What does a foreigner need to buy a property in Oaxaca in the restricted zone? | SILMEXICO

LLMI. Jessica Hernández
Business -Consulting -Investment
dolores@silmexico.com
Instagram: Dolores  Perezi
Facebook: Dolores Pérez Islas

 

If you are a foreigner and you want to invest in a property in Oaxaca, here is important information for you about the documents you should present for the purchase-sale process.

Foreigners have the right to acquire a property in Mexico no matter if they have or not the Mexican residence.

For real estate transactions with foreigners, in Mexico, there exists a restricted zone which is a strip of 100 km along the land borders and 50 km along the beaches. However, a lot of people do not know that as foreigners it is possible to acquire a property in Mexican territory inside the restricted zone. This can be done through a trust or the constitution of a Mexican enterprise. The Mexican system allows people from other countries buy a property and gives them great protection.

To acquire real estate in restricted zones, foreigners must acquire the property through the constitution of a bank trust formalized with a Mexican Banking Institution. As a buyer, you will be designated as the primary beneficiary.

 

 

Another option to buy properties in the restricted zone is by constituting a Mexican company. The enterprise should be property of foreigners and should be administrated by them. It needs to be constituted under the Mexican law, even if its stockholders, members and offices are foreigners. This Mexican company can buy properties in a direct way in the restricted zone.

Well, this is talking about the restricted zone, however, when it is not the case the situation changes. For those who want to acquire a property which is not restricted zone what is mainly necessary is a document issued by the Secretary of Foreign Affairs, which is the Waiver Agreement for the Acquisition of Properties out of the Restricted Zone. Which was already explained in the article Acquisition of Properties in Mexico by Foreigners.

If you are thinking in acquiring a property in Oaxaca, contact us, our specialized team will guide you in the process. SilMéxico is a consulting in real estate which offers integral services; enterprises constitution, trusts, in addition, we count with a legal, accountable and construction area for those who look for developing in Oaxaca.

Preferential places to live in Oaxaca | SILMEXICO

LLMI. Jessica Hernández
Business -Consulting -Investment
dolores@silmexico.com
Instagram: Dolores  Perezi
Facebook: Dolores Pérez Islas

 

The state of Oaxaca is without a doubt a dream destination, not only for vacationing but also for living. The mix between its gastronomic diversity, flora and fauna, its traditions and archaeological sites positioned it within UNESCO, granting it the title of Cultural Heritage of Humanity since 1987.

It is well known that more and more nationals and, above all, foreign populations are moving to live here. According to data released by INEGI, in the last five years, the largest foreign population that entered the state is from the United States (17.7k) and Canada (163 people). Among the reasons for which they immigrate to the country are family first, work second, legal third, personal fourth, and lastly economic and educational.

Regarding family reasons, it is because most of them already have family residing in the State for a long time.

Now, in this article, we will talk about the areas that the population prefers and positions as the best places to live in Oaxaca.

 

 

San Andrés Huayapam

Cradle of the ancient drink called “the drink of the gods” the “tejate”, and located just 13 km from the city of Oaxaca, this community is surrounded by nature, where you can enjoy serene afternoons admiring from your home the mountains of the northern sierra, and where you can also appreciate the views offered by its two dams, its river and other waterfalls that form in the rainy season. Every year the famous “Tejate Fair” takes place in the town, which attracts hundreds of locals and foreigners to taste the exquisite drink. Definitely a highly demanded place to live due to the tranquility it offers.

Colonia Reforma

Located to the north of the city, the Reforma neighborhood is in demand by those who like modern life and nightlife, because here you will find shopping malls, stores, and nightlife centers. On this site there are houses of modern and sophisticated style. An excellent option to live, since it is located near the historic center.

Jalatlaco

The iconic Jalatlaco neighborhood, ranked as the most beautiful in the city, is undoubtedly a place that will leave you amazed. Walking through its cobblestone streets and seeing its quarry and adobe buildings transport you to colonial times. Its beautiful facades decorated with murals made by local and national artists invite you to take thousands of photographs. It is a quiet and central place, full of colors, traditions and culture. Ideal for those who love to be in contact with traditions and who enjoy being outside the bustle of the city. Nothing is missing from this neighborhood; you can find everything from local shops to large restaurants and cafes. Let yourself be surprised by its architectural beauty and the warmth of its inhabitants.

Xochimilco

Renowned for its beautiful arches dating from the 18th century, this neighborhood is located just a few minutes from the historic center of Oaxaca. In it you can find different types of restaurants and artisan shops. Its cobbled and colorful streets are perfect for enjoying pleasant afternoon walks. The style of the houses in this place is totally an architectural jewel, since old houses and colonial mansions are still preserved.

Talixtac de Cabrera

Located 10 km from the city, this community borders Santa María El Tule and San Sebastián Tutla. It is a quiet place, away from the hubbub that characterizes the city. The houses in this place are spacious, with large gardens and some with swimming pools, in addition, they offer beautiful views of the mountains that surround the central valleys. It is ideal for those who prefer serenity and contact with nature.

Historic center

The historic center is also one of the favorite places for foreigners to live. This logically due to the proximity to the different attractive sites; museums, restaurants, banks, entertainment venues, galleries, and many more businesses.

Due to the high demand, unfortunately, there are fewer and fewer properties on the market in this area. Well, the architectural structure of its buildings, mostly old, as well as the hubbub of its traditions, and its exquisite gastronomy, make foreign visitors fall in love with it, who either for family, work or personal reasons come to the city, decide to reside here.

If you wish to get more information about properties for sale and rent in these areas, do not hesitate to visit any of our offices located at Xicoténcatl 120, Centro and at Sabinos 711, Col. Reforma. SILMEXICO, the experts in Real Estate.

Written by: Jessica Hernández

Kinds of properties in Oaxaca | SILMEXICO

LLMI. Jessica Hernández
Business -Consulting -Investment
dolores@silmexico.com
Instagram: Dolores  Perezi
Facebook: Dolores Pérez Islas

Oaxaca is a state rich in culture, traditions and ecosystems that attract thousands of tourists each year, it is a state that offers multiple investment options in real estate, being a very profitable option for local and mainly foreign investors. In Oaxaca there are different types of properties that you should consider and that your real estate agent should advise you before making a formal purchase offer.

If you are close to acquiring a property in the state, here we show you the different types that you can find and their characteristics.

Private: according to article 4 of the first chapter of the Law of assets belonging to the State of Oaxaca, those that currently belong to it as property or that in the future will enter into its patrimony are property owned or owned by the State Government. To the Law and vacant property. And, according to article 18º in the third chapter of the Private Domain Real Estate, the private domain assets belonging to the State patrimony, can be the object of all the contracts regulated by common law.

The owners of said private property have full legal power, to use it for the purpose they wish, either for their leisure or to give it a purpose of economic exploitation.

 

Ejidal: according to article 43 of the Agrarian Lawlands belonging to ejidos and therefore subject to the relative provisions of this law are those that have been endowed to the ejido population center or incorporated into the ejidal regime. That is to say, these do not have a single owner, they belong to the government, since they are lands lent to peasants, who have permission to work them. Likewise, in article 45 of the same, it is mentioned that these may be the object of any association or use contract entered into by the ejido population nucleus or titular ejidatarios.

It is important to note that ejido lands have their origins in the Mexican Revolution, this to ensure that the neediest rural population had access to land to cultivate and live. With the passage of time, the agrarian law has undergone reforms in order to benefit the peasants, until today it has fewer restrictions, thus allowing the peasants to make use of the land for free sale in the market.

Comunal: they are lands that do not belong directly to the exploitation and in which communal rights apply. These are owned by the state, autonomous community or neighboring entities. Its control is exercised by the assembly of community members, elected by the traditional authorities of the community.

 

If you are planning to invest in a property in the state and you are not sure what type it is, contact a real estate expert to have the information on the property, you can contact us to help you throughout the buying and selling process, SILMÉXICO is an expert real estate company that has all the necessary areas to carry out a successful sale.

If you are a foreigner and want to invest in Mexico, contact us to find out about the processes for acquiring real estate in Mexican territory, as well as the property options that we have exclusively for purchase and rent.

If you are an investor, we have the best real estate consultancy in Mexico, we create trusts, companies and strategies to successfully carry out a real estate investment.

 

Visit our website and contact us.

www.silmexicooaxaca.com