FAQ
1. How can I speak with a Real Estate agent?
As easy as just picking up the phone or email us, we will be happy to assist you.
2. How does it work?
As a foreigner what do I need to know about ownership in Riviera Maya.
The process to buy a property as a non-mexican is like the US and Canada with the difference that the buyers need to obtain a permission from the Mexican Secretary of Foreigner Relations to establish a “Fideicomiso” (Bank Trust).
The fideicomiso or bank trust allows foreign buyers to purchase property in the restricted zones of Mexico. The restricted zone is 100 kilometers (62miles) from any national borders and 50 kilometers (31 miles) from the coast. There are three parties involved with the fideicomiso: The bank, the buyer, and the seller. The buyer is the beneficiary of the bank trust, it can be a single person, a couple a business or a group of people. The buyers have the rights that go with the property, they can rent it, remodel, sell it or leave it as part of their estate. And finally, the Mexican Bank or trustee, working in good faith for the buyer, the bank holds the title of the property but does not have the rights to make any decisions on the property, and the property is not part of the bank’s assets.
3. Why invest in Riviera Maya?
We can reply with a better question, why not?
An expat survey recently conducted revealed that Mexico is one of the top three countries in the world for expatriates, 9 out of 10 expats living in Mexico are happy with their life. It’s hard to imagine not being happy in the Riviera Maya; with the wonderful climate and the beautiful beaches, it is easy to wake up with a smile on your face every single day.
The ease of travelling between states here in Mexico and from other countries had set new records. In 2021 Cancun Airport was one of the busiest international airports in the world and the state can break tourism records with over 6 million visitors expected in the beginning months of this year. With this information, it’s safe to assume that the condos and hotels in Riviera Maya will be full until summer of 2022
4. What are the risks of investing as a foreigner?
As a foreigner, you are not only authorized to own a property in Mexico, but the Government have also made this process easy and safe. So, the risk is very little if any, it is usually tied to who you do business with rather than the process itself.
5. What options do I have for property maintenance and management when I’m not in Mexico?
The importance of taking care of your property when you are not in the country is extremely important and the surplus value of your investment depends on IT.
NA Property Management has years of experience in the local market offering property preservation with full transparency.
While you can manage your property on your own, we strongly recommend you place your trust in our company to ensure your investment is well cared for.
