Stop buying property in Mexico through a Fideicomiso (Bank Trust). Claim your dual citizenship first.
I see this happen way too often in real estate groups, and it drives me crazy.
Mexican-Americans who want to buy a retirement home, an investment property, or just a family house in Mexico (especially near the border or the beach) end up going through the Fideicomiso route because they think they are only US citizens.
If you don't know, a Fideicomiso is a bank trust that foreigners must use to buy property in the "Restricted Zone" (within 50km of the coast or 100km of the border). You have to pay setup fees, annual bank fees, and deal with extra bureaucracy.
But if you have at least one Mexican-born parent, you are likely already eligible for Mexican citizenship by descent.
If you claim your dual citizenship before you buy property:
* You can buy land outright, anywhere in Mexico, in your own name.
* No bank trust fees.
* No foreign buyer restrictions.
* Much easier inheritance process for your kids later on.
The cost of getting your dual citizenship sorted out (even if you hire a service to do it for you) is almost always cheaper than the setup and annual fees of a Fideicomiso over time. Plus, you get a second passport out of it.
Has anyone here successfully bought property in the restricted zone after getting their dual citizenship? How much of a headache did it save you compared to your foreign friends?