You can own a home in Mexico

Navigating Homeownership in Puerto Vallarta: A Non-National's Journey

Hey fellow dreamers! So, you're like me, captivated by the beauty of Puerto Vallarta and thinking, "Why not own a piece of this paradise?" Here's the lowdown on how a non-national, just like us, can make it happen in those tricky restricted zones.

Cracking the Restricted Zone Code:

First things first, let's talk restricted zones. Picture a perimeter around 50 kilometers from the coastline and 100 kilometers from international borders. These are the protected zones. But fear not – we've got options!

The Fideicomiso Magic:

Enter the Fideicomiso, my friend. It's like a key to the kingdom. In simple terms, it's a trust held by a Mexican bank. They keep the title safe, and you? Well, you get to call the shots as the owner. It's the go-to move for us non-nationals eyeing those restricted gems.

Let's Break it Down:

1. Finding Your Notary Sidekick:

You need a sidekick, and that's your notary public. Find one who knows the ropes and will guide you through the legal dance.

2. Fideicomiso Unleashed:

Head to your chosen bank and set up that Fideicomiso. They handle the technicalities, and you? You're the VIP owner.

3. Paperwork Party:

Gather your ID, income proof, and property deets. Hand them over to your notary and bank buddies. They've got your back.

4. Thumbs Up from the Big Shots:

Once your Fideicomiso is in play, it needs a nod from the Ministry of Foreign Affairs. After that? Well, get ready to pop the metaphorical champagne because you're officially a property owner!

Watch Your Wallet:

Of course, there's some spending involved:

- Notary fees (Yep, they want their share.)

- Bank fees for the trust (But hey, it's your security blanket.)

- Government acquisition tax (The price of paradise, my friend.)

Why Fideicomiso Rocks:

- Non-nationals, like us, get secure ownership.

- Inheritance? Transfer rights? Yep, it's got that covered.

- Want to sell or rent? You're the boss.

Friendly Advice:

Talk to the legal eagles specializing in non-national real estate dreams. They'll make sure your journey to paradise is as smooth as a margarita on the beach.

Closing Thoughts:

Owning a slice of Puerto Vallarta as a non-national? Totally doable, and oh-so-rewarding. With the Fideicomiso dance and a bit of expert advice, you'll be living the dream in this Mexican wonderland. Cheers to making it happen!

Will Hutt

Coldwell Banker La Costa

Will.Hutt@cblacosta.com

Instagram @BeachPleasePVR