Property Ownership in Careyes
What you need to know:
Generally speaking the first questions often received from potential new buyers is whether or not it is legal to own property in Mexico as a Non-Citizen of Mexico. The answer is yes!
The Mexican government is aware of the large number of foreign entities both individuals and corporations that are looking to make Mexico their next home. Throughout the years regulations and constitutional amendments have been made to ensure a smoother process for those looking to invest in real estate here in Mexico.
Costa Careyes is located within what is known as the "restricted zone", this applies to any land located within 50 kilometers of the Mexican coast or 100 kilometers from any bordering countries.
This was originally put in place (in 1917) to avoid from foreign invasion but today, the restricted zone is simply a legacy of Mexican culture and history. It is not a ploy to stop foreigners from investing in Mexico. In fact, Mexico’s Foreign Investment Law (enacted December 28, 1993) was created to protect foreigner rights in the restricted zone and to ensure the safe and legal acquisition of real estate.
Now within the current regulations you can purchase and own real estate here in Mexico via a Fideicomiso or establishment of a foreign owned Mexican Corporation.
With vast experience on both buying and selling of real estate here in Mexico, Pacific Luxury Villas would be more then happy to provide assistance throughout the entire process of your future acquisition.