The Land Purchase Process in Mexico for Foreigners
Mexico, and especially the Riviera Maya, is a popular destination for foreigners interested in investing in property. While the purchasing process is accessible to international buyers, there are specific requirements and regulations you should be aware of before getting started. Here, we explain the process to ensure your investment is both successful and secure.
1. Trust for Foreigners
According to the Mexican Constitution, foreigners cannot directly purchase properties in restricted zones (50 km from the coast and 100 km from the border). However, it is possible to buy land in these areas through a bank trust. The bank holds the title to the land, while the foreigner retains all rights of use and possession.
2.- Hire a Legal Advisor
To avoid complications, it is advisable to work with a legal advisor specializing in real estate to review documentation and guide you through each step. This advisor will assist with setting up the trust, reviewing the property's title, and obtaining the necessary permits.
3. Financing and Fund Transfer
Verify the financing options available for foreigners and consult with your bank about transferring funds to Mexico. In some cases, it is possible to obtain mortgages from local or international banks. Additionally, ensure that the transaction complies with Mexican regulations and the tax requirements of your home country.
4. Tax Payments and Procedures
As a property owner, you will need to cover certain taxes, such as the Real Estate Acquisition Tax and deed registration fees. It is important to understand these costs and include them in your investment budget.
Purchasing land in Mexico as a foreigner is possible and secure if you understand the process and have the right support. At Zold58 Real Estate, we have experience assisting international buyers in the Riviera Maya.
Contact us and let us guide you through the process to ensure your investment in paradise is a success.
