Buying real estate in Mexico for cryptocurrency and withdrawing money to a Mexican account. Ways and methods
Due to the increasing number of people increasingly trusting and preferring to store their savings in digital currencies, due to the difficulties in withdrawing their assets abroad, recently there have been very frequent requests from people with questions about the procedure of buying real estate, especially in Cancun and Tulum, for cryptocurrency.
Some realtors and agencies have already begun to promote their services for the sale of objects for bitcoin or etherium, as well as for steible koins, but upon closer acquaintance with the scheme it becomes clear that this is not a direct contract, but a complex intricacy between the client, the developer, funds and intermediary firms.
What is the actual situation with the real estate market in Mexico on the Riviera Maya for those wishing to buy a house or apartment for cryptocurrency.
Option one: buying through an investment fund in Dubai
Buying through a crypto fund in the Arab Emirates is done by transferring funds from your own crypto wallet to the wallet of the fund, then the received funds are converted into fiat (let's call it a freely convertible currency) money, a contract is signed between the real estate developer and the fund on the acquisition of real estate in the interests of the client, specifying your name or the names of those who will own the property together with the main buyer, the money from the account of the fund is credited to the account of the developer or the owner of the object, chosen by you or the owner of the property.
After all these manipulations, you take possession and get the selected property at your disposal.
Pros:
With cryptocurrency on the wallet, the transaction is very fast and safe;
Money enters Mexico from a "white" offshore zone, which raises a minimum of questions;.
The contract specifies all parties to the transaction and the property is registered in the name of the buyer or his trustees.
Minuses:
High cost of the transaction. If it is necessary to withdraw the country's currency, with all conversions to cryptocurrency, the cost can reach ten to fifteen percent, excluding conversion to the dollar;
There is no single "window" to work with and you will have to deal with a mass of people and intermediaries who will have to trust your money and at every stage there will be losses in the form of commissions and fees;
Not every developer or property owner will go to receive payment from third parties, so you will have to choose those who are ready to work on this scheme, and this is an additional cost.
Option two: buying through a company in El Salvador
After El Salvador adopted bitcoin as a full-fledged means of payment, this country is receiving increased attention from investors, holders of large portfolios, developers of new projects on the blockchain and people simply interested in this topic.
At the moment it is possible to open a company or investment fund in the country, which will have a quite official crypto account, on which it is quite officially possible to accept bitcoins, convert them into dollars, which are also the official currency of El Salvador since 2001.
As of today (02.05.2022), this scheme is still being refined and is not completely transparent.
Ideally, the company's account receives bitcoins, they are converted into dollars, and dollars under a scheme roughly similar to the "Dubai", transferred to Mexico to the account of the seller of real estate or other object, in the interests of the client.
But in reality, everything is still raw and works slowly, as not all laws are not all adopted, not all regulated by the government, and a small number of funds with experience in this market.
We keep our finger on the pulse, are constantly in touch with our partners in El Salvador and are trying different options all the time.
Pros:
Also, with cryptocurrency on the wallet, the transaction is very fast and safe;
Money enters Mexico from a friendly country, as Mexico is moving steadily towards full legalization of the crypto market;.
The contract also specifies all parties to the transaction and the property is registered in the name of the buyer or his authorized persons.
The cost of the entire transaction is much lower than through funds in Dubai
In the near future all the bills will be passed and it will be one of the most interesting and inexpensive options for investing in real estate not only in Mexico, but in any other country as well
Cons:
Of course conversion losses, the amount depends on what currency and what form your funds are in;
Also there is no single "window" for work, but fewer people are involved;
The procedure is not fully regulated by local legislation. Still in a state of tests and promises to be soon.
Payment is accepted only in bitcoin, and this currency has a high volatility, which can lead to both losses and profits.
Option three, the easiest option: buying with cash or an official loan
Suppose you have a certain amount of rubles, hryvnias, euros, dollars or other currency, which you would be happy to invest, but they are lying dead weight, for objective reasons.
In this case, we can arrange a meeting with our specialist, who will help organize the transfer of money to Mexico in a matter of hours, and the Mexican company, working in the real estate market since 2016, will purchase real estate in your name, in your own interests.
If the money is in an account, the process is roughly the same, but the money will go through the account of our partners in your or a friendly country. But either process is individualized and requires careful consideration.
Pros:
Completely clear and transparent procedure;
Small transaction losses. If the funds are in dollars, the cost will increase by no more than five percent;
Minuses:
Swift transfers can only be from certain banks;
Long process for depositing into a Mexican account;
Limitations on amounts within one hundred thousand dollars per transaction
Summary
Officially buy, or rather pay directly to the wallet or account to the developer, will not work, but we have simplified the procedure as much as possible and made it completely legal.
With any transaction without losses can not do without, the question is only how to minimize these losses and properly formalize everything.
Under our control the transaction is safe and its fulfillment is fully guaranteed by our own funds.
When making a loan, we sign a document on the loan and a document on its repayment on both sides, so after the transaction no one owes anyone, and the investor takes ownership of the object or receives the necessary amount in Mexico for operations at their own discretion.
When contacting us, we will advise on all questions regarding the purchase of real estate in Mexico, withdrawal of funds, documentary support and security of the transaction.
If you still have questions, write or call:
igor@caribbeanclub.pro
telegram: @realcaribbeanestate
+52 998 268 6594
