1: INTRODUCTION

By TLRM on January 18th, 2023

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Each country has their own rules for buying Real Estate and when you first buy in Mexico it can seem confusing! If you want to buy or sell a home in Mexico, especially in the Restricted areas like Cancun and the Riviera Maya, your best bet is to look for a serious local real estate agent who will guide you through the process.

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Many Americans and Canadians are heading South of the Border seeking the Sunshine, Beaches, the rich Mexican Culture and friendly Mexican people. Some are looking for a vacation home, others for an investment and still others for Retirement.

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The purchase process for foreigners looking to buy real estate in Mexico is simple and straightforward. If you’ve done your due diligence, and you are represented by experienced real estate professionals and a well-recommended notary, you’ll have no problems.

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Mexico passed the Foreign Investment Law in 1973, allowing foreigners to purchase real estate anywhere in the country except in the restricted areas within 100 kms of the border and 50 kms of the coast.

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The law was amended In 1993, to permit a purchase within restricted areas through a trust agreement, called a Fideicomiso, established through a Mexican Bank for an initial 50 years and renewable thereafter. It can also be held by more than one or individual or by a Legal Entity (eg. an LLC).