Buying real estate in Mexico does not automatically mean acquiring a residence permit on this basis. To obtain a residence permit, the price of real estate must be definitely high. First, you need to come to Mexico as an ordinary tourist, choose housing, complete the purchase, most often through the creation of a bank trust, then return to your homeland, obtain a resident visa at the Mexican consulate, come to Mexico again, and then create a residency status.
Below we will answer key questions regarding the acquisition of a residence permit through the purchase of real estate.
What should be the cost of the purchased property to acquire a residence permit in Mexico?
The property must cost at least MXN 10,758,500 — Mexican pesos (2026). This is approximately equivalent to $598,000.There may be one or more real estate objects, but all of them must be registered under the same owner. The minimum required property value is expressed in Mexican pesos, therefore the dollar exchange rate does not affect it.
If the value of the property is less than the specified value, you will not be given a residence permit based on its ownership. Then, to obtain a residence permit, choose some other option. There are still other options for obtaining resident status in Mexico, which are simpler and do not require a lot of money.
Is it possible to own property in Mexico without being a citizen or at least a resident?
Yes, there is a possibility. In matters of property rights, non-residents have equal rights with Mexicans. You have the right to buy, sell, donate, pledge and even exploit real estate purchased in Mexico. But in the latter case, taxes for foreigners are significantly higher than for residents.
If you are afraid to buy real estate as a guest of the state, act differently. Obtain residency status in Mexico on some other basis, such as bank savings, and then go ahead with the purchase. The time and cost of the procedures will be approximately the same.
Is it necessary to open a bank trust to purchase real estate in Mexico?
The answer depends on where the property is located.
Even if you have resident status in Mexico, you are still a foreigner to Mexico. The law prohibits foreigners from buying real estate within the «limited» zones. This is a strip of land 100 km wide from the land border and 50 km — from the sea coast. The only legally prescribed mechanism for purchasing real estate in «limited» zone for foreigners — through the opening of a bank trust. You open a trust. The bank, on behalf of the buyer, buys the property and registers it in the name of a trust, which will own the ownership of the property. A foreign citizen becomes a trustee and has the right to dispose of property. Essentially, a trust gives the foreigner the same rights as direct ownership. When you sell a trust, you are selling real estate.
The same applies to the purchase of land plots for residential development with an area of up to 0.2 hectares. If the area of the plot is larger, the purchasing technology will be different.
If a foreign citizen buys real estate outside the «restricted» zone, there is no need to create a trust, and the purchase mechanism itself is exactly the same as for Mexican citizens.
There is nothing complicated about buying real estate through a bank trust. Registration support is provided by many real estate companies and developers, as well as lawyers, notaries and banks. The cost of opening a trust and the annual payments for its maintenance are relatively low.
How can you obtain a residence permit in Mexico after purchasing real estate?
You must leave Mexico and contact a Mexican consular office in any country in the world to apply for a resident visa. Documentation for real estate purchased in Mexico must be submitted to the consulate. The consular department will issue a resident visa, with which you again need to enter Mexico and contact the migration service to exchange the resident visa for a resident card. The resident card is proof of your residence permit in Mexico. The residence permit will be temporary; after 4 years you can change it to a permanent one, and after another year you can apply for citizenship.
All family members of the property owner are also entitled to a residence permit. They are able to obtain a resident visa at the consulate together with him or a resident card already in Mexico, immediately after acquiring a residence permit by the owner of the property.
Are they able to refuse to obtain a residence permit if the price of the property meets the criteria?
No, they don't have the opportunity. Theoretically, you have the right to be refused due to incorrectly prepared documents or a violation of the deadline for applying to the Mexican migration service, but this is already a matter of more thorough preparation.
Should I prove the origin of the money when buying real estate in Mexico?
No, not required.
Does owning real estate in itself give you an advantage when entering Mexico?
Owning real estate without obtaining a residence permit in Mexico does not provide any advantages when entering the country. You continue to enter Mexico as a regular traveler, for which you definitely need a return ticket. Perhaps instead of housing reservations, real estate papers will do. But the migration service will consider that you purchased the property for a commercial purpose, which means you are required to become a resident and pay taxes. For this reason, if you are not a resident of Mexico, but indicate upon entry that you own real estate in the country, with a high degree of probability you will be given an authorized period of stay not of 180 days, but much less, in particular, 2 weeks or a month.