At the Heart of the Riviera Maya 14 Luxury Residences Mexican

At the Heart of the Riviera Maya
14 Luxury Residences
Walking Distance from the White Sandy Beaches of the
Mexican Caribbean
Delivery Date for Phase 1 July 2016
The Grand Pelican Bay
Solamente 14 Unidades en Cuatro Niveles de 10 metros de frente Cada una Gym, Piscina Orgánica con Cascadas, Ágora para Eventos y Estacionamientos Privados
Fachada Frontal Hacia la Avenida 78 Nte.
Mar Caribe y Nueva Quinta Avenida a dos calles a la Derecha
Planta de Conjunto y Piscina Orgánica tipo Playa con Cascadas
Primer Nivel Estudios & Dos Recamaras
Elevador para 6 personas
Segundo Nivel Master Penthouse & Dos recamaras
Tercer Nivel
Cuatro Master Penthouses con Grandes terrazas en el Cuarto Nivel con Jaccuzzi Opcional
Lista de Precios Paquete Ambassador*
• Ground Level Units 2 & 2 Jardin & Garden
$155,000 dlls.
• First Level Studio / Estudio Primer Nivel $79,999
• First Level/ Primer Nivel 2 & 2 $135,000 dlls.
• Second Level Master PH/ Sold
• Second Level 2 & 2 / Segundo Nivel 2 rec. 2 Baños $145,000 dlls.
• Third Level / Tercer Nivel Penthouses 80m2 plus 20 m2 Solarium
Optional Jacuzzi & BBQ Grill $210,000 Dlls.
El Paquete Ambassador se ofrece con:
Cocina integral y Carpinterías en Baños Bajo Lavabos y Closets opcional al gusto del Cliente, La propiedad se entrega Cableada con 220 y preparada para recibir
Equipos de Aire Acondicionado opcionales al gusto del Cliente.
El Paquete de Adicionales que incluye Carpinterias y Equipos de Aire Acondicionado en los Estudios tiene un Costo adicional de $18,000 dlls. Y en los apartamentos
de Dos habitaciones el costo adicional será de $28,000 dlls.
The Pelican Bay Residences
Especificaciones de Construcción
Pisos Interceramic de Calidad Importación 40 x 40 Crema Marfil o Similar
Llaves y manerales Moen o Similar
Repellados en Mortero de alta calidad
Aluminios Duradonic color Bronce y Cristales entintados en color filtra sol Humo de 9mm
Juntas epóxicas de uso rudo de alta resistencia
Zoclos de 10 cm de piso Interceramic
GFI contactos en Baños y zonas Húmedas
3 metros de Entre Pisos en los tres primeros niveles y 4.50 en Bóvedas de ladrillo Rojo con Linternilla
Mesetas de concreto para cocina con Tarja doble TEKA de acero Inoxidable calibre 14
Pintura Calidad Berel de 5 años de garantía en exteriores e interiores de calidad NOM-9001
Impermeabilización en cimentación, áreas húmedas y techos con Sherwin Williams plastificado o similar calidad 7 años de Garantía
Puertas interiores calidad Home Depot con 4 Bisagras Hoteleras de alta calidad de acero Inoxidable
Puertas de accesos de Madera Solida Calidad Home Depot con Especificaciones para Huracan
Cortinas Anticiclonicas opcionales
How To Buy Property in Mexico
The quest for par at the perfect beach has led to the development of oceanside golf resorts around the world. For years, however, Mexico’s 6,000
miles of spectacular coastlines were overlooked because of Mexico’s restrictive property ownership laws.
Thanks to recent shifts in Mexico’s foreign development policies and concerted efforts to attract foreign development dollars, that situation clearly
has changed. For the fist time, non-Mexicans have real access to fairway homes con unspoiled beachfront property.
It’s easy to understand the lure of pristine beaches in such accessible sites. Now one question looms in the minds of many Americans. How do
I go about buying residential resort property in Mexico?”
The answer, though seemingly complex, is really fairly simple. Guillermo Ohem, Minister for Tourism Affairs, U.S. Embassy of Mexico,
Washington, D.C., explains that you can acquire ownership rights to property in what is known as the “restricted zone” through a 50 years
renewable, transferable bank trust. The trust is a legal substitute for fee simple ownership, but in this case, the trustee is the legal holder of the
property.
“As a trustee”, says Ohem, “the Mexican bank acts on behalf of the foreign beneficiary in transactions involving the property held in trust. However
the beneficiary retains the use and control of the property held in trust, and, except for direct acquisitions, makes the investment decisions with
respect to the property”.
As beneficiary, you have the right to use, lease, improve or sell the property without restriction, to transfer your rights a third party, or the pass the
property on the named heirs. In essence, you have the same absolute rights to use and enjoy the property as if you owned it in fee.
HOW IT CAME ABOUT
Historically, the “trust solution” was a long time coming, The prohibition of foreign ownership of property in the “restricted zone” goes back to
1917. At that time, the Mexican Constitution prohibited foreigners from holding legal title or exercising direct property rights in an area located
within 60 miles of Mexico’s borders and 30 miles of its coastlines.
