Buy Real Estate in Mexico

Looking for property in Mexico?

Are you considering a move to Mexico? You're probably not the first to stroll along the beautiful beaches of the Riviera Maya and think, 'I want to live here.' Just picture this – over 50 years ago, Cancun was merely a fishing village. Look at it now!

With over a million inhabitants, this incredible Mexican region has become a home for many. Is it your turn to make it yours? Whether you dream of owning a beachfront property in Tulum or a cozy spot in downtown Cancun, the good news is you can be the proud owner of real estate in Mexico.

But before we dive into the details, let's understand the significance of this region and why this part of Mexico is so popular and known across the globe.

Where is the Riviera Maya exactly? 

While you've likely heard of places like Tulum, Playa del Carmen, or Cancun, it's crucial to understand what constitutes the Riviera Maya before diving into real estate.

The Riviera Maya technically stretches from Puerto Morelos, a picturesque seaside town located 35 kilometers south of Cancun. It extends all the way to Punta Allen in Felipe Carrillo Puerto, passing through the enchanting Sian Ka’An biosphere near Tulum, and even includes Cozumel, the largest island in the region. It's a stretch of over 200 kilometers (124 miles) right alongside the Caribbean Sea.

While Cancun, Isla Mujeres, Holbox, Mahahual, or Bacalar aren't technically within the Riviera Maya, they offer excellent options for foreigners looking to live in Mexico. Now that we know where everything is, we can get into the thick of things.

Top stops in the Riviera Maya to live or visit

How to buy real estate in Mexico

At the beginning, we strongly suggest that you seek legal assistance to navigate the property acquisition process. Why is this necessary? Like any foreign country, Mexico has its own unique processes and procedures, which can sometimes be a bit challenging to navigate.

Our role as your trust and real estate attorneys is to be your guides, ensuring a smooth and efficient journey to your new property. We can also help you choose a real estate agency or help you with doing things your way if needed. As a bilingual law firm, we've helped numerous American and Canadian citizens own a piece of land in the beautiful Riviera Maya.

Every country has its own laws, and one of the first questions foreigners ask is, 'Can I, as a citizen of another country, own real estate in Mexico?' The answer is yes. As part of North America and located in proximity to the United States, Mexico has seen many American citizens purchasing real estate over the years, from Cabo San Lucas to Cancun. But how did they do it?

Acquiring Real Estate as a Foreigner in Mexico 

Believe it or not, buying a property in Mexico is relatively straightforward with the right law firm behind you. Mexican law doesn't impose restrictions on foreigners buying property or land in the country, as long as the potential foreign buyer adheres to two key rules:

  • The property must be situated over 100 kilometers from any Mexican border.
  • The property must be more than 50 kilometers from any beach or coast. These areas are considered restricted zones.

Interestingly, you don't even need a special visa or Mexican residence to purchase property. So, in essence, your ability to own a house in Mexico as a foreigner depends on whether the property meets these two conditions.

Can a foreigner buy beachfront real estate in Mexico?

Can you own your dream beachfront property in this stunning country? The answer is yes, and we'll guide you through it. To own real estate in Mexico as a foreigner, you'll require a bank trust known as a 'fideicomiso.' Without this trust, individuals with non-Mexican nationalities cannot purchase Mexican real estate.

So, what is a 'fideicomiso'? This bank trust is a legal transaction in which a Mexican bank acquires real estate in the name of a foreign citizen. The bank holds the property's trust deed but doesn't receive any benefits from it.

With a fideicomiso in place, foreigners can manage, rent, purchase, or upgrade any property in Mexico, even earning a profit from it. Fideicomisos have a 50-year lifespan, but they can be renewed any number of times.

Steps with information to buy real estate in Mexico

Investing in real estate in Mexico

If you aim to start a business or generate income from your newly acquired property, the rules change slightly. However, don't worry – at LORAD, we specialize in business consulting and can help address any queries.

Remember that if you plan to generate income in Mexico, you'll need to be a Mexican resident with a CURP and an RFC number. Whether it's owning a vacation home for rental or Airbnb, the specific regulations depend on the state. But our lawyers at LORAD can assist you in fulfilling your dream of living in Mexico with the right visa for your unique situation.

Now, it's time to make your Mexican real estate dream a reality. Contact us today to begin your journey towards owning a piece of paradise in the Riviera Maya.

Frequently Answered Questions

Ejidos are land that belongs to the people by right (Mexican History has a lot of difficult passages of peasants earning back their lands from Spaniards and rich people). Emiliano Zapata, the Mexican revolutionary from 1910, had a saying that went something along the lines of: "Land belongs to he who works on it."

After the Revolution, thousands of farmers gained access to their lands under the legal form of ejidos.

Now, time passed, and in 1992 the law changed. Many farmers were not using their land, and by ejido law, they could not sell, lease, or mortgage it. So much land was going to waste! The Agrarian Law was created to allow the people who own any piece of land to sell it to people who are not ejidatarios. Now foreigners can own Mexican land. Nevertheless, it is highly advisable to hire a lawyer to help you sort out your way of ejidos and their law's legal intricacies.