Do I need to be a citizen to buy a house in Mexico?

No! You definitely do not have to be a citizen of Mexico in order to buy property anywhere in the country. As with all other real estate transactions in Mexico, those involving properties held in a fideicomiso are governed by federal law.

Can you buy a house in a country you don’t live in?

Individual countries have the right to place restrictions on non-citizens who want to own properties. Even if the country you’re interested in allows foreigners to buy homes, you may be required to obtain special residence permits or register with a government agency before you can complete a home purchase.

Can IRS take your house in Mexico?

Yes. Regardless of where you live, the IRS can file a lien against your assets regardless if the assets are located in the US or in a foreign country. Just as long as you own the assets, they are subject to levy.

How do I buy real estate in Mexico?

How to Own and Purchase Real Estate in Mexico. There are three ways of owning Mexican property: via direct deed (all property in the interior), through a Mexican corporation (commercial property), or through a bank trust called a fideicomiso, for residential property in the restricted zones.

Can foreigners own property in Mexico?

Foreigners may obtain direct ownership with a direct deed of a property in the interior of Mexico. So let’s define the subject of restricted zones where foreigners are NOT permitted to own property. That is land that is within 100 kilometers, or for you Americans 60 miles, of any Mexican border or 50 kilometers, 30 miles, of any Mexican coastline.

Can you own property in Mexico without a trust?

Almost Generally speaking, there are no restrictions on the ownership of residential property in Mexico, and you can hold the title in your own name. You can choose to hold it in a trust—for asset protection or estate planning purposes—but it’s not required.

How close to the border can you buy a house in Mexico?

Special Rules Apply When Buying Near The Coast Or Land Border Mexico has a restricted zone—called the Zona Restringida —that occupies a band within 50 kilometers (31 miles) of the coast or 100 kilometers of an international land border.

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