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BUYING IN MEXICO

BUYING IN MEXICO

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Estrella del Mar offers the foreign investor one of the most secure forms of property ownership in all of Mexico. The following information describes the process of Mexican Property Ownership.

The Restricted Zone

The Mexican Constitution regulates the ownership of the land and establishes that “…in a zone of 100 kilometers along the border or 50 kilometers along the coast, a foreigner cannot acquire the direct ownership of the land.” These areas are known as the “Restricted or Prohibited Zones”.

Fideicomiso or Bank Trust

Any foreigner or Mexican National can form a Fideicomiso (the equivalent to an American beneficial trust) through a Mexican bank in order to purchase real estate anywhere in Mexico, including the Restricted Zone. To do so, the buyer requests a Mexican bank of his/her choice to act as a trustee on his/her behalf.

The bank obtains the permit from the Ministry of Foreign Affairs to acquire the chosen property in trust. The Fideicomiso can be established for a maximum term of 50 years and can be automatically renewed for successive 50-year periods. During these periods you have the right to transfer the title to any other party, including a member of your family.

The bank then holds the property in trust on behalf of the owner for the exclusive use of the buyer/beneficiary who has all the benefits of a d