Do I have to pay taxes if I bring over $10,000 US dls to Mexico?

Question

I will buy a property in Mexico for $25,000 US dls and will bring this amount in cash to pay for the property. Do you know if I have to pay taxes or fees to customs for bringing this cash?

Answer 1

I am not sure where you are buying, so I can’t be specific, but if you are buying in a larger town, there should be a commercial money exchange (INTERCAM Casa De Cambio S.A. De C.V. is one I know very well) who can receive a wire transfer from your US or Canadian bank. It can be in YOUR name, or the name of the seller. Much safer and easier than actually carrying that amount in cash. If you bring more than $10,000 US you MUST declare it or you could loose it. Don’t bring cash. That is suicidal.

Answer 2

Yes you have to declare them and most probably pay a tax what you can do is to come with your mates and give some money to them just to cross the border, less than $10000, so you don't need to declare it, once in Mexico they can give you the money back and that's it.

Answer 3

No, but you have to reporting to the Custom services in USA.

Answer 4

If you don't know more than that ... I suggest you don't.  Open a Mexican bank account and transfer the funds and then make the transaction in the office of a notary.

No you don't pay anything but are supposed to declare it on your Visa

Answer 5

Not really sure, but i do know it is illegal not to declare it.

Answer 6

Don´t listen to the f..... ignorant that says 10,000 dollars are 100 million pesos. 10,000 dollars are 100,000 pesos. And anyway, you can buy the same, not more, not less.

Answer 7

You won't have to declare if you get a bank account and transfer the money best and safest option. HSBC has banks in U.S and Mexico.  Also you could get 10 $1,000 international money orders from a U.S. bank for about $3 each. I know National City bank have these and others banks should.

Answer 8

You have to declare it, if you have already been taxed on the money (i.e. payroll taxes) you cannot be re taxed on money.  You do need to declare it when going  over border, and you should not bring that much cash into Mexico. Transactions on property should NEVER be conducted by cash.

Be careful in Mexico there have been a rash of Americans kidnapped in Mexico in recent years. Especially when money is involved.

Answer 9

no you dont that would be enough in mexico dats 100,000,000