We need to be MORE like Mexico…no really.<\/p>\n
Those pesky laws in… in Mexico. <\/p>\n
For extended visas [ we don’t need no stinking visas!]
\ncalled FM 3, you may pay a monthly fee of $1,000
\ndollars to $1,800 and it is constantly going up.<\/p>\n
…and you must have documents to present as well
\nas proof of financial stability. We can’t just
\nhop the border without a birth certificate and ID
\nand expect to work in Mexico, buy property in
\nMexico and drive a car. Mexico has immigration laws and they abide by them.<\/p>\n
The country of Belize has even stricter
\nlaws. You must prove financial solvency before
\nyou can apply for Belize citizenship.<\/p>\n
None of these Central and South American
\ncountries will take the first Gringo who hops the borders.<\/p>\n
Owning Property<\/p>\n
A Fideicomiso (trust) is required to own property
\nnear the beach. Foreigners cannot hold property
\nnear the Mexican coast in their name. To handle
\nthis problem, the major banks provide a trust
\nservice for which the buyer pays an initial fee
\nof about US $2,000 to $4,000 and annual fees of
\n$150 to $500, depending on the price of the
\nproperty and upon the bank. These are very rough
\nestimates; the fees change all the time. The bank
\nthen holds the deed in trust for a specified
\ntime. This can be renewed or terminated for a fee.<\/p>\n
The banks examine the legal paperwork very
\ncarefully, hence the usual Acta de Posesi\u00f3n that
\nmost of the natives have (the unregistered
\ndocument issued by a local elected commission) is
\nnot acceptable to the bank. Nor is the somewhat
\nmore formal Escritura Privada where the property
\nhas at least been registered with a county judge.
\nOnly the Escritura Publica, a grand document
\nresearched and written by a Notaria Publica, is
\nacceptable. Only with the Escritura Publica are
\nyou sure that you have a free and clear title.
\nSince there are many stories of land being sold
\nmultiple times, in my opinion the Escritura
\nPublica, held by the bank in a Fideicomiso, is well worth the money.<\/p>\n