What is a Fideicomiso/Trust?
The fideicomiso is a legal constrict similar to a trust to which which a person gives ownership of certain assets for it to administer. The fideicomiso, sometimes referred to as a bankers trust, is most commonly used to hold real estate in Mexico... The fideicomiso gives the beneficiary absolute control of the property.
How much does a Fideicomiso cost?
The downside of forming a Fideicomiso would be the price. The initial bank fees (that include the permit, one yearly fee in advanced and expenses) are between $2,000 and $2,500 USD, which you pay on top of all the closing costs (acquisition property tax, rights, certificates, notary and attorney fees, etc.)
What taxes do you pay in Mexico?
If the employee is considered a non-resident for Mexican tax purposes, the tax rate applicable to compensation will vary from 15% to 30%. The first MXN 125,900 of employment income received in a 12-month floating period will be tax exempt.
How do taxes work in Mexico?
Income tax in Mexico varies greatly. Like the U.S., your tax rate will depend on the amount of your earnings, deductions, and other factors. Mexico's individual income tax rates range from 1.92% to 35%. Non-residents (those in Mexico on a work visa/permit) pay 15% to 30%
Can a US or Canadian citizen have a bank account in Mexico?
Mexico - Money
To open a Mexican bank account you will need valid identification such as your passport or driving license and a proof of address. Dollar denominated accounts are only available for citizens of the US and Canada or for corporations.