Do i need to be a mexican citizen to own property in mexico?

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marci knows best

There are some special requirements within a few miles of the coasts, but in the interior, anyone can own property as long as you have the money to pay for it. Coastal property ownership is complicated - you should get a good attorney if you are considering it.

Charlie

Hundreds of thousands of foreign citizens own property in Mexico. You need a real estate agent and a lawyer when you buy property in Mexico. See site below for helpful info.

Cabochick23

Hola. No, anyone can buy property in mexico. However, for property that is within a restricted zone of the nearest coastal area (for example the whole southern baja falls under this restriction) you will need to take up a lease called a fideicomiso with the mexican government and pay a yearly amount to them.

Kenito

Virtually all of Baja is in the "restricted zone" which will require you to obtain a bank trust, or fidecomiso. The restricted zone is 60 kilometers from the coast or international border, and is part of Mexico's constitution.

The terms of the fidecomiso keep getting better for foreign ownership, and now are for terms of 50 years and are renewable. Some speculate that eventually the "restricted zone" will be eliminated, but it will take time. It is a very safe way to control property.

No lease in Mexico is legal for a period over 10 years. As a practical matter the 99 year leases worked well for years, but in actuality were never enforceable or legal.

Many, if not most, new developments now offer title insurance. Some offer title for the whole development; and some offer title to the individual unit. Make sure you understand the difference and know which applies to the property you are considering.

In the bulk of "mainland" Mexico, you can purchase "fee simple" just as in the USA.

Most people use the services of a real estate agent, but everyone should have their fidecomiso or purchase executed by a Notario Publico. The Notario is a very important person in Mexico... far more important than an attorney. Many things about purchasing property in Mexico are similar, but the differences can be significant. I generally recommend people rent before they purchase; talk to others in your area who have done what you want to do; and ask lots of questions.

The link provided by Charlie is an excellent source of information. There are some fantastic bargains in Baja and Mexico these days... do your research and negotiate a good deal!

LSC

The best thing I would say is to get an FM3 at a consulate, you just need prove of income i you are retired, if you want to have property in mexico you have to be there legaly, you get 6 months permits when you get in the first time but you can just be in the country for 6 months,if you get an FM3 you get it for a year and is an special form.

William W

Until the mid 90s, yes you did. Foreigners could only get a 99-year lease. That's changed since then.

HAZ PATRIA, MATA A UN GRING0

if you are smart, yes.

Jocy

yes u do

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