Mexico Real Estate
Foreigners may lease and own real estate and other properties in Mexico. However, there are several guidelines that must be taken into account before purchasing real estate. Mexico is not a common law country. In Mexico, real estate matters are governed by State laws, which means that the applicable rules to real estate are based on the location of the real estate.
A foreign individual or company may directly own land in Mexico except in what is described by Article 27 of the Mexican Constitution as the "restricted zone." A zone within one hundred kilometers (sixty-one miles) of the international border and fifty kilometers (thirty-one miles) of the seacoast.
The Mexican constitution of 1917 prohibited foreign ownership of residential real property within approximately 31 miles (approximately 50 km) of any coastline and 62 miles (approximately 100 km) of its natural borders. then in 1971 (further expanded in 1989 and again 1993) provisions were made for a mechanism that would allow foreigners to own property in the “restricted zone.”
Country information
Population: 131,946,900 hab Aprox.
Capital: Mexico City
Official Language: Spanish
Income percapita: $10,326.95 USD
Key Benefits
Provides unrestricted residency, allowing individuals to live, work, and own property anywhere in the country without visa limitations
Greater travel freedom with a Mexican passport, which grants visa-free or visa-on-arrival access to many countries
Grants full political rights, including the ability to vote in elections and run for public office, ensuring a voice in the nation’s governance
Mexico Real Estate:
Within the “restricted zone,” a foreigner purchases the beneficial interest in real property through a bank trust or “fideicomiso.” In this bank trust, the buyer of the property is designed as the “fideicomisario” or the beneficiary of the trust. While legal title is held by the bank, (specifically the trustee of the trust or the “fiduciario,”) the trustee must administer the property in accordance with the instructions of the buyer (the beneficiary of the trust). The property is not an asset of the bank and the trustee is obligated to follow every lawful instruction given by the beneficiary to perform legal actions, i.e. rent it, make improvements, sell it, etc. All new trusts have a time period of 50 years and these trusts are generally renewable for an additional 50 years.
Some additional requirements to purchase real estate in Mexico:
The acquisition of real estate must be conducted before a public notary, judge or property registrar officer and two witnesses when its value does not exceed the equivalent of 365 times the daily minimum wage.
For higher values the transaction must be conducted by a Public Notary and registered in a deed.
The parties should pay taxes in a real estate purchase.
Visas and country access may be temporarily limited or changed due to political current events. Please refer to the official U.S. Mexican Consulate, U.S. Mexican Embassy, and U.S. travel website for the most recently updated information.
Contact us
If you have any questions about Antigua and Barbuda, don't hesitate to contact us. We are here to help you.