Owning property in Mexico as a non-Mexican is legal and straightforward, even within the restricted zones. These zones, located near waterfronts/shorelines and international borders, require property ownership through a bank trust or a Mexican corporation entity.
The main difference between a bank trust and a Mexican corporation entity lies in the intended use of the property. A bank trust offers more control over ownership and is suitable for personal use only. On the other hand, a Mexican corporation is necessary if the property will be used for business or income-generating purposes.
Distinguishing between personal and business use is crucial. Personal use includes enjoying the property as a vacation home or a remote work location. Remote work is considered personal use because the location doesn’t impact the nature of the work. However, business-related activities, such as offering services or selling products to local customers, require property ownership through a Mexican corporation.
It is indeed possible to purchase property within the restricted zone under a Mexican corporation entity. While there may be additional paperwork involved to register the property for business purposes, the process is manageable and ensures compliance with regulations.
Non-Mexican property owners in Mexico enjoy the same protections as Mexican citizens. Concerns about confiscation of land are largely unfounded, as the Mexican government cannot simply seize property without following due process. In exceptional cases where land is needed for public use, the government must provide fair compensation to the property owner.
Overall, owning property in Mexico as a non-Mexican offers numerous opportunities and rights. Understanding the options, such as bank trusts and Mexican corporations, ensures a smooth and secure property ownership experience.
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