Gardere’s Fernando Camarena Cardona, a partner with the firm’s tax practice group, spoke with Mansion Global on the tax considerations U.S. citizens must keep in mind before buying a home in Mexico.
“Property located in a restricted area, such as border areas or the coastline, must be acquired through a bank trust,” Camarena said. “The bank acts as trustee and holds titles to the property while the purchaser is the beneficiary of the trust.”
Camarena is a business and legal advisor on international and domestic tax issues in Mexico who provides tax counseling and assistance with litigation. He represents small companies to Fortune 500, FTSE 100 and other global and brand name corporations in the energy, manufacturing, nutritional supplement and insurance industries, as well as other sectors. Camarena is frequently sought after by clients for his broad understanding of tax laws and systems around the world.
The entire article is available in English here.