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strats

11-17-2004 12:42 AM

coastal mexico property. (looking)

Hello..

.. Can anyone reccomend/direct to me a place to find oceanfront/ocean view property in mexico? There is one condition: The property must have a cleanwater creek/small river running through it and be hillside out of town.

Now Im not sure the degree of internet access in mexico. Very doubtful there is property with high speed internet, but if someone knows, is a plus.

also don't know zoning conditions in mexico. All help is appreciated.

escorpio

11-17-2004 12:46 AM

Foreigners can't own border or coastal property. You have to have it held in trust.

xenigo

11-17-2004 12:49 AM

Going from a tent, to ocean front property... hmm... I smell coughBULLSHITcough. :helpme

JulianSosa

11-17-2004 01:00 AM

Quote:

Originally posted by strats
Hello..

.. Can anyone reccomend/direct to me a place to find oceanfront/ocean view property in mexico? There is one condition: The property must have a cleanwater creek/small river running through it and be hillside out of town.

Now Im not sure the degree of internet access in mexico. Very doubtful there is property with high speed internet, but if someone knows, is a plus.

also don't know zoning conditions in mexico. All help is appreciated.

Spendy you got bucks?

maja	11-17-2004 02:13 AM

Quote:

Originally posted by escorpio
Foreigners can't own border or coastal property. You have to have it held in trust.

jackin this thread.
yeah, there are companies that can do that for you. and am i wrong but you only get it for 99 years??

strats

11-17-2004 02:16 AM

http://www.transcaribbeantrust.com/mexico.html

Quote:

Yes, non-Mexicans can legally own ocean front property in Mexico.

Here is a summary of how it works:

The Mexican Constitution restricts ownership of coastal real estate (31 miles inland from the water) to only Mexicans. To attract foreign investment, the Mexican Government passed into law in 1994 a very important bill which recognizes a Mexican Corporation as the legal entity fulfilling the Constitutional requirement for Mexican ownership. And at the same time, the law allows for non-Mexicans to totally own the Mexican Corporation.

You own your Mexican Corporation.
Your Mexican Corporation owns your ocean front real estate.
You own your ocean front real estate, complete with a legally registered title.
Safe and Simple.

The Mexican Government welcomes foreign investment in Mexico and has made the process very easy. Revenues from foreign investment and tourism are the leading source of income for Mexico.

escorpio

11-17-2004 02:33 AM

From http://www.mexonline.com/propmex.htm

The Mexican Constitution prohibits direct ownership of real estate by foreigners in what has come to be known as the "restricted zone." The restricted zone encompasses all land located within 100 kilometers (about 62 miles) of any Mexican border, and within 50 kilometers (about 31 miles) of any Mexican coastline. However, in order to permit foreign investment in these areas, the Mexican government created the "fideicomiso," (FEE-DAY-E-CO-ME-SO) which is, roughly translated, a real estate trust. Essentially, this type of trust is similar to trusts set up in the United States, but a Mexican bank must be designated as the trustee and, as such, has title to the property and is the owner of record.

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