What is a trust and who needs a trust ownership?
Since 1973 a constitutional amendment known as the Foreign Investment Law has allowed non-Mexicans to acquire Restricted Zone land (30 Miles inland from coast or Mexican borders) through a trust called Fideicomiso (FEE-DAY-E-CO-ME-SO), established with a Mexican Bank. This trust assures the foreign buyer of all right and privileges of ownership, and is needed to own properties which fall into the restricted zone by article 27 of the 1917 Mexican Constitution. As of 1994 the Foreign Investment Law dictates that the trust be established for a term of 50 years, renewable at any time during its existence by simple application.
