If you’re curious about buying a home in Mexico, you’ve come to the right place. In this article, learn how to buy a home in Mexico from the best source in Mexico, Nick Fong. He’s the broker and founder of Ronival Real Estate, the fastest-growing and largest real estate firm in Baja California Sur. And, he loves to keep you informed by sharing his great advice and real estate tips.
First, uncover the immigration requirements for buying Mexican real estate with an easy-to-understand explanation. Then check out even more info about buying real estate in Mexico from Nick Fong himself. Therefore, continue reading to learn everything you need to know about buying a home in Mexico.
Mexican immigration process REVEALED
Prior to closing on the purchase of real estate in Mexico, it is necessary to present an immigration form to the notary. As Nick mentions in the video, many of Ronival Real Estate’s clients do not have their tourist visa on hand when they show up. As such, he informs them to get their tourist visa ahead of time so they’re well prepared.
Recently, the process for filling out that immigration form has changed. To explain, the latest immigration process is to fill it out online. This is not required for the average tourist coming into Mexico. But if you seek to purchase real estate in Mexico, be sure to go online to fill out the form and have it ready ahead of time.
Do you need the RFC in Mexico?
The constant question asked by clients of Ronival Real Estate is about the new requirements for having an RFC, or Federal Tax ID number in Mexico. First, an RFC number is a Mexican Federal Tax ID Number. Every Mexican citizen 18 years of age and older must attain this number and use it throughout their lifetime in Mexico.
To explain it, the RFC number is used by the Mexican federal government for a range of purposes. The primary purpose is to track income. On top of that, it detects any potential money laundering activities.
For foreigners, the RFC number has always been optional. That’s because, not all foreign residents have income in Mexico. But now, all foreigners who set up Federal accounts, like with the electric company, must provide an RFC number is they have one. If they don’t, they can use their tax ID number from their home country or their Social Security Number from the United States, as an example.
To begin, you need to apply for your RFC number in person. Easy enough, just visit an office of the federal tax agency SAT located within all major cities in Mexico. Start by setting your appointment at your nearest SAT office via the agency’s online portal. Note that this portal is in Spanish. As such, you need to translate it if you can’t read Spanish.
Baja California Sur real estate
Many Americans, Canadians, and people from other countries choose to make Los Cabos and other magical towns in Baja California Sur, Mexico, their home or vacation home. Discover how to purchase your dream home in Baja. Make an appointment with the top Real Estate Broker in Baja: Nick Fong, featured on HGTV’s Beachfront Bargain Hunt.
Since 2010, Ronival has been helping clients find the best homes in Cabo and throughout Baja California Sur. And, they’re highly-skilled negotiators that’ll get you the best price. Whether you plan to buy a property or quickly sell your Baja real estate, they’ve got you covered!
If you’d like to take a tour of a property in Cabo or anywhere else in Baja California Sur, just click CONTACT to inquire. Or, call directly at 619-831-2000. Ronival will be happy to answer your questions You can also schedule a time to show you around this breathtaking location.
Ronival on YouTube
See Nick Fong in action on his Ronival YouTube Channel. Find his videos on the Rovival VLOG, where you can read a short, yet in-depth post. Below is an example of one of Nick Fong’s Ronival videos:
Thank you for reading Get the facts about buying a home in Mexico. Be sure to read other posts about Cabo and Baja California Sur on the Ronival blog. There, learn about the many wonderful aspects of Baja California Sur, Mexico, from blog posts like this.