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16
May
Buy through a “Fideicomiso”
Posted on Monday 16 de May de 2016

To understand more of the subject we are taking about, it is important to know about the restricted zone. In Mexican Constitution, article 27 mentions that all land situated 100km within along national border or 50km of oceans is determined as "restricted zone", prohibited to foreigners acquire any kind of property in these areas.

 

However mexican government has opened its doors to any foreigner who want to invest acquiring properties in Mexico; there have been introduced laws to make it legal, so buyers won’t have any worries or problems at the moment of purchase any property.

 

To make a safe investment, the most viable option is to do it through a Fideicomiso, this is a trust deed to your name made by a mexican bank, you have the option to choose the bank of your preference; this bank will act as fiduciary, also known as Trustee, and its obligation is to manage all referent to the property and taking the decisions of it, all in benefit of the Trustor; it is important that you select the beneficiaries even before beginning the process.

 

The Fideicomiso concede foreigners the permission to acquire properties in mexican restricted zone, giving confidence that the investment is secure and legal.

 

As said at beginning, the Fideicomiso is an option, you can decide if you use it or not, it is noteworthy that is generally used for properties that are within the restricted zone, in cases that properties are outside this area and sellers are very trustworthy, the fideicomiso is not necessary, nevertheless people prefer using them, because of the protection and security of its investment.