COSTS FOR SECURING SALES
DISCLAIMER: The following are ESTIMATED costs for a specific simulated transaction ONLY and should NOT be considered as a quote or offering from HMH Legal for services to be performed. Costs vary in time and in each jurisdiction where the transaction is to take place. Therefore, HMH Legal will only provide a definite quote or offering after a specific request for proposal has been provided to our Firm, or after our services have been formally retained.
There are different ways of securing business transactions in Mexico. The security devices listed below are the most commonly used and accepted throughout Mexico, provided for under federal and state laws. Each of them presents unique characteristics and their own advantages, but all of them have the same common goal of helping creditors secure their credits. For more information on each of the security devices please refer to our FAQ’s section.
Approximate costs for a $250,000 US Dollar transaction
DESCRIPTIONS OF HEADINGS AND EXPLANATIONS
· Registry Fees. State government fees for filing contracts or public documents at the Public Registry of Property and Commerce. State and Federal Laws in Mexico provide a necessary filing requirement for some contracts to have binding effects between parties. Costs will vary in each jurisdiction.
· Notary Fees. Formal contracts require that the signatures of the parties to the contract are ratified before a Notary Public. This is a prerequisite also to any filing at the Public Registry. Costs will vary from one jurisdiction to another, and depending on whether we choose a Notary appointed by the State of by the Federal Government.
· Trustee Fees. Fees charged by the banking institutions in Mexico acting as trustees to the trust (fideicomiso). There is an initial set up fee for the trust, payable at the time of signing the contract, as well as annual fees to continue serving as trustees for the life of the trust.
· Attorney Fees. The cost of attorneys' fees will vary greatly depending on many factors, including the extent of services to be performed, the expertise and experience in the area of practice, the billing method of each Firm (billable, flat rate, etc.), etc. These fees should be quoted with a Law Firm and added to the total cost of the transaction.
Ave. Los Angeles 453,
Tijuana B.C., México 22106
Tel.: +52 (664) 685-1387
Fax: +52 (664) 685-9196