Agua, Carmen Alto y Bajo, Church of the Ex Marquesado, and of course, the Cathedral located in the city’s main square, among many others. Most of these temples were built in the Baroque style, others in the Classical and Neoclassical styles. Currently, these temples are still in operation celebrating masses, their green and yellow quarry facades stand out with their internal decoration in the Baroque style.

Among other buildings of this style are the arches of the Xochimilco neighborhood, nestled in a narrow cobbled street, these functioned as an aqueduct that supplied water to the city. The Plaza de la Constitución, or as we mostly know it, the zócalo, in its colonial times only consisted of a marble fountain, which was replaced years later by the kiosk and has been modified over the years. The government palace is located in this same square, which held its first council session in 1576.

The city of Oaxaca and the state, in general, is home to many buildings that have their origins in colonial times, although some do not retain their original construction due to the earthquakes that have struck Oaxaca in different years, they have been rebuilt, seeking in each remodeling the take care of his style so that the state preserves its viceregal essence.

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DID YOU KNOW THAT INVESTING IN THE REAL ESTATE INDUSTRY IS ONE OF THE SAFEST TRANSACTIONS?

Wednesday, June 14, 2023

By Jessica Hernández

That’s right, the real estate business is considered the safest because it is one of the fastest-growing industries. Investing in real estate offers you a safe return on investment, you must be visionary and patient to understand that an investment today will give results tomorrow in the short and long term, for example, if you buy a property and market it as income, for short or long stays, you will immediately start generating profits and in a few years you will have recovered your investment, in addition to ensuring a heritage for your future. 

As the phrase says, the currency is devalued, the real estate is not. Unlike a car, which over time, no matter how equipped it is, its value will decrease, comparing it to a property; the more time passes, the more its value will increase, which is why it is not considered a risky investment, unlike other industries. In this sense, in the real estate sector, inflation is an element that plays in its favor.

Another of the benefits offered by this investment is buying both at auction and pre-sale prices. The properties at auction usually exist due to seizure processes, they remain as collateral in loans, since these are not settled, the bank proceeds to carry out the corresponding seizure and finally to auction off the property at 50% of its value. The important thing about buying pre-sale for pre-construction is that the prices are lower compared to the costs of already completed works.

As for Oaxaca, it is a state that is undergoing economic development, which is why the demand for housing has increased and will continue to do so considerably. With the upcoming opening of the new highway that connects the city with beach tourist destinations, the number of both national and foreign tourists will multiply, which also places the state in the eye of investors.

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CERTIFICATIONS FOR SUSTAINABLE BUILDINGS

Monday, June 12, 2023

By Jessica Hernández

In the article The Importance of sustainable development the term “sustainable development” was discussed and how it has been increasingly positioned in the real estate framework. As mentioned, currently more importance has been given to the conscious construction of buildings in terms of being respectful of the environment where said building is located. Due to the notable growth that has been observed in cities and the development that will come in the near future, certifications have been established whose purpose is to regulate the operation of new buildings, taking care that they contribute to the preservation of the environment and that spending of water and energy is moderate, as well as the adequate use of existing natural resources. 

 

Mexico ranks ninth in sustainable buildings worldwide, with a number of 305 certified buildings, which is little for the volume of buildings that exist throughout the country, which is why developers are now focused on building projects with non-invasive greens.

 

Below we present one of the main certifications that new developments, including some already existing ones, seek to guarantee their sustainability.

LEED CERTIFICATION

 

The acronym LEED (Leader in Energy Efficiency and Sustainable Design). It is a system implemented internationally and is based on market criteria to renovate and build high-efficiency sustainable buildings.

Within this certification different types depending on the type of building. Whether it is new construction, schools, shops, warehouses, hospitals, logistics centers, housing, or urban planning, among others.

 

Depending on the degree of sustainability and excellence of the building, 4 different levels of certification can be obtained, each with its own hallmark, according to the score obtained.  

How to obtain the certification? 

Step 1. Registration 

Register the project by completing forms for each type of certification and submitting payment of the registration fee, which is paid in advance at the time of registration. Ensure that the project meets all Minimum Requirements of the LEED program. Construction projects pursuing LEED certification must: 

  • Follow environmental laws.
  • Be a complete and permanent building.
  • Use a suitable plot or type of soil.
  • Meet the minimum floor area requirements.
  • Meet the minimum occupancy requirements.
  • Be willing to share building-wide energy and water usage data.
  • Fulfill with a minimum ratio of construction area/plot or land area. 