Luis Hermosillo owner of Real Estate Services International in Montebello, California, and RESERI, its Mexican counterpart, explains that while
foreigners were not allowed to legally purchase property in the restricted zone, it was frequently done through the use of a “straw man”. That
illegal system had may failings. Foreigners who paid for property had no protection if the “straw man” decided to keep it.
“A wave of international problems built up” Hermosillo recalls, “and in 1971, the Mexican government felt it was best to protect the interests of
foreign owners by developing the trust system. Under that system, title to property is never conveyed. Bare legal title is held in trust by Mexican
bank, but the bank can never sell or change the property in any way unless it is approved by the beneficiary of the trust.”
Originally, trusts were established for 10 years. The Foreign Investment Law of 1971, codified in 1973, made it possible for foreigners to obtain
trust interests in land for up to 30 years. In 1989, the restrictions were eased further. Regulation were passed to promote “Mexican Investment
and Regulate Foreign Investment”. Those regulations enabled foreign owners to apply for successive 30 -year trusts. In effect, that meant a trust
could run in perpetuity.
As 1993 drew to a close, explains Los Angeles attorney David Ellsworth, senior partner and chairman of the Real Estate Section of the
law firm Morgan Lewis & Bockius, and legal counsel for FONATUR, Mexico’s National Trust Fund for the Development of Tourism, as well as
many Mexican and private sector developers active in Mexico, “substantially all of the 1989 regulations, with a few significant changes, were
codified into law and became effective January 1, 1994. The most significant change is that the term of the trust was increased from 30 to 50
years”.
HOW THE TRUST WORKS
The three parties involved in the trust are the seller of the property (the trustor), the buyer (the beneficiary or Fideicomisario), and the Mexican
bank of your choice (the Trustee of Fiduciario). Some of the banks operate in partnership with banks in the U.S. and Canada, and all are secured
by the Central Bank of Mexico.
Establishing the trust is easy, according to Ohem. “A foreign person or company interested in purchasing real estate in the restricted area selects
a Mexican bank to act as trustee with respect to the property. The investor then furnishes certain basic information to the trustee, which in turn
applies to Mexico’s Secretariat of Foreign Affairs for a permit authorizing the trust. Once the permit has been obtained,” he continues, “the trustee
and other parties involved contact a notary public to draw up a deed for the property. That trustee registers the trust with the National Registry
for Foreign Investment”. Then, you can begin enjoying your property.
There’s no need to fear hidden charges. Your closing costs, for example, typically average between 3& to 5% of the purchase price. Those
charges are determined by the declared property value, which is usually the same as the sales price. That value then becomes the basis for all
related taxes and fees. Generally, the seller pays for teal estate fees; the buyer is responsible for transfer tax and the cost of establishing the
bank trust (if it isn’t already in existence), notary fees, tax appraisal fees and trust permits fees. To ensure your loan is closed in a timely fashion,
trust permits are granted by Mexico’s Secretariat of Foreign Affairs within 45 days of the date the application was presented.
If , at later date, you decide to sell the property, anyone can buy it. If the new buyer is also a foreigner, you simply assign your beneficial interest.
The foreign buyer, upon application, automatically receives his own renewable 50 year permit. If, on the other hand, you sell to a Mexican National,
the bank can endorse the fee title in favor of the buyer.
As a prudent investor, you’ve no doubt considered taxes. Mexico’s annual property taxes are approximately .8% of the assessed value for tax
purposes, and just recently, Hermosillo notes, transfer taxes fell to 2% from a one-time high of 10%.
The United States and Mexico, Ellsworth explains, have a tax treaty which subjects American buyers to all applicable Mexican laws and taxes as
well as to U.S. taxes. As a general rule, he says, you will be granted credit by the U.S. government for taxes paid in Mexico. But for detailed
answers to specific tax and legal questions, it is always best to consult your attorney and/or tax specialist.
GOLF COURSE DEVELOPMENTS ALREADY UNDER WAY.
Announcements by American firms such as Sunrise Company to build country club communities in Mexico coincide with the recent legislation.
Sunrise Company is well known throughout Southern California for building more than 10,000 homes in seven country clubs. Now says Sunrise
Company President Jack Conlon.
Sunrise is developing two country club communities in Mexico.
“One of the primary reasons we’re venturing into Mexico”, Colon explains, “is that it’s now become feasible for Americans to own coastal residential
property there because of the new laws enacted by the government. These laws give non-Mexican their first real access to pristine beachfront
property”.
With the North American Free Trade Agreement (NAFTA) in place, experts predict an even more attractive investment climate in Mexico. Resort
areas are expected to develop at a rapid pace. For individual property owners, the sun is just rising on oceanside property located south of the
border.
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www.Gl.Smartbaja.com
Master Broker
Raul Teyssier
6th Street North & 45th Avenue Playa Del Carmen Q.roo
Cel 011-52-1- 624 175 38 50
[email protected]
Offices:011-52-1-984-873-30-38
[email protected]
The Riviera Maya
The Last Paradise on the Face of the Earth
M E X I C O
Actual Picture of Beach at 88 street in Playa del Carmen 300 meters from The Pelican Bay Residences
Foto Real de la Playa que se encuentra a 300 metros de la Puerta Principal de Pelican Bay Condos
Oporto Esmeralda
Coming Soon
January 2016
Gulfshore Landmark Building Dreams Since 1995
Diseñadores, Constructores y Comercializadores desde 1986