Can foreigners own property in Mexico?

In 1993, the Mexican government modified its laws about foreign investment. A new law was released which establishes that foreigners can be owners of a corporate or partnership up to a 100%. In 1993 the Mexican government released new laws for the foreign-owned investment. Foreigners can be owners of any property inland as long as it is not within 60 miles from the border or 30 miles from the coast; nevertheless a property that is in this "zone" can be bought through a bank trust (fideicomiso).

A "fideicomiso" is an agreement created for the foreigner's benefit; it is an agreement between the bank and the property's seller. The banks buys the property on behalf of the foreigner and follows the foreigner's instructions at every moment, this way the foreigner can enjoy all the benefits of a proprietor such as inhabit, enjoy, and even sell the property whenever he wants.

The "fideicomiso" lasts 50 years, and can be renewed for another 50 years. People often mistake a "fideicomiso" with a lease.

There are usually 3 or 4 parties involved in a real estate transaction in the restricted area:

• The Real Estate Office
• The buyer's lawyer
• The bank
• The Public Notary

If you are a foreigner and you want to invest in Real Estate in Mexico, follow the necessary steps so your investment is guaranteed. It is time to buy.

Disclosure: Every effort has been made to assure that all information contained in this article is useful and accurate. However if you need detailed information and are ready to buy, make sure to revise every aspect with local authorities.