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IN THAT CASE, WHAT ARE THE COSTS OF OPENING A TRUST IN ORDER TO BUY A CONDO, AND WHAT TAX ONE SHALL PAY IN THIS CASE? ARE THERE ANY OTHER EXPENSES?

April 26, 2017buy Case condo costs opening pay shall tax Trust

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IN THAT CASE, WHAT ARE THE COSTS OF OPENING A TRUST IN ORDER TO BUY A CONDO, AND WHAT TAX ONE SHALL PAY IN THIS CASE? ARE THERE ANY OTHER EXPENSES?

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Opening cost for a banktrust (fideicomiso) depend on the purchase value of the property, if it is commercial or residential, the bank itself (different bank, different fees). Average cost per condo, approx. $3,000 usd – $7,000 usd. The annual trust maintenance fee approx. $500 usd. Set up expenses for a trust are usually much higher than for a corporation, and each property requires an individual trust (land being limited to a max. Of 2,000 m2), but a company can hold an unlimited number of properties of any shape and size in its name. Notary fees for title research and assurance and closing cost average no more than 3% of transaction value. Individual cost for lawyers are not included.