Playa Builder

Unleash Your Home's True Potential

Fideicomiso: Buy and Own Property in Mexico as a Foreigner

Transform Your Home With Us

Transform your home into a personalized haven with our expert home remodeling services tailored to your unique style and needs

Navigating the Real Estate Landscape in Mexico: A Comprehensive Guide for Americans and Canadians

The allure of owning property in Mexico, with its vibrant culture, breathtaking landscapes, and favorable climate, has captivated many Americans and Canadians. While the prospect of securing a dream home in this idyllic setting seems enticing, the intricacies of the Mexican real estate market can be intimidating for foreign buyers. This comprehensive guide delves into the nuances of property ownership in Mexico, specifically tailored for Americans and Canadians, empowering you to make informed decisions and navigate the process seamlessly.

Dispelling the Myth: Can Americans and Canadians Own Property in Mexico?

A common misconception prevails that Americans and Canadians are prohibited from owning property in Mexico. This notion is far from the truth. Mexican law unequivocally grants foreigners the right to purchase and own real estate, with the exception of properties located within restricted zones.


Understanding Restricted Zones: Navigating Fideicomisos

Restricted zones encompass areas within 50 kilometers (31 miles) of the coastline and 100 kilometers (62 miles) of the land border. To acquire property within these restricted zones, foreigners must establish a bank trust known as a fideicomiso. This innovative legal mechanism effectively grants foreigners the right to own and utilize property in these areas, albeit indirectly.

Fideicomisos: A Bridge to Property Ownership

A fideicomiso is a 50-year renewable trust that appoints a Mexican bank as the legal owner of the property, while the foreign buyer serves as the beneficiary. This arrangement grants the beneficiary extensive rights, including the ability to reside in, rent, modify, inherit, and bequeath the property. The fideicomiso structure safeguards the property’s legal status and ensures that it remains in Mexican ownership while allowing foreigners to enjoy the full benefits of property ownership.

The Property Purchase Process: A Step-by-Step Guide

  1. Identifying Your Dream Property: Embark on the exciting journey of finding your ideal property, whether it’s a charming colonial home in a picturesque town or a modern condo overlooking the turquoise waters of the Caribbean Sea.
  2. Making an Offer and Signing the Sales Agreement: Once you’ve found your dream property, express your interest with a formal offer. Upon reaching an agreement with the seller, sign the initial sales agreement, typically accompanied by a 5-10% deposit.
  3. Enlisting Legal Expertise: Engage a reputable Mexican lawyer to review and translate the legally binding version of the sales contract into English. This ensures that you fully understand your rights and obligations as the buyer.
  4. Initiating Wire Transfers: As per the terms of the sales agreement, make the deposit and subsequent payments via wire transfer to the seller’s designated account.
  5. Establishing a Fideicomiso: Once the full purchase price has been paid, the seller will initiate the process of establishing a fideicomiso on your behalf. This involves selecting a trusted Mexican bank and completing the necessary paperwork.
  6. Covering Closing Costs: Prepare to cover closing costs, which typically include taxes and fees, and average around 6% of the property value in Playa del Carmen, Mexico.
  7. Receiving the Final Deed: Within three months of closing the transaction, the Public Registry will issue the final deed (escritura), officially transferring ownership of the property to you. This document serves as irrefutable proof of your ownership rights.

Timeline and Variations: A Dynamic Process

The timeframe for completing the property registration process typically ranges from 45 to 100 days. The exact duration may vary depending on the complexity of the transaction, the type of property, and the efficiency of the relevant government agencies.

Seeking Professional Guidance: A Path to Success

Embarking on the journey through the complexities of the Mexican real estate market might seem overwhelming. To guarantee a seamless and prosperous experience, team up with Playa Builder. Our seasoned experts hold profound insights into the legal intricacies and offer invaluable support at every step.

Embrace the Dream: Owning Property in Mexico

With careful planning, thorough research, and the assistance of trusted professionals, the dream of owning property in Mexico can become a reality. Embrace the rich cultural tapestry, the breathtaking natural beauty, and the endless possibilities that await you in this captivating land.

Subscribe to our newsletter

Work with us

Experience excellence in home construction and remodeling with Playa Builder

Our team of experts will transform your vision into reality, delivering exceptional craftsmanship and personalized service.
Trust us to build your dream home in Playa del Carmen, creating a space that reflects your style and exceeds your expectations.

Elevate Your Home, Inspire Your Style

Explore More Blogs

Discover endless inspiration for your home design, decor, and lifestyle through our insightful and creative blog posts.

Don't miss out on our latest home renovation tips and trends

subscribe to our newsletter today!


English spoken

US: +1 303 317 6639

MX: +52 1 984 803 5014

Send us an email:

Interior Design for Luxury Homes

Ready to explore the world of sophisticated interior design in luxury homes? Download our exclusive infographic now to discover the key elements that elevate the aesthetic appeal of luxury residences in Playa del Carmen.