Frequently asked questions
Yes, foreign investors can legally purchase real estate in Mexico. The process is straightforward, especially in popular areas like the Mayan Riviera. 1. **Restricted Zone**: Foreign ownership is restricted within 100 km of borders and 50 km of coastlines. 2. **Fideicomiso**: A bank trust that allows foreign investment in restricted zones. 3. **Mexican Corporation**: For larger or commercial investments, a foreign-owned corporation can acquire property. Our experts can help you navigate the process smoothly and securely.
When buying property in Mexico, expect to budget between 6% and 8% of the purchase price for closing costs. These include: 1. **Property Acquisition Tax**: 2% to 5% of the sale price or assessed value. 2. **Notary Public Fees**: 1% to 1.5% of the property value. 3. **Public Registry Fees**: 0.01% to 0.1% of the property value. 4. **Fideicomiso Setup Fees**: $1,500 to $3,000 USD for properties in the Restricted Zone.
Financing a property purchase in Mexico is possible and offers several options: 1. **Cash Purchase**: Simplifies the process and can lead to faster closings and better prices. 2. **Home Equity Loan or HELOC**: Leverage the equity in your home country property. 3. **Developer Financing**: Available for pre-construction properties with flexible payment plans. 4. **Cross-Border Mortgages**: Offered by international banks and specialized lenders. 5. **Bitcoin Backed Financing**: Available through our network with competitive rates. Our experienced agents can guide you through the legal aspects to ensure a secure transaction.
Yes, investing in real estate can help you obtain residency in Mexico. You can apply for temporary residency if you own property that meets a minimum value threshold. After 4 years, you can apply for permanent residency. Requirements include: 1. **Property Ownership**: Minimum market value of US$218,000−US$587,000. 2. **Investment in a Mexican Company**: Capital investment of US$109,000−US$279,000. 3. **Economic Solvency**: Show regular income and savings from your home country. Requirements vary by consulate.