If you own property or assets outside of Canada that are worth more than 100,000 CA, you probably have to file a foreign income verification statement. It is just information for Renew Canada.

If it is a revenue property you have to file a rental statement with your tax return and you will be taxed at whatever bracket you are in. You will also be able to
deduct any expense towards that income, same as in Canada.

Sending money to Mexico for a property purchase involves a few steps. Here are
your options:- *International Wire Transfer*: Use your Canadian bank to send
funds to the Mexican bank account of the seller or escrow service. Be prepared for potential fees and exchange rate variations.

- *Escrow Services*: Many Mexican banks and title companies offer escrow services, holding funds until the transaction is complete.

Ensure you comply with Canadian and Mexican regulations, including reporting requirements for large transactions. Consult with your bank, lawyer, or financial advisor to choose the best option.

Yes you can get a mortgage in Mexico as a foreign, check the information on our website.

In Mexico, the legal work for a property transaction is typically handled by:

*Notario Público (Notary Public)*: A licensed Mexican notary responsible for:
- Preparing and reviewing documents
- Ensuring compliance with Mexican law
- Witnessing signatures
- Registering the property transfer

*Abogado (Attorney/Lawyer)*: Often hired by the buyer to:
- Review contracts and documents
- Represent the buyer's interests
- Ensure a smooth transaction

*Title Company (Compañía de Títulos)*: May be involved in:
- Title searches
- Insurance (optional)

The buying process in Mexico typically takes 30-60 days (1-2months), but can
vary depending on several factors:
*Complexity of the transaction*: 30-60 days for straightforward purchases, longer
for more complex cases
*Financing and payment*: 30-60 days for cash purchases, longer if financing is
involved
*Notary and registration*: 30-60 days for document preparation and registration
*Survey and appraisal*: 7-30 days
*Title search and insurance*: 7-30 days

Factors influencing the timeline:

Seller's cooperation and responsiveness
Buyer's financing and documentation
Notary's workload and efficiency
Government processing times

Work with a reputable real estate agent, lawyer, and notary to ensure a smooth
transaction.

Canadians love Mexico, and there are plenty of amazing places to buy property!
Here are some top destinations:

Beach Lovers:
Mexico continental:
Playa del Carmen: Vibrant atmosphere, beautiful beaches, and a strong expat
community
Tulum: Bohemian vibe, stunning natural beauty, and eco-friendly developments
Cancún: Excellent infrastructure, amenities, and a lively Caribbean coastline
Puerto Vallarta: Historic charm, modern comforts, and a thriving real estate
market
Tulum: Bohemian vibe, stunning natural beauty, and eco-friendly developments
Cancún: Excellent infrastructure, amenities, and a lively Caribbean coastline
Puerto Vallarta: Historic charm, modern comforts, and a thriving real estate
market
Puerto Morelos: Quieter, community-focused lifestyle with beautiful beaches

Mexico baja California Sur:

San Jose del Cabo: charming town that blends colonial history with modern
luxury. Enjoy stunning ocean views, art galleries, and the famous Cabo
Vineyards. Relax on pristine beaches, explore the vibrant downtown area, and
experience the authentic Mexican culture.

Los Barriles: 45 minutes North from SanJose del Cabo airport, this peaceful
village turned into a relaxing haven. Surrounded by stunning natural beauty,
enjoy outdoor activities like pickleball, cycling, hiking, fishing, kayaking and kite
surfing. Relax on scenic beaches, and experience the warm community
atmosphere with wellness centers,pickleball clubs, professional health centers
and much more.

Cabo San Lucas: vibrant resort town famous for its luxury hotels, golf courses,
and lively nightlife. Enjoy world-class dining, shopping, and entertainment, as
well as outdoor activities like snorkeling, diving, and whale watching. Experience
stunning ocean views.

These areas offer a mix of culture, natural beauty, and modern amenities, making
them popular among Canadian buyers.