Alternatives Nearby Puerto Vallarta
Owning Real Estate in Mexico
Puerto Vallarta is a beautiful coastal city located in the state of Jalisco, Mexico. Many foreigners consider buying property in this area, but they often have doubts about the legal procedures and regulations involved. However, it is possible for foreigners to own real estate in Mexico. There are two ways to do this: the first is to purchase property outside the Restricted Zone, which is defined as the 100-kilometer border zone and the 50-kilometer coastal zone. The second way is to use a bank trust, known as a Fideicomiso, which enables foreigners to own property in the Restricted Zone. The trust is established by a Mexican bank acting as a trustee, with the foreign buyer as the beneficiary. The bank then becomes the legal owner of the property on behalf of the buyer, who enjoys the benefits of a direct owner, including leasing or transferring their rights to a third party or pre-appointed heir. Foreigners can also establish a Mexican corporation to purchase non-residential property. It’s essential to use a reputable real estate company when purchasing property in Puerto Vallarta. Currently, there are no license laws regulating real estate brokerage and sales in Mexico. The financing of real estate in Puerto Vallarta is mainly conducted in cash, but there are some banks offering attractive mortgage programs to foreigners with FM-2 immigration status.
Riviera Nayarit is a paradise on Mexico’s Pacific coast, stretching from Nuevo Vallarta to San Blas. With beautiful beaches, luxury resorts, and world-class golf courses, this region has become a favorite destination for tourists and expats alike. For those looking to make a more permanent move, Riviera Nayarit offers an excellent opportunity to invest in real estate. Whether you’re a Mexican citizen or a foreigner, buying property in Riviera Nayarit can be a great way to enjoy the area’s natural beauty, vibrant culture, and thriving economy.