The https://www.leedonline.com/Index/index can be used to register. 

Step 2. Application 

Once the project has been registered, the required documentation must be collected and submitted for review. In this step, members of the project team will identify the desired LEED credits by gathering the necessary information, performing calculations and analysis, and preparing documentation demonstrating compliance or achievement of the selected credits and prerequisites.

Once the application documentation is prepared, the application must be rigorously secured and verified before it is submitted for review. The Certification Review has an associated fee that must be paid at the time of submitting the documentation. 

Step 3. Review 

Once the application has been submitted and the certification review fee has been paid, the LEED application is thoroughly reviewed by Green Business Certification Inc (GBCI). We will get the result of the preliminary review in about 20-25 business days. They will tell us which prerequisites and credits are granted and which are marked as pending, asking us for more information if this is the case.

If you are satisfied with the results of the preliminary review, you can accept it. Conversely, if you are not satisfied, new or revised documentation can be prepared. Also, add extra credits before submitting for final review.  

Once GBCI completes the final review of your application, it can be accepted or appealed by requesting an additional supplemental review (appeal).

Step 4. Certificate

The last step but the most important is obtaining the final report and certification that your development is green and sustainable. 

References: 

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MEMORABLE SPOTS FOR PICS IN THE HISTORIC CENTER OF OAXACA

Friday, June 9th, 2023 

By Jessica Hernández

We know that the entire state of Oaxaca has beautiful places worthy of being captured not only with our eyes and in our minds but also in photographs. On this occasion, we present 5 spots in the center of the city that we recommend so that during your stay here you can take unique photos to share them on your social networks and surprise your followers, in addition to capturing the memory of your trip to this enigmatic city.

1.- Jardín Etnobótanico 

Located on Reforma Street, just behind the Temple of Santo Domingo, this is a space dedicated to the protection and exhibition of hundreds of endemic plants of the state. It began in 1998 with the planting of these and it is planned that in a very soon finish planting perennial species. There are in this garden plants from different ecosystems of the regions of the state, we can find species from arid, humid climates, tropical zones, cold and temperate mountainous areas, etc.

In addition of being in charge of the exhibition of so many species of plants, the Ethnobotanical Garden has also the task of of carrying out research on the care and propagation of this flora in order to continue its preservation in the state and in the country. 

Do not miss the opportunity to go and take a picture in one of its spaces like this👇 .

Picture by https://jardinoaxaca.mx/

2.- Barrio de Jalatlaco 

This is one of the most beautiful places in the historic center, in its colonial-style streets you will find facades with colorful murals that reflect the traditions and culture of the state. This neighborhood dates back to the 16th century, and it is precisely the houses, businesses, and churche that are found there that make those who visit it fall in love with it, and that definitely motivates you to take pictures in each of its corners and facades. This neighborhood is known for being beautifully decorated on special dates such as the Day of the Dead, Christmas, and others.

3.- Andador Turístico 

A must-see is undoubtedly the city’s tourist walkway, Macedonio Alcalá Street connects the heart of the city, the zócalo, with the Santo Domingo temple, another site also famous for its impressive view. Along this walkway you will find local handicraft shops, coffee, and many more products, like most of the streets in the center, the walkway is captivated by its colonial-style architecture. In this place, you can always see “calendas” of the weddings and/or baptisms celebrated, as well as the invitations prior to the Guelaguetza festival.

4.- Teatro Macedonio Alcalá

This theater built in 1909 in art nouveau style is considered one of the most important in the country, and no wonder, since its impressive French-influenced modernist architectural style provides an elegant and imposing view. Thousands of artistic shows have been presented there over the years. During your stay, do not hesitate to go to a play or show that is presented there and of course take a picture inside this elegant enclousure or outside, in fronto of its masterful façade.

5.- Museo de Filatelia 

This museum dedicated to the exhibition and collection of stamps from different parts of the world is ideal for a good photo session, you will love its huge cacti located in one of its patios. Also, if you are looking for a nice place to take photos of your pets, the MUFI is perfect, since it has the characteristic of being pet friendly.

It is difficult to list only 5 places because we know that there are in the city many corners and beautiful facades waiting to be captured by a lens. Don’t forget to also walk the streets of García Vigil, 5 de Mayo, and of course the city’s zócalo and share your photos using the hashtag #silmexico