Buying Property in Mexico as a Foreigner
Buying Property in Mexico as a Foreigner
Yes, Foreigners Can Legally Own Property in Mexico!
Under Mexican Law, non-citizens acquiring residential property within the Restricted Zone—50 km (31 miles) of the coastline or 100 km (62 miles) of international borders—do so safely through a Fideicomiso (Bank Trust).
What is a Fideicomiso?
A Fideicomiso is a 50-year renewable trust agreement between you and an authorized Mexican bank. You hold 100% of the beneficiary rights, giving you absolute ownership control: you can sell, rent, remodel, or pass the property down to your heirs at any time.
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Work with Go baja bienes raices agent: Ensure your real estate partner specializes in cross-border transactions and Mexican real estate regulations.
Designate Substitute Beneficiaries: You can name heirs directly in your trust agreement, preventing complex probate processes later.
Thorough Legal Due Diligence: Always verify clear property titles, registered deeds, and up-to-date utility connections.
Closing with a Public Notary (Notario Público): In Mexico, only an official Public Notary can process and issue your legal ownership title (Escritura).
FREQUENTLY ASKED QUESTIONS:
1. What is a trust in the Restricted Zone?
The Restricted Zone Trust, also known as Transfer of Ownership or Property Trust, is the only legal figure through which a foreigner can acquire the right to use, enjoy, and benefit from a residential property located within the restricted zones.
2. What is the restricted zone?
It includes a strip of 50 km from the sea and 100 km from the borders.
3. What is the duration of a trust?
50 years; however, at the end of this period, an extension for an additional 50 years can be requested.
4. Who is the substitute trustee?
The substitute trustee is the person designated by the primary trustee so that in the event of their death, the property passes to the person they have designated. The substitute trustee can be any person chosen by the trustee, whether of legal age or minor, of Mexican or foreign nationality.
5. How many substitute trustees can be appointed? There is no limit.
6. What are the causes for the termination of a trust? The trust can be terminated by the sale of the property to a Mexican person, or by naturalization as a Mexican citizen.
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