PRIVACY NOTICE SUMMARY
(Clients, Suppliers, and Service Providers)
Cabo Closing Services (“CCS”) acts as the party responsible for the processing of your personal data and acknowledges, in accordance with the provisions of the Federal Law on Protection of Personal Data Held by Private Parties and its Regulations, compliance with all requirements established by the National Institute for Transparency, Access to Information and Personal Data Protection (INAI).
By providing your personal data, you acknowledge and agree that such data will be properly used and safeguarded in connection with the services we provide.
The personal data collected by CCS is used for the following purposes:
To identify clients, suppliers, and service providers
To evaluate and analyze potential suppliers or service providers
To provide better service and client support
To maintain internal records and files for future reference
To comply with legal, tax, and commercial obligations
To ensure effective communication between the parties
To grant recognitions or incentives where applicable
To respond to inquiries, questions, clarifications, or complaints
You or your duly authorized legal representative may exercise your data protection rights by submitting a written and signed request via email to [email protected] or by delivering it directly at our offices.
The full version of our Privacy Notice, as well as the procedures for exercising your data subject rights, may be consulted at our offices located at:
Miguel Angel Herrera, Libertad, Cabo San Lucas, B.C.S. and / or Paseo de San José #946, Col. Campo de Golf Fonatur, Los Cabos, Baja California Sur, Mexico
Alternatively, it may be requested via email at: [email protected], provided there is a contractual relationship between the parties.
Any unresolved questions regarding these procedures may be addressed to the National Institute for Transparency, Access to Information and Personal Data Protection (INAI) at www.inai.org.mx, in exercise of your rights.
We reserve the right to update or modify this Privacy Notice at any time. Any changes will be communicated through our website: www.caboclosingservices.com, as well as through a visible notice at our offices.
Frequently Asked Questions
What is a Fideicomiso (Mexican Real Estate Trust)
What Is a Fideicomiso? A fideicomiso is a bank trust that allows foreigners to legally own property in Mexico’s restricted zone (within 50 km of the coast or 100 km of the border). The bank holds the title as trustee, but you retain full ownership rights, allowing you to sell, rent, or pass the property to heirs. The trust lasts 50 years and is renewable indefinitely.
Why Is It Secure?
Government-Regulated – Banks follow strict financial and legal oversight.
Full Ownership Control – It’s not a lease; you have full property rights.
Flexibility – You can sell or transfer ownership anytime.
A fideicomiso is a safe, established method for foreigners to invest in Mexican real estate with confidence.
How is property titled in Mexico?
Similar to the U.S., you can title property in Mexico through:
• Individual name(s) (joint tenancy or tenants-in-common)
• Family or individual trust
• LLC or other corporation/partnership.
Consult your U.S. legal or accounting advisors to choose the best option, as tax and legal implications for foreigners remain consistent regardless of title structure.
How do I create a Fideicomiso?
The process is straightforward and includes:
• Drafting the Trust: Legal professionals collaborate with a notary to draft the trust agreement.
• Coordination: Our team handles communication with the Trustee Bank and ensures compliance with Mexican regulations.
• Finalization: Once completed, you gain full rights to manage and enjoy your property.
Can I buy property in Mexico without being physically present?
Yes. You can complete the purchase remotely by granting a Power of Attorney to a trusted representative, who will handle the closing on your behalf.
How long does the closing process take?
Closings typically take about 45-60 days, though holidays, permits, or bank timelines may cause delays. Our team works to minimize disruptions and keeps all parties informed.
What should I expect in terms of costs?
Closing Costs in Mexico generally include:
Notary fees
Trust setup fees (if applicable)
Property transfer taxes
Escrow fees
Appraisal costs
Legal fees
Capital gains tax (for sellers)
These costs vary depending on the property’s value and location. It’s important to factor in these expenses to ensure a smooth and transparent transaction.
How much tax do I pay when selling property in Mexico?
Q: How is capital gains tax calculated?
It’s based on the difference between what you paid and what you sell for, but the final amount can vary a lot depending on how the transaction is structured.
Q: Can I reduce the tax I have to pay?
Yes. Expenses like closing costs, commissions, and even property improvements can help lower your taxable gain, but only if they are properly documented.
Q: Do foreigners pay taxes when selling in Mexico?
Yes, but the way the tax is calculated can change significantly depending on your situation. In some cases, you could pay more than necessary if it’s not handled correctly.
Q: How do I make sure I don’t overpay?
The key is proper planning and documentation. Having the right legal and tax guidance can make a major difference in the final amount you pay.
What is an Apostille?
An apostille is an official certification that validates a document issued in one country so it can be legally recognized in another. It is commonly required for documents such as birth certificates, powers of attorney, and corporate records to be used internationally.
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CONTACT US
+52 624 264 1421
Miguel Angel Herrera, Libertad, Cabo San Lucas, B.C.S.
Campo de Golf Fonatur, 23405 San José del Cabo, B.C.S.
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