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Buying Property In Mexico
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Mexican Legislation In Mexico there is what is known as the Restricted Zone. The Mexican Constitution prohibits foreigners from direct acquisition of land and waterways within a distance of 100 kilometers from any frontier and 50 kilometers from any coast. Such regions are known as "Restricted Zones". This means that, for example, the entire Baja California peninsula is in this restricted zone. However, given that most foreigners wish property in the coastal areas, in 1993 Mexico liberated ownership provisions of property in the Restricted Zone and passed the Foreign Investment Law. Outside the Restricted Zone or within Mexico, foreigners can acquire direct ownership and buy any kind of real estate they like. This is as long as they abide by Mexican law and waiver their rights to any foreign government intervention in case of legal conflict. Foreign Investment Law The purpose of the Foreign Investment Law (FIL) is to promote Mexican and foreign investments in Mexico. It was passed with the intention of encouraging fair and balanced development, all the while maintaining the country's economic independence. The FIL specifies the rights and obligations of foreign capital when it comes to investments. FIL and the Restricted Zone: The FIL specifies that by establishing a bank trust (or a “fideicomiso”) foreigners can obtain the rights of ownership of real estate within the Restricted Zone. This also includes property intended for industrial or tourism purposes. These rights of ownership means that foreigners can use, improve, rent or even sell their property as though they directly owned the property. For non-residential or commercial property, another way to invest instead of setting up a bank trust is to buy the property through a Mexican corporation. Depending on the nature of the business, a foreigner can own 100% of the corporation as long as they agree to be subject exclusively to Mexican Law. |
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Baja California Meeting Point 2008
The Baja California peninsula represents an eco-jewel in Mexico's treasure chest of lush vegetation, breath-taking coastal lines and mountainous landscapes. Whether its gray whale watching in the lagoons off Los Cabos or traversing through the Sierra de la Laguna dry forests, this land mass, which extends 1250 km (775 miles) from top to bottom, has been developing it's eco-touristic infrastructure for the past decade with glowing results.
| | Mexico Real Estate Trade Show - 2008
Tradex exhibitions is Mexico's leading organizer of trade and consumer exhibitions with a portfolio of over 10 events. They excel in creating high profile, highly targeted business and consumer exhibitions, where buyers and suppliers can come together to do business.
| | Vacational Real Estate Booming - RCI Report
Vacational real estate in Mexico registered a massive spike in 2007 by growing 46.6 percent and all indicators point to 2008 being an even better year for the sector. According to an industry report commissioned by the vacational rental giant RCI, last year Mexico made up 69 percent of holiday homes that were built in the region which comprises of Mexico, Central America and the Carribean. That figure included 44 master plan developments in diverse destinations all across the nation. Cancun and Los Cabos were the top two cities with the biggest tally of new vacational real estate registering 200 and 80 percent growth respectively, the report stated.
| Master Plan Developments in Playa del Carmen and Riviera Maya
Playa del Carmen is undoubtedly the jewel in the Riviera Maya which stretches from the world famous resort of Cancun to Tulum and the Sian Ka'an biosphere reserve. Originally a humble fishing resort, tourism in Playa del Carmen began as a passenger service to the nearby island of Cozumel which is a hotpsot for scuba diving in the Yucatan Peninsula.
| | Corporate Housing and Executive Suites in Mexico
The biggest appeal of corporate housing or executive suites is that it's a home from home. A lot of business executives who come to Mexico are sometimes here on month-long stays and find the experience of staying in a cramped, sparsely-furnished hotel room that is located on the outskirts of a city unappealing.
| | Buying a home in Mexico, House or Apartment
Apartments, houses, duplex, horizontal condos or townhouses are all available for sale in Mexico. Each has its own advantages and disadvantages as a home.
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