Buying Property in Yucatán: What Foreigners Need to Know

If you’re considering investing in real estate in Yucatán, one of Mexico’s most beautiful and culturally rich states, there’s an important detail you need to be aware of: the restricted zone for foreign property ownership.

This regulation applies to all areas within 50 kilometers (or 31 miles) of the coast, as part of the country’s measures to protect national sovereignty and interests,

The Regulation and Its Implications

Since Yucatán is bordered by the Gulf of Mexico, many properties fall within this restricted zone. For foreigners looking to purchase property here, it means following a special process to acquire real estate legally and securely.

Bank Trust (Fideicomiso) or Mexican Corporation: Your Options

To comply with Mexican law, foreigners have two primary options for acquiring property within the restricted zone:

Bank Trust (Fideicomiso):
This is the most common and secure option. In this arrangement, the foreigner establishes a trust with a Mexican bank, which acts as the trustee. The foreigner is the beneficiary of the trust and retains full rights to use, enjoy, and sell the property. This structure ensures that the property is legally protected under Mexican law, offering security for the investment.

Mexican Corporation:
Another option is to form a Mexican corporation, typically a Limited Liability Company (S. de R.L.) or a Corporation (S.A. de C.V.). Through this structure, foreigners can own the majority of shares and, through the company, acquire property without needing a trust. However, this is a more complex route that requires detailed legal and tax advice to ensure compliance with Mexican regulations.

The Importance of Specialized Advice

Choosing between a bank trust and a Mexican corporation can have significant legal and tax implications. Therefore, it’s essential to seek advice from real estate experts and lawyers specialized in Mexican law. These professionals will guide you through the acquisition process, ensuring that you select the best legal structure for your particular situation and protecting your investment.

If you’re thinking of investing in real estate in Yucatán, keep in mind that the restricted zone for foreigners necessitates establishing a bank trust or a Mexican corporation. These options not only ensure compliance with Mexican law but also safeguard your rights as an investor. Don’t hesitate to seek professional advice to make the best decision and take full advantage of the opportunities this beautiful state has to offer.

With this knowledge in hand, get ready to explore the wonders of Yucatán and turn your investment dreams into reality!

vadalegal

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Buying Property in Yucatán: What Foreigners Need to Know