Can non-Mexicans (foreigners) buy real estate in Mexico?
Yes, a person of any nationality is able to legally buy real estate in Mexico. People are often misled or believe otherwise due to the existence of a Mexican designation for certain areas called the “restricted zone” (formerly known as the “prohibited zone”). There are a number of methods for acquiring property in Mexico. First, outside of this restricted zone foreign ownership of any type of real estate is legal on a fee-simple basis. Second, for non-residential property, foreigners can acquire real estate via a Mexican Corporation (and under certain conditions these corporations can be 100% foreign-owned). The main 2 conditions are the agreement of the foreigner(s) to subject themselves to Mexican law, and for the property to be registered for non-residential use with the Ministry of Foreign Affairs. This applies to real estate in and out of the restricted zone. Third, within the restricted zone, for residential real estate, acquisition must be made through a bank trust (fideicomiso)
