FAQs from Ballote and Associates

If you acquire by means of a trust, yes. If you decide to incorporate, No. Unlike many places where you are required to build within a certain period of time, in Mexico, you may hold your undeveloped land for generations if you wish.

2. What documents should I receive from a builder?

They should have a written contract with specifications of the quality of the building materials and type of construction, as well as the time frame for the work.

3. Should an owner collect receipts on every wire transfer to a builder?

It is highly advisable to have someone supervising the progress of any construction work and release funds in payment accordingly. Ballote and Associates can provide such a service if requested.

4. What documents do I need to write off my construction costs when it comes time to sell?

You need facturas (official receipts) for materials, work, and government fees. You contractor should provide these on request. The documents must be issued in the name of your corporation, and contain its legal address and tax ID number.

5. Is the owner responsible for Social Security taxes?

The price of the construction, as stated in the contract, should include the price for the Social Security.

We speak your language!