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CAN I OWN PROPERTY IN MEXICO?
YES -- NON-MEXICANS CAN OWN MEXICAN PROPERTY UNDER TWO BASIC SCENARIOS (The Villa Cortez property falls under Scenario 1):
Scenario #1 - Restricted Zone property - Mexican Foreign Investment Law states that "...in a zone within 100 kilometers (or about 62 miles) along the Mexican border or within 50 kilometers (or about 31 miles) of Mexican coastal area, a foreigner cannot acquire the direct ownership of the land." For these areas, known as "Restricted or Prohibited Zones," Mexican Law allows foreigners all rights of ownership, but this ownership must be held in a Mexican bank trust, or "Fideicomiso" (the equivalent of an American beneficial trust). You retain full rights to exclusively use, lease, renovate and/or transfer your property's trust to any other party.
With a Fideicomiso, the bank is the legal owner of the property. You as the buyer beneficiary are considered a Mexican National, and you retain all benefits of a direct owner, leasing or transfer rights to a third party or pre-appointed heir. The trustee is responsible to you, the buyer beneficiary, to ensure precise fulfillment of the trust according to Mexican Law, and assumes full legal, technical and administrative supervision to protect the buyer beneficiary's interests. Fideicomisos are not held by the trustee as a bank asset.
For your convenience, we have made arrangements with a highly reputable Mexican bank to fulfill this part of the process for you. You are welcome to take advantage of this arrangement, or, if you prefer, to enlist the services of a national bank of your own choosing.
Scenario #2 - Non-Restricted Zone property - any foreigner may own Mexican property as a direct owner, with the same acquisition process as a Mexican National.
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