Get all the answers to the most frequently asked questions (FAQs)
general questions
A: Yes, a foreigners can buy properties in Mexico through a bank that would work as a trust (fideicomiso).
A: Yes, as per a law passed in the year 1973 and 1993 foreigners, foreign firms, as well as Mexican firms with foreign participation can own coastal real estate via bank trust.
A: Mexico government issue Tourist Visa for foreigners. The validity of a tourist visa is for 180 days (almost six months). One can also apply for Temporary Resident Visa, which is valid for a 12 month period from their country and it can be renewed for up to four years.
A: The bank trust is made of three parties. Trustor, the seller of the property; Trustee; the bank (Fiduciario), and the buyer is the Beneficiary (Fideicomisario.)
A: Yes. The bank charges an annual fee for its services as a Trustee.
A: The title ship of a property is transferred to a trust where Mexican bank acts as Trustee. The Mexican Ministry of Foreign Affair issue permits to formalize the trust agreement. The buyer is titled as Beneficiary in the Trust and buyer’s rights are recorded in the public record by a Notary Public.
A: As Beneficiary, one can sell their property without restriction. The beneficiary may also transfer property rights to a third party or pass it on to named heirs.
A: As per 1993 law, Trusts can be renewed for an indefinite number of successive 50 year periods.
A: Normally there are five players involved in a real estate transaction. These are the real estate company, the seller, the buyer, a bank, and a Public Notary.