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Retire in Style in Mazatlan

By: Patrick Hobson

alt Mazatlan has long been a favorite destination for American and Canadian citizens, but currently the “Pearl of the Pacific” is enjoying a period of unprecedented rebirth and revitalization. Statistics from 2004 to 2005 show visitation to Mazatlán surging – up 21.5 % supported by a 24% increase in airlift as several major carriers have added flights to meet the increased demand.

MEXICO’S POPULARITY

Mazatlán’s increased popularity is not truly surprising given that México, the country, was the #1 choice for U. S. citizens traveling internationally in 2006 with 14 million Americans visiting its warm, friendly southern neighbor. Similarly, Canadian travel to México was also up 13% in 2005 with its citizens making 794,000 trips. But, apparently vacations are not enough anymore for visitors from the U.S. and Canada.

Financing Foreign Property

Angela Jackson, Foreign Property Specialist
Verico Canada First Mortgage

What options are available for financing Foreign Property?

Obtain a Cross Border Loan from a Foreign Lender collateralized against Foreign Property
Leverage the equity from an existing Canadian Property to finance the investment.

Why choose Cross Border Loan?

The evolution of the mortgage industry in many foreign countries has broadened both the buyer pool and property types allowing investors to reposition their losses in the stock market to now include Foreign Real Estate.

Canadian Tax Obligations: Portugal and Spain

FOREIGN PROPERTIES AND THE CANADIAN RESIDENT

By Cam McIntosh C.A.,CFP

Canadian residents planning to buy their piece of the sun have certain Canadian tax obligations on their real estate very similar to the individual purchasing similar property here in Canada.

Our Tax Department, commonly known as CRA, and the Income Tax Act it administers has provisions in it that obligates the Canadian resident to report income on a worldwide basis. This is not any different than most countries in the world.

Legal Frequently Asked Questions When Purchasing Property in Mexico

by Carlos Zarate, Attorney At Law, Puerto Vallarta, Mexico

Investing in México

With the advent of the NAFTA trade agreement, changes in Mexican laws, and allowable tax deductions by the I.R.S., investing in Mexico for non-nationals has become a hot market, offering safety, opportunity and returns that are all but non-existent elsewhere. Thousands of Americans and Canadians are looking at Mexico as a place to invest in, and are doing so in record numbers. Most are buying real estate, with personal use and retirement planning as a main reason for doing so, and using the investment aspect as a reason to justify the purchase.

Legal Frequently Asked Questions

What is a FIDEICOMISO? (Mexican Bank Trust)

Pronounced “fee-day-co-miso.” This is a legal structure which allows non-Mexicans to purchase real estate property located in the “Restricted Zone”. This zone encompasses the areas along the coasts and borders of Mexico. Essentially, it is a recorded contractual arrangement where a property is held in “Trust” by a bank for a specific purchaser, or beneficiary. In all material respects it is similar to the type of Trusts commonly used in the United States and Canada to hold property for estate planning purposes.

Mexico's Continued Appeal

By Raul Jaime, General Manager
San Angel Closers – Land Investments - Mexico
www.sanangelclosers.com

While it is undeniable that the market for second homes has suffered everywhere, including Mexico, credit institutions and Real Estate Developers continue to see significant demand from Americans and Canadians that seek to purchase a second or retirement home in Mexico. The lower cost of living and relative affordability of property in Mexico continue to be the main factors that prompt Americans and Canadians to set their goals south of the border. Interest rates are still quite high if compared to those in Canada (about 9%), but year after year since the turn of the century, there has been a record growth in mortgage loans in Mexico both for national and foreign buyers.

Panama: Much More Than Palm Trees Swaying in the Tropical Breeze

By Rose Ryan: Tropical Properties SA
www.panamaandcostarica.com

alt Panama! Warm, tropical, palm trees silhouetted against the golden sky of a setting sun. Yes, it is all those romantic things and so much more! Panama, that thin strip of land joining the northern and southern halves of the Americas, running east to west provides a 50-mile wide divide between the world’s two largest oceans. Its narrow shape has provided much of its history as the Spanish used it as a land bridge to transport Inca treasure en route to Spain which attracted the pirates whose exploits made them household names and the rest is history, as they say. The French tried to build a canal and went broke.

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