Mexican Corporation
Ownership of property through a Mexican corporation is an interesting and potentially lucrative alternative. As long as there are two or more parties to the corporation, a Mexican corporation can be wholly-owned by foreigners; a Mexican citizen no longer need be part of a Mexican corporation for it to be valid. What's more, a Mexican corporation can own property outright, eliminating the need for a fideicomiso trust and its associated fees. This means that you, as sole owners of the corporation, own the property essentially in fee simple, similar to the U.S.
By establishing the property in a corporation, you can then legally rent out the property, thereby generating attractive income, especially if you are in a prime vacation destination. Mexican corporations are set-up similarly to those in the U.S. and Canada, with by-laws, articles of incorporation, and the issuance of stock. You should discuss the pros and cons of forming a Mexican corporation with an attorney in Mexico who is familiar with this process. It is important to note that Mexican Corporations can only legally be established for property ownership if the property is to be used for commercial or investment purposes, not residential.
Establishing a Mexican corporation for the purpose of purchasing real estate is relatively simple and can be accomplished within 1-2 weeks and generally costs from $1,500-$2,500 U.S., depending on the complexity and the number of partners involved.
Mortgage - If you wish to buy a home but don't have enough to finance the purchase, then a mortgage loan is what you may need. But you need to have good income and credit score to qualify for a mortgage at better rates and terms.
