what is a fidiso now a fid commiso is the current legal structure in which foreign individuals and foreign corporations can acquire property in restricted area a fido is considered a bank trust now uh this is a very particular type of trust in which the bank will hold legal domain over the property and the beneficiaries will hold physical possession and full use uh over the rights of set now can I have beneficiaries how will the owner know the beneficiaries inherit the property when the owner dies yes yes you can have beneficiaries they're called beneficiaries in case
of death the fico visa structure allows you to have as many beneficiaries as you want in whatever percentages you you desire the advantage over this uh structure is that your beneficiaries in case of death will not have to go through any Mexican judicial process of recognition so no probate it's merely a bank recognition process they will only have to prove that you're no longer here by means of a death certificate if you happen to die in Mexican so in Mexican grounds Mexican territory um the the death certificate will be more than enough if you happen
to die in a foreign jurisdiction then you will most likely require that said death certificate is notorized in a hostel before it can be valid in our side of the border how is a notary in Mexico different from a notary in the US well there's quite a few differences in Mexico a notary public it's a high ranking official which is granted public faith so it's granted faith by the state in order to u help with protocolizations of real estate transactions and additional obligations notes in Mexico has to be licensed attorneys for at least five years
and they go through a rigorous um exam or test uh before they can be selected for uh these very prestigious positions now there's a lot of responsibilities that come with that uh position uh they also they're third party responsibles for the calculation retention of capital gain taxes um in real estate transactions they of course protocolize every single sale either residential or commercial and uh a US notary most often than not it's basically just paid to ratify signatures they will be there are significant differences between the two but I think that one would be the the
most significant
