|Posted on March 1, 2014 at 11:30 PM|
Foreign Ownership of Property in Mexico; by law, can only be acquired through a corporation.
The Mexican Constitution regulates the ownership of land and declares that ...within a zone of 100 kilometers from the border or 50 kilometers from the coast, a foreigner cannot acquire the direct ownership of the land. These areas are known as Restricted or Prohibited Zones. However, the latest Mexican Foreign Investment Law, which was ratified on December 28, 1993, allows a foreigner or foreign corporation to obtain the rights of ownership through a fiduciary trust known as Fidelicomiso, the equivalent of a US beneficiary trust.
Alternatively the purchase of non-residential property can be achieved through a Mexican corporation which, under certain conditions, can be 100% foreign-owned. An agreement is signed that says the corporation is subject to Mexican law and the owners will not invoke the laws of their parent country. Also, the real estate must be registered with the Foreign Affairs Ministry and be used for non-residential activities. In other words under the above conditions foreigners can directly acquire properties for tourist, commercial and industrial use.
Now this may change in the near future.
Americans Might Soon Get To Buy Mexican Beachfront, Border Land Without Using a Corporation.
For the first time in nearly a century, Mexico is considering letting foreigners own land outright along the coast and near international borders.
As this blog post by Carrie Kahn reports: http://www.npr.org/blogs/parallels/2013/11/13/245036897/americans-might-soon-get-to-buy-mexican-beachfront-border-land
Is offering a Referral Fee In The Amount Of 1.5% of The Final Negotiated Sale Price To Anyone Who Refers a Buyer Who Completes A Final Closing On:
2,200 Acres Of Prime Oceanfront Property.
Listing Price: $600 Million Dollars "USD"
That's $272,727.27 Per Acre
Located in a strip of solid land between the Acapulco Ixtapa highway in the State of Guerrero, Mexico & having more than 9 miles of beach, lagoon and estuary front of soft white sand.
Contact: Calvin Butler
Email: [email protected]