I would like to transfer 35K in U.S. dollars to an account I open in a Mexican bank. The purpose of the transfer is to purchase land in Mexico. Would I have any problems?

[merm444]

Would I have any problems here in the States or abroad? Do I have to pay taxes in Mexico?

[Critter · Accepted solution]

Do what you like ... it is your money.  Check with Mexico and see if they have any rules. 

[TaxGuyBill]

Because you will have $10,000 in a non-US bank account, you will need to file the FBAR form.
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[fanfare]

If you're investing in Mexican land you'd better figure out the property taxation and improvement rules and regulations before proceeding.