Can a US citizen own Mexican land?

Myth #1: Foreigners Can’t Buy Property in Mexico It’s perfectly legal. Outside the restricted zones—50 kilometers (about 31 miles) from shorelines and 100 kilometers (about 62 miles) from international borders—foreigners can hold direct deed to property with the same rights and responsibilities as Mexican nationals.

Do you need dual citizenship to own property in Mexico?

Yes, a person of any nationality can legally buy real estate in Mexico. However, to purchase property within the restricted zone, (50 kilometers or 31 miles from the shoreline) foreigners are required to purchase property through a bank trust (fideicomiso) or by establishing a Mexican corporation.

Can you own beachfront property in Mexico?

Can expats own beachfront property in Mexico? No, but they can purchase a fideicomiso trust, which can be renewed every 50 years. The 1917 Mexican Constitution banned foreign ownership of any land within the Restricted Zone (RZ), which lies within 64 miles of international borders and 32 miles of any coastline.

Can dual citizens own land in Mexico?

CAN FOREIGNERS OWN PROPERTY IN MEXICO? Yes, any foreigner may obtain ownership of property in the interior of Mexico, they just need a permit from Foreigner Affair’s Office.

Can I get a loan in the US to buy property in Mexico?

Mexico is relatively friendly when it comes to Americans buying a property in the country, going so far as to offer mortgages to US persons. The first thing you need to do to purchase property in Mexico is to go to a local real estate agency and find a respected local law firm.

Can US citizens buy beachfront 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 I get residency if I buy property in Mexico?

Mexico: No Health Or Background Checks, No Required Time In-Country. You can jump straight to a permanent residency visa in Mexico, but this cannot be done with a property purchase… only with income or savings. There is no required time in-country to maintain a visa in Mexico.

How do foreigners buy beachfront property in Mexico?

But currently, foreigners who want to have coastal properties in Mexico need to acquire these assets through Mexican companies or real estate trusts in which a local bank buys a property and then “leases” it to its foreign occupant for an annual fee.

Can a Mexican citizen buy property in Mexico?

Mexican citizens are able to buy properties anywhere within the country, but foreigners face some restrictions when purchasing in some of the more desirable areas.

Can a foreigner get a mortgage in Mexico?

Can Foreigners Get A Mortgage In Mexico? Yes! Currently financing is available for citizens of Mexico, the USA, Canada, the UK and Spain. There are financial institutions that work locally and have been improving the quality of service, speed of the transaction and lowering the interest rates to attract more buyers.

Can a US citizen buy a beachfront property in Mexico?

US citizens could not buy beachfront property, but if married to a Mexican or had a Mexican buy it in their name, they could manage it. Many gringos own land – that is not ocean-front.

Can a Mexican citizen buy land in the restricted zone?

If you decide to sell your property, the bank trust is easily transferable, making your property more marketable. Many Mexican nationals don’t use fideicomisos to buy land, as the Restricted Zone is not restricted to them. They buy land using a deed called an escritura publica.

What are the different types of land in Baja Mexico?

Let’s look at the four major types of land in Baja: the Restricted Zone, the Federal Maritime Land Zone, the Unrestricted Zone, and Ejido Land. The Restricted Zone is the prime land that most international buyers are after.

What is the unrestricted zone in Baja Mexico?

The Unrestricted Zone is the inland part of Baja that is more than 32 miles from the ocean and more than 64 miles from international borders. If you’re a U.S. citizen you can purchase this land without setting up a fideicomiso. The Unrestricted Zone allows foreigners to own land using an escritura publica just like a Mexican citizen.