January 1st kicked in 2015, with it many new regulations. A few of these relevant to the Real Estate Industry, others of a general interest and applications.
Calls to mobiles and landlines anywhere in the Mexico will be charged as local calls. The marking of the number does not change, the change is, that service providers will not charge long distance fees; take into account that this measured only applies to calls to national numbers and rates for overseas communications and quotas for national services 01 900 numbers remain.
THE ANALOG BLACKOUT.
Analog television has been discontinued in Mexico, calling it “The Analog Blackout”. The Blackout has reached the Federal District (Mexico DF) Guerrero, Mexico State, Tlaxcala, Hidalgo, Puebla and Morelos. The remaining Estates of Mexico are also included so special boxes are being given to people in order to be able to process the TV signal and watch the open channels.
FINES FOR POWER CUTS
CFE and private companies will be fined if they are responsible for massive blackouts.
PAYMENTS FOR SERVICES ON MONTHS WITHOUT INTEREST.
Between January 1 and March 31 the capital taxpayers may pay with points or months without interest on their credit cards for various services such as property taxes, possession rights or water bills.
FINES FOR NOT HAVING CAR INSURANCE
Fines will be applied to vehicles traveling on federal highways without, at least, liability insurance.
The minimum wage in zone A increases to $70.10 pesos per day to and Zone B $ 66.45 pesos per day.
Investment funds in Mexico no longer will run under the legal concept of “Investment Companies” but will become part of corporations and they now must comply with the regulations governing these types of businesses. Investment funds will have to be governed under conditions such as: comprehensive reform of statutes, independent board of directors and authorized by the National Banking and Securities Commission Compliance Officer.
DEBT COLLECTION COMPANIES.
Calls dispatches that do debt collection can only call febtors between 7AM and 10 PM on business days only; They will not be able to collect personal reference, except in the case of a liable third party including solidarity endorsement of debt. Debt collection companies hired by banks must be registered with the REDECO (Registro de Despachos de Cobranza).
MEXICO DF UNIT OF ACCOUNT
The new “Unit Of Account of the City of Mexico” will be replacing the minimum wage as an indicator of concepts and in 2015 will be of $69.95 pesos per day, from which the salaries of officials and the capital charges, fines are determined and services in the city will be based.
REAL ESTATE LAW FOR QUINTANA ROO.
The rules of operations for the Real Estate Law is set to kick in during the first months of 2015 for Riviera Maya and the State of Quintana Roo. All realtors are mandated to register and become liscenced to practice real estate.
NEW TIME ZONE FOR QUINTA ROO.
The Federal Government has approved the creation of a new Time Zone (huso horario) in Mexico, UTC-5 Winter Time Zone (Horario del Caribe / Caribbean Time). The New time zone starts February 1st and it is set to be one hour ahead of Mexico City Time Zone (UTC-6) in the winter time only, and the same time as Mexico City during Daylight Saving Times (Horario de Verano) in the summer.