How do I own Land in Mexico?
Are you considering owning property in Mexico, but concerned about the legalities and complexity of the process?
It may surprise you to learn that owning property in Mexico is not as difficult as some may think. Here is a brief guide on how Americans can own property in Mexico.
Legal Framework
The Mexican government has established two legal frameworks allowing foreign ownership: the Fideicomiso and the Mexican Corporation.
Fideicomiso
A Fideicomiso is a trust agreement between a Mexican bank and a foreigner. The bank holds the title to the property in trust for the foreigner, who is the beneficiary of the trust. The Fideicomiso is a popular and secure way for foreigners to own property in Mexico. It allows the foreigner to hold the same rights and privileges as a Mexican citizen, including the ability to sell, rent, or transfer the property.
Mexican Corporation
A Mexican Corporation is another legal framework that allows foreigners to own property in Mexico. The corporation must have at least two shareholders, one of whom can be a foreigner. The corporation can then purchase and own property in Mexico, and the foreign shareholder can hold shares in the corporation. This option can provide some additional flexibility for investors who are planning to invest in multiple properties or businesses in Mexico.
It’s That Simple
Contrary to popular belief, the process of buying property in Mexico is relatively straightforward. Foreigners can work with a reputable real estate agent, who can guide them through the process of finding and purchasing property. Additionally, working with a local attorney or notary can help ensure that all legal requirements are met.
Ownership Rights
Foreigners who own property in Mexico through a Fideicomiso or Mexican Corporation have the same ownership rights as Mexican citizens. This includes the right to use, enjoy, and dispose of the property. The property can be passed on to heirs or sold to other foreigners or Mexicans.