Yucatan New Homes Real Estate

When people from other countries has decided to buy a property in Mexico, they have to take notice of the location the property lays on to determine which procedure they should take to achieve it.



That is, you must specifically verify whether the property is inside or outside the restricted area as called in Mexico.



The restricted zone is within the range of one hundred kilometers along the borders of the country or fifty kilometers from the Mexican beaches.



Inside The Restricted Zone

If the property is located within the restricted zone, the procedure to acquire it has special characteristics since a trust needs to be done.

The Trust

The trust is a legal instrument that allows people of foreign nationality to acquire properties within the area known as "restricted zone."



It is through a bank the trust is made, giving the recipient (you as an individual or entity) of the trust the same rights and obligations acquired when Mexican purchase properties in that area, that means all the benefits that comes with the property. Ie he has the right to use, enjoy, modify, rent, transfer or sell the property at the time you want.

There are certain cases when the ideal procedure is to establish a Mexican corporation, for example when the property has an area over 2000 m2, or when trying to allocate the property for a business or when several properties are going to be acquired, this to avoid the development of a trust for each property to be acquired.

The Legal Advice

Before performing any operation, it is necessary to contact one of our lawyers to advise you of which procedure is the recommended for you. Our lawyers will give you legal advice always taking care of your interest and support you throughout the necessary legal proceedings for your future acquisition.

Outside The Restricted Zone

If the property is located outside the restricted area, a permit from the Ministry of Foreign Affairs (Secretaría de Relaciones Exteriores) is needed to obtain the authorization for the acquisition of the property. When this permit is obtained, you can perform the buy-sale contract.

Yucatan New Homes Real Estate