Purchasing a villa, lot, or condo in Mexico just got easier. Mexico’s federal government has liberalized ownership provisions for real property located in an area known as the “Restricted Zone” which was formerly constitutionally protected from foreign nationals wishing to acquire property. Under the Mexican Foreign Investment Law, foreign nationals seeking to acquire property for residential, commercial or tourist purposes now enjoy greater legal freedom.
The purchase of real property is subject to the permission of the Mexican Department of Foreign Affairs. This federal agency is responsible for granting the required permits and authorizations to those foreign nationals purchasing real property within the restricted zone.
Title to real property within the restricted zone can be lawfully acquired by foreign nationals in two ways:
If you have any questions involving the purchasing of land in Mexico, please contact Kirton & McConkie’s in-house Mexican attorney, Gabriel Sanchez at csanchez@kmclaw.com. Mr. Sanchez is currently assisting clients who have projects involving both foreign nationals who have created Mexican corporations to hold title to non-residential real estate and foreign nationals who are seeking to acquire residential property.