Tuesday, November 22, 2011

Can Foreigners own land in México?

The Mexican Constitution, passed in to law in 1917, created what is called the "Restricted Zone". This Restricted Zone is 100 kilometer (62 miles) from the borders and 50 kilometers (31 miles) from the coast. And in this Restricted Zone only Mexican can own the land.

In the 1960's the Mexican government recognized that there was a lot more money outside Mexico that inside Mexico. To attract foreign investment, a Bill passed in 1970 created a legal way for foreigners to invest in Mexico. This new law allowed the creation of a trust ("Fidecomiso" in Spanish) with a Mexican bank holds the title and administers the trust, thereby satisfying the Constitutional requirement for Mexican ownership in the Restricted Zone. The foreigner is the beneficiary of the trust and control the land (rents,sells,improves, whatever...)Because of this 1970 Fideicomiso Bill, major foreign investment flowed into Mexican and we witnessed the developments of Riviera Maya,  Cancun y Cozumel. Read More

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