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Residency required to buy land?


bdlngton

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Yes

 

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  • 2 weeks later...

Sonia is correct, but you should also know that coastal property and property near the border can't be owned outright, but must be owned through a bank trust. The Mexican Constitution regulates the ownership of land and declares that ...within a zone of 100 kilometers from the border or 50 kilometers from the coast, a foreigner cannot acquire the direct ownership of the land. So in those zones you'll need a bank trust to own the land, and then you hold the trust. There's an annual maintenance fee set by the bank, so  you can shop around. You will also have to register with the Ministry of External Affairs, and of course to complete the transaction you should find a trustworthy Notario, a type of Mexican lawyer who handles property transactions among other things. 

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