06/02/2024
𝑻𝒊𝒑𝒔 𝒇𝒐𝒓 𝑶𝒘𝒏𝒊𝒏𝒈 𝒀𝒐𝒖𝒓 𝑷𝒓𝒐𝒑𝒆𝒓𝒕𝒚 𝒊𝒏 𝑻𝒖𝒍𝒖𝒎 (𝒂𝒏𝒅 𝒐𝒕𝒉𝒆𝒓 𝑴𝒆𝒙𝒊𝒄𝒂𝒏 𝑩𝒆𝒂𝒄𝒉𝒆𝒔)🌴🏡
Tɪᴘ #1 –ʟᴇɢᴀʟ ᴄᴏɴsɪᴅᴇʀᴀᴛɪᴏɴs
Understanding the Context: 🌐 We want to share valuable information with you regarding the acquisition of properties in Mexico, specifically in coastal areas like Tulum. The Mexican Constitution's Article 27 establishes certain restrictions for foreigners, stating that they cannot have "direct ownership" of properties within a 100-kilometer strip along the borders and 50 kilometers on the beaches. However, it's crucial to comprehend the meaning of "direct ownership."
Within this "restricted zone," there are alternatives for foreigners to enjoy rights over real estate. Two common options are a trust (fideicomiso) and the establishment of a "Mexican legal entity (Persona Moral)." 🏦👥
In the case of a trust (fideicomiso), the foreigner can request a Mexican bank to act as a trustee, holding the title to the property. The foreigner becomes the beneficiary (fideicomisario), thus having the use and enjoyment of the property. This trust has a duration of 50 years, with the possibility of extension. 📅
Another option is to establish a Mexican legal entity (Persona Moral). In this scenario, the foreigner can be a partner or shareholder, allowing the entity to acquire ownership of the property. It's important to distinguish whether the property is within or outside the "restricted zone," as, for the former, especially if it's residential real estate, the Mexican legal entity must use the trust structure as previously described. 🏠🌊
We understand that this topic can be complex, but having this information from the beginning will help you avoid complications. We recommend asking your Real Estate agent if they have a legal firm and accounting firm team to provide the necessary and basic support in this process. 🤝
We're here to assist you in turning your dream of owning a property on the beautiful Mexican coast into a reality! Feel free to ask us any questions. 🌟
