​1. Can foreigners own property in Cozumel?

Yes, foreigners can own property in Cozumel through a Fideicomiso (bank trust), which grants all ownership rