How to buy a property in Mexico if you are a foreigner? Requirements, legal aspects, taxes and best destinations in 2023.
Mexico is a country full of charm, with a rich culture and history that in recent years has become a popular destination for foreigners wishing to purchase property. Whether it is a house, an apartment or land, buying property in Mexico as a foreigner is a rewarding experience and investment decision. And for this it is important to know the legal requirements and the most important financial aspects involved in this process. The following is a complete guide on how foreigners can buy property in Mexico so you can take advantage of the opportunities offered by the real estate market in 2023.
Undoubtedly, when buying a property in Mexico as a foreigner you must take into account the legal aspects involved in the purchase. First, you should be aware of the "Calvo Clause"; this is an international law doctrine that guarantees equal treatment for foreigners under the laws of the host country and limits their ability to invoke the protection of their home government in case of disputes. In the context of Mexico and the acquisition of properties in restricted zones, this law may be beneficial to foreigners. By ensuring equal treatment, the Calvo Clause provides foreign buyers with a sound legal basis when entering into real estate transactions in Mexico.
However, the Calvo Clause establishes that foreigners may not purchase parcels of land or ejido land, or any property located in the restricted zone. The restricted zone comprises a 100 km strip along Mexico's borders and 50 km wide with respect to the coasts and beaches.
In this scenario, and through a trust, it is possible for a foreign person to purchase a property located within the restricted zone. In simple terms, the trust allows another person to manage your property for a determined period of time and according to pre-established conditions. With different types of trusts regulated by the General Law of Securities and Credit Operations, their main objective is to facilitate the purchase and management of properties, avoid potential conflicts and be part of new businesses.
The trustees of credit institutions must file the corresponding applications with the Ministry of Foreign Affairs (SRE) to obtain the necessary permits.
Remember that foreigners can buy a house in Mexico, as long as a prior permit is obtained that clearly establishes the property as a trust and not a fully owned property of the foreigner.
The seller is responsible for covering the ISR (Income Tax) and declaring the sale of the property. As for the foreign buyer, the taxes to be paid do not present significant changes. You will have to comply with ISAI (Impuesto Sobre Adquisición de Inmuebles) and IVA (Impuesto al Valor Agregado) payments. In addition to the taxes, it is important that you consider notary fees, deed expenses, fees and rights. Our team of experts can advise you every step of the way to avoid setbacks and surprises in your process. Contact us at Contact us at and find out how to do it.
We recently published an article dedicated to this topic; Top 7 places to live in Mexico as a foreignerVisit it and get all the detailed information about each destination.
Buying property in Mexico as a foreigner can be a rewarding experience, but it is important to be aware of the legal, financial and immigration issues involved in the process. At Nolab we have a group of specialists ready to help you throughout your shopping experience. Contact us and find out how to achieve it.
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Alfredo Obregón is the co-founder and CEO of Nolab, a real estate platform focused on investment, sales, and property management across international markets.
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