Can a US citizen buy property in Puerto Vallarta?

There are ways around this restriction, which allows foreigners to purchase real estate in Puerto Vallarta & Riviera Nayarit. Luckily the Mexican Foreign Investment Law provides one solution in the form of a fideicomiso (pronounced Fee-deh-com-ee-so) a trust allowing foreigners to buy within the restricted zone.

Where is the restricted zone in Mexico?

The restricted zone, according to Article 27 of the Mexican Constitution, is all land located within 100 kilometers of any national border and within 50 kilometers of any ocean. Article 27 of the Constitution states that no foreigner will be allowed to acquire direct title to land within the restricted zone.

Can non citizens own property in Mexico?

The law permits foreigners to acquire property in Mexico, as long as it is located outside of the so-called ‘Restricted Zones’, which include any land within 100 kilometres of foreign borders or within 50 kilometres of the sea, as an attempt to prevent foreign invasion.

Can Americans own condos in Puerto Vallarta?

It is a common misconception that foreigners cannot own Real Estate in Mexico, but the reality is that they can. Outside the restricted zone, defined below, a foreigner or foreign corporation can acquire any type of Real Estate, holding the property as a direct owner complying with Mexican Law.

Is Merida Mexico in the restricted zone?

Merida and many areas of the Yucatan are in the Restricted Zone ( ie: within 50 kilometers or approximately 31 miles from the coastline or 100 kilometers from the border). Foreigners may purchase property in the Restricted Zone by establishing either a bank trust (FIDEICOMISO) or a Mexican Corporation.

Can you buy beachfront property in Mexico?

In Mexico, the constitution forbids foreigners from directly owning property in a “restricted zone” that extends 50 kilometers inland from the ocean and 100 kilometers from any national border. That doesn’t mean that American owners — including the Wells — can’t own an oceanfront house.

Can I buy beachfront property in Mexico?

Do you have to be a Mexican citizen to inherit property in Mexico?

Yes, any property owned by a foreigner (using a fideicomiso) can be transferred to their beneficiaries after death. The best way to protect your property is to have a will, which can either be a foreign will or a Mexican will.