How do foreigners own properties in
the restricted zones of Mexico?
Foreigners can own property in Mexico’s restricted zones which include areas within 50 kilometers (31 miles) of the coast and 100 kilometers (62 miles) of an international border through two main legal mechanisms:
1. Fideicomiso (Bank Trust)
A fideicomiso is a bank trust that allows foreigners to own property in the restricted zones while complying with Mexican law. Here’s how it works:
- A Mexican bank holds the title to the property in trust on behalf of the foreign buyer.
- The foreigner is the beneficiary of the trust and has full ownership rights, including:
- The right to sell, lease, renovate, or pass the property to heirs.
- The trust is renewable every 50 years and can be transferred or inherited.
- The bank acts only as the trustee and has no control over the property.
- A fideicomiso typically costs between $500–$1,500 USD to set up, with annual fees around $500–$700 USD.
2. Mexican Corporation (For Commercial Property)
If a foreigner wants to invest in commercial real estate (e.g., hotels, rental properties, or business premises), they can set up a Mexican corporation:
- The corporation must have at least two shareholders, but both can be foreign individuals.
- The company owns the property outright, meaning there is no need for a fideicomiso.
- The property must be used for business purposes, not as a primary residence.
- The foreign owner must comply with Mexican tax laws
and corporate regulations.
Key Considerations for Foreign Buyers:
- Legal Assistance: Hiring a Mexican real estate attorney is recommended to navigate contracts and ensure compliance.
- Permits: Foreigners must obtain a permiso de compra
from Mexico’s Foreign Affairs Ministry. - Closing Costs: Expect closing costs of about 5%–7% of the property value, including taxes, notary fees, and trust setup.
Taxes: Foreigners selling property may be subject to capital gains tax (ISR).
Buyer Support for Real Estate Properties at Laguna
Shores Resort
The Real Estate Department is led by Wayne Corcoran, a licensed agent and broker, with the support of Yara Jimenez, a real estate agent and assistant. Our team is dedicated to understanding your needs and finding the best properties to match your requirements. We provide expert guidance on key considerations for foreign buyers, ensuring a smooth and informed purchasing process. Additionally, we offer support throughout your building journey, connecting you with experienced contractors to bring your vision to life.
Beyond the purchase, we help you integrate into the community, assisting with the HOA transition and ensuring you feel at home. For more details, visit the Real Estate section of our website. For all Laguna Shores listings available for sale check out our website, lagunashoresresort.com Need information on real estate, check out our real estate report. For more information to visit us, check our Travel Guide lagunashoresresort.com/travel-guide/
Benefits of owning a property in Laguna
Shores Resort
Owning property in Laguna Shores Resort, Puerto Peñasco, Mexico, offers several advantages, making it a great option for investors, vacation home buyers, and retirees. Here are some key benefits:
1. Prime Beachfront Location
- Lagoon and Ocean Views: Properties in Laguna Shores Resort offer stunning
views of the Sea of Cortez, with direct access to beaches and tidal pools. - Tranquil & Exclusive: Unlike the busier hotel zones in Puerto Peñasco, Laguna
Shores is a low-density, master-planned community providing a peaceful and
private atmosphere. - Because the resort is uniquely located facing west to the sea of Cortez, north to an estuary and view of El Pinacate with the east boundary of coastal highway 8, from Sonoyta to Puerto Peñasco. Being only 15 minutes from Puerto Peñasco, providing a very unique and secure community environment.
- The resort has underground services which include electricity, water from its own desalination plant, and a high end sewer treatment plant.
2. Investment Potential & Appreciation
- Growing Market: Puerto Peñasco is experiencing significant growth in tourism
and real estate. Property values in the area have been rising steadily. - Rental Income: Due to its location and resort-style amenities, owners can
generate passive income by renting out their property as a vacation rental. Many owners have built second and third homes due to income made by vacation rentals.
3. Resort-Style Amenities
- On-Site Services & Activities: Residents enjoy access to over 30 amenities which include:
- Infinity pools & jacuzzis
- Fitness center & spa
- Tennis & pickleball courts
- Kayaking, paddleboarding, and biking
- Restaurant & bar
- Gated security & concierge services
- Eco-Friendly Design: The resort is designed with sustainable practices, including solar energy options.
For more information on the restaurant and amenities visit the Laguna Shores website.
4. Affordable Ownership & Lower Cost of Living
- Lower Property Costs: Compared to similar beachfront properties in the U.S., Laguna Shores offers affordable prices with financing options.
- Lower Taxes & HOA Fees: Property taxes in Mexico are significantly lower than in the U.S. and Canada. HOA fees cover maintenance, security, and common area upkeep.
- Cost of Living: Daily expenses, utilities, and services in Puerto Peñasco are much more affordable than in the U.S.
5. Foreign-Friendly Ownership Options
- Fideicomiso (Bank Trust): Foreign buyers can easily own property in Laguna Shores through a fideicomiso (bank trust).
- Secure Investment: The resort is a well-established, reputable development, reducing risks associated with buying property in Mexico.
6. Easy Access from the U.S.
- Short Drive from Arizona: Laguna Shores is about a 4-hour drive from Phoenix or Tucson, making it one of the most accessible beach destinations for U.S.
residents. - International Airport Nearby: Puerto Peñasco has an international airport, with plans for expanded flight options in the future.
NEW OWNER REFERENCE ESSENTIALS
ESSENTIALS
- Please use our red owner wristbands for the first time you visit so employees and security can recognize you as a new owner. After a few visits they will get to know you and there will be no need to use a wristband.
- You can get your owner key for the owner gate with Rodolfo HOA President for a cost of 20 dollars.
- If you are expecting visitors to your home, please email our Security department at securityguards@lagunashoresresort.com, the front desk at
frontdesk@lagunashoresresort.com and copy our HOA president rodolfohoa@lagunashoresresort.com with the number of guests and a name so your guests have fast and easy access to the resort.
TO PAY YOUR BILLS:
CFE:
- You can pay your electricity directly at the office. To pay online visit www.cfe.mx where you can find more information
HOA:
- Call the office and let the operator know you are a real estate owner and want to pay your HOA. MX 638 383 0210 Ext 522 or 532 / USA 1 800 513 1426 Ext 532.
- Your HOA starts the month your house is delivered to you or the month you
purchase your lot. - You can pay cash, with a credit or debit card or a wire transfer. HOA is collected monthly, quarterly, or annually ahead of time to avoid late fees such as penalties and interest.
- If you pay with a check please pay to the order of: HOA Laguna Shores AC
You must write the check without errors or scratches exactly like shown above to avoid the bank rejecting the check. Mail your check to our P.O Box 1740 Lukeville AZ, 85341. - Contact the HOA for the annual fees.
Taxes:
- Taxes for your lot are paid directly at the office in town, or you can also contact
Rodolfo Irineo HOA for assistance.
Rules given to all guests and owners
- Attached is a full copy of the basic rules, if you want the CC&Rs we can email
them to you. The rules are intended to help maintain the resort’s peaceful and
family oriented environment that our buyers are purchasing.
