The Mexican Constitution restricts foreign ownership of property. But like all things in Mexico, there’s a way around this. And this way around is totally legitimate too! Maybe people looking at retiring in Mexico are interested in owning property in Mexico. A trusted real estate agent can help.
Gordon Wilson, realtor with Baja Life Realty walks Fideicomisos with us. https://bajaliferealty.com/ or gordon@bajaliferealty.com
A Fideicomiso is a bank trust that allow foreigners to buy property within 100km of the international borders and 50km of the ocean. They add some cost to the closing and also have a recurring annual fee of around $500USD. But owning a home in Mexico is affordable compared to similar places in the America or Canada.
It’s also possible to form a Mexican corporation to own property. But this is more common for larger parcels (bigger than 1/2 acre) or when someone is buying multiple properties.
In the interior of Mexico, foreigners only need one form to buy property. (agreeing that they will be treated just like Mexicans.)
Check out Gordon @GordWilsonsBajaLife
and
Baja Life Realty @bajaliferealty6506
#mexicorealestate
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The Mexico Relocation Guide is the perfect resource for moving to Mexico. We’ve partnered with them and you can get the guide here: https://mexicorelocationguide.com/?ref=34
