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Can a non-Mexican own Mexican real property?

By: Juan Zuniga and Angela Gonzales


Source: www.sddt.com


 

 

With forthcoming changes in the Mexican government, the revival of its economy and a saturation of inventory south of the border, owning property in Mexico may again be an attractive option to many foreign investors.


The question is, can a non-Mexican citizen own real property in Mexico? The answer: a resounding yes. The Mexican Constitution delineates a "Restricted Zone" which includes any land within a strip of 100 km along the borders and 50 kilometers along the coasts, and prohibits private foreign citizens from directly owning property located within that area. Naturally, this provision generates much confusion and many misconceptions about a foreigner’s ability to own property in Mexico, but fortunately the inquiry does not end there. The purchase of real estate by non-Mexicans is regulated by the Foreign Investment Act of 1993 (as amended), which provides that foreigners may purchase property in the Restricted Zone for residential use through a Fideicomiso.

 

CONTINUE READING AT SDDT.COM.....





Published Tuesday, October 2, 2012 10:50 AM by Faby Delgado

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# Ex-Pat and Proud of It | Mexico Real Estate

Sunday, May 12, 2013 6:13 AM by Ex-Pat and Proud of It | Mexico Real Estate
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