Fideicomiso: The Key to Home Ownership in the Mexican Caribbean
Real Estate in the Riviera Maya
Playa del Carmen and the Riviera Maya, represent one of the fastest growing tourist destinations in the Caribbean.
The enticingly close proximity to the white sand beaches and jewel-colored waters of the Riviera Maya also means that the properties you are wanting to invest in here are situated in a zone where Mexican law designates special requirements for foreign buyers.
There are two criteria for determining real estate that requires a special purchasing structure for foreign investment:
The property is located within 50 km (31 miles) from a Mexican coast and/or
The property is located within 100 km (62 miles) from Mexico’s international borders
Mexico’s foreign investment law mandates the legal process required for Non-Mexicans obtaining rights to real estate that meets this criteria, stating that Non-Mexicans can acquire rights to such property under one of two legal distinctions:
For use as a residential property
For use as a commercial property (for business use)