Where Is The Restricted Zone In Mexico?

1. The restricted zone mainly comprises within the 50 km of the coastline and 100 km from the borderline. Puerto Vallarta, Acapulco, Los Cabos and Riveria Maya Coastal area and the border area especially of Guatemala, United States of America, and Belize are termed as the Restricted Zone in Mexico.

2. Before jumping into the present scenario in Mexico, let's focus on the birth if this restricted zone. In the eras of 1800, Mexico Government supported the immigration from the other stated and they had permission to buy real estate in Mexico. A decree of Colonization was established to help the immigrants. However, the order poorly affected for the natives of Mexican. Invasion from the other states was increasing rapidly, and it was threatening for the Mexican. The Mexican government abolished the law and created a new law in the year 1917 which prevents the foreigners to acquire real estate in Mexico. The Mexican government has given preferences to the Mexican first to acquire possessions in the restricted zone. However, there are a few ways the foreigner can appeal legally for purchasing land in that particular land.

3. Top Things foreigners need to consider before purchasing land in the restricted zone The dream home on a beach area is the dream for many people as the country is much cheaper to invest in the land possessions. However, most people prefer the coastal area to buy a new home as they can use for both private and commercial purposes. A foreigner who wants to purchase a real estate in the Restricted Zone, they need to consider some crucial things before buying a property. The elements are listed below:  Expert agents: One of the essential things a foreigner should focus on is the trustable agent as they can give expert advises before purchasing the properties.  Revenues and other expenses: Knowledge about the taxation process and the expenses of the places are required to know before planning to buy property in Restricted Zone. The costs can come from the management fees, maintenance fees, Annual taxations, HOA fees and utility fees.  Legal factor: Purchasing luxury apartments requires a trustable source for getting certification from the bank. Therefore, you need to go through the legal aspects of flats before buying in this resort city.

4. Ways of Owning Property There are two ways a foreigner can try to purchase a property in the restricted zone. The two important forms of owning property are:  Fideicamiso: The Fideicamiso or the bank trust is one of the crucial ways of buying a property for a foreign person. However, this law is not meant for the local people as they have a natural process to buy a home in the restricted land. In this law, the bank requests the foreigner to bring a trustable source who can work as the trustee for the bank. The bank works as the legal owner of the property. The trust is granted for 50 years, and it is renewable agreement.  Mexican Corporation: The Mexican Corporation helps the immigrant as well as the foreign person to buy or sell the property in the Restricted Zone as well as in other parts of the country. There is two type of Mexican corporation. They are Limited Liability Corporation and Limited Liability Partnerships. For more Details Via Capitale Puerto Vallarta Real Estate agency 242 Aquiles Serdan, Local 1 Condominio Posada Rio Cuale, Colonia Emiliano Zapata City- Puerto Vallarta State- Jalisco Zip Code- 48380 Country- Mexico Phone no: +52 (322) 226-2690, (310) 683 0051 Email: tere@viacapitalepv.com/info@viacapitalepv.com https://www.viacapitalepv.com/ https://twitter.com/ViaCapitale https://www.facebook.com/viacapitalepuertovallarta/