I have purchased an investment real estate property in Puerto Vallarta, Mexico using my self-directed owned LLC. While there were no issues with the transaction, I may (TBD) run into problems with things like opening bank accounts for the LLC or connecting water and electricity at the property. US based LLCs are not allowed to interact with some entities (like banks and utilities).
TBD because this property will be placed into the Mexican bank trust/fideicomiso (it’s too close to the shore to be owned directly) which will take possession of the property and the LLC will own the rights to use it as it sees fit. The titled owner will be the bank.
I have a lawyer down there who has two powers of attorney: one to represent the LLC (essentially taking over as the manager - which is my role) and the other to represent me as a person. Since he is not my business partner, can he open and control the above mentioned accounts?
Are you aware of a financial service that could smoothly transact between the US LLC and Mexican entities? Wise cannot open Mexican accounts for my type of business. But I can send and receive wires from my LLC US bank if nothing else is out there. And I do have VISA/Debit card for that account.
PS. The simplest solution to all that would be handing the property over to a management company but I’m curious if I have other options. I do have Mexican permanent residency if that makes a difference.