Information About Bank Trust For Real Estate Or Fideicomiso
Can a non Mexican buy real estate through a bank trust or fideicomiso
Any Foreigner(s) or Mexican National can constitute a Fideicomiso (the equivalent to an American beneficial trust) through a Mexican Bank (i.e. HSBC, Bancomer) in order to purchase Real Estate anywhere in Mexico, including the Restricted Zone. To do so, the buyer (Foreigner or Mexican National) requests a Mexican bank of his/her choice to act as a trustee on his/her behalf.
The Mexican Bank, as a matter of normal course, obtains the permit from the Ministry of Foreign Affairs to acquire the chosen Real Estate in trust.
The Fideicomiso can be established for a maximum term of 50 years and can be automatically renewed for another 50 year period. During these periods you (the foreigner) have the right to transfer the title to the Real Estate to any other party, including a member of your family.
The Mexican Bank becomes the legal owner of the Real Estate for the exclusive use of the Buyer/Beneficiary who has all the benefits of a direct owner, including the possibility of leasing or transferring his/her rights to the Real Estate to a third party or to a pre appointed heir. During this period, the Foreigner is considered a Mexican National.
The Trustee is responsible to the Buyer/Beneficiary to ensure precise fulfillment of the trust in accordance to Mexican Law, a ssuming full technical, legal and administrative supervision in order to protect the interests of the Buyer/Beneficiary. Please note that Fideicomiso (bank Trust) are not held by the Trustee as an asset of the Mexican Bank.
For practical purposes, even in unrestricted zones many Foreigners and Mexican Nationals, for that matter, prefer to hold their Real Estate under a Fideicomiso.
The Mexican Bank, as a matter of normal course, obtains the permit from the Ministry of Foreign Affairs to acquire the chosen Real Estate in trust.
The Fideicomiso can be established for a maximum term of 50 years and can be automatically renewed for another 50 year period. During these periods you (the foreigner) have the right to transfer the title to the Real Estate to any other party, including a member of your family.
The Mexican Bank becomes the legal owner of the Real Estate for the exclusive use of the Buyer/Beneficiary who has all the benefits of a direct owner, including the possibility of leasing or transferring his/her rights to the Real Estate to a third party or to a pre appointed heir. During this period, the Foreigner is considered a Mexican National.
The Trustee is responsible to the Buyer/Beneficiary to ensure precise fulfillment of the trust in accordance to Mexican Law, a ssuming full technical, legal and administrative supervision in order to protect the interests of the Buyer/Beneficiary. Please note that Fideicomiso (bank Trust) are not held by the Trustee as an asset of the Mexican Bank.
For practical purposes, even in unrestricted zones many Foreigners and Mexican Nationals, for that matter, prefer to hold their Real Estate under a Fideicomiso.
Bank Trust Video Information
Provided by BBVA Bancomer (Mexican Bank)
