Yes! Foreigners can own property in Mexico and they have been able to for many years now.

Property may be purchased and owned outright for residential use by foreign nationals outside of the 100km restricted land border zone, or outside of the 50km coastal zone. Inside of the restricted border/coastal zones, foreign nationals may own land through a fidecomiso (a trust), which is set up through a bank and provides for ownership of the land and property in all but name.

The Government introduced a system of land trusts, so that foreign nationals could invest in property inside of the 'restricted' zones. So now, if you as a foreigner, want to own a dream home with a Caribbean beach view, you can, except that it will be by means of a trust, set up through one of the main banks in Mexico.

The trust holds the deeds to the property, and you and/or other named persons whom you specify are sole beneficiaries to the trust (and therefore the property). You have full rights to do whatever you like with your property: it can be developed (in accordance with local planning regulations), rented, leased, sold, or given away. In other words, you own the property in all but name.

The trust enables you to name a beneficiary upon your death, and you do not need to have a Mexican Will in order for your wishes in regard to the trust to be executed.

You do not have to be resident in Mexico to own property here, so there is no need to qualify for resident status under immigration laws in order to have a property investment in Mexico.

Mexican Law on property ownership is comprehensive and provides protection for the seller and the buyer in all property transactions, provided that the law is followed, and you ensure that all necessary documentation is present and that the procedures are adhered to. Your Remax sales agent, Mexican attorney and your Notary Public are important people in this process, and they will guide you through.