Imagine waking up to the sound of the waves, stepping onto your balcony to a breathtaking ocean view, and feeling the warm Baja California sun on your skin. Owning property in places like Rosarito Beach, Mexico is a dream for many, and we’re here to tell you that this dream is absolutely within reach, even for those who aren’t Mexican citizens.
One of the most common questions we hear from international buyers is, “Can foreigners truly own property in Rosarito Beach, Mexico?” The answer is a clear and confident YES! While Mexican law has provisions regarding property ownership in what’s known as the “Restricted Zone” – areas within 100 kilometers of the borders and 50 kilometers of the coastline (which includes beautiful Rosarito Beach) – the legal framework in Mexico is designed to allow foreigners to safely and securely own real estate in these desirable locations.
The primary legal method for foreigner ownership Mexico in the Restricted Zone is through a Fideicomiso, also often referred to as a bank trust. This isn’t a lease, but a trust agreement established with a Mexican bank. In this arrangement, the bank acts as the trustee, holding the legal title to the property. However, and this is the crucial part, you, as the foreign buyer, are designated as the primary beneficiary of this trust.
What does being the beneficiary mean for you? It means you hold all the rights and privileges of direct ownership. You have the full right to use the property, live in it, rent it out (a popular option for oceanfront property Baja), make improvements, and even sell or transfer the property, or leave it to your heirs, just as you would with property owned in your home country. The bank’s role is essentially that of a trustee, acting solely on your instructions regarding the property.
The Fideicomiso provides a secure and government-approved method for buying property in Mexico in coastal areas like Rosarito Beach. This legal structure has been in place for decades and is a standard part of the buying process Mexico for foreigners. Trusts are typically established for a term of 50 years and are renewable indefinitely, offering long-term security for your investment in Rosarito Beach real estate.
Now, let’s talk about the costs associated with a Fideicomiso. There are typically two main types of fees:
- Initial Setup Fee: This is a one-time cost to establish the trust with the Mexican bank and register the property under the Fideicomiso. The cost can vary depending on the bank and the property value, but generally ranges from around $1,000 to $3,000 USD.
- Annual Fee: There is an ongoing annual fee paid to the trustee bank for administering the trust. This fee also varies but is typically in the range of $500 to $1,000 USD per year.
These costs are a normal part of the foreigner buying property Mexico process in the Restricted Zone and are a small investment for the legal security and full ownership rights you gain over your Baja California properties.
Exploring Rosarito Beach real estate listings opens up a world of possibilities, from stunning condos for sale Rosarito Beach with panoramic ocean views to spacious houses perfect for a vacation home or retirement. With the Fideicomiso, the dream of owning your piece of this vibrant coastal community is not just a possibility, but a secure and achievable goal. Don’t let questions about foreign ownership hold you back from exploring the incredible opportunities in Rosarito Beach and the wider Baja California area.