Ownership of Puerto Vallarta real estate through a Mexican corporation can be a potentially lucrative alternative. Only two or more share holders are needed to form a corporation, a Mexican corporation can now be wholly owned by foreigners. A Mexican citizen is no longer need to be valid. A Mexican corporation can own property without the need for a trust (Fideicomiso) eliminating their respective fees.
By establishing the property in a corporation, you can also legally rent out the property, which can generate an attractive income in a prime vacation destination such as Puerto Vallarta .
Mexican corporations are similar to those in the U.S. , requiring by-laws, articles of incorporation and the issuance of stock.
Creating a Mexican corporation for the purpose of purchasing Puerto Vallarta real estate simple, costs from $1,500 to $2,500 U.S. , depending on the complexity and number of shareholders and can be accomplished within 1 to 2 weeks.
A Mexican attorney should be consulted as to the pros and cons.