Mexican Economy is poised for great take-off shortly. Elaborating few points to ponder over:

In Mexico, there are areas restricted from direct foreign ownership of property. These typically lie within 100 kilometers of borders and 50 kilometers of coastlines. To acquire property in these zones, foreigners establish a trust account known as a fideicomiso.

Here's how the trust account structure works:

• Parties Involved:
  • Settlor (Beneficiary): You, the foreign property buyer.
  • Bank (Trustee): A Mexican bank authorized to hold fideicomisos. They hold the legal title to the property.
• Agreement: A trust agreement outlines the rights and responsibilities of each party.
• Ownership Rights: While the bank holds the title, you have all the rights of ownership. You can use, rent, sell, or inherit the property.
• Control: The bank cannot sell or dispose of the property without your written consent.
• Security: The trust structure safeguards your investment and ensures a clear chain of ownership.
• Inheritance: You can include your family members and children as part of the trust so that there are no issues in transferring the property to rightful owners in the way specified by you after you are gone.
• Long-Term Flexibility: The trust typically has a 50-year term, but it's renewable indefinitely.

Additional Points:

• You'll need a permit from the Mexican Foreign Relations Secretary.
• The bank charges annual fees for managing the trust.

In essence, the fideicomiso allows you to enjoy the benefits of property ownership in Mexico's restricted zones while complying with the legal framework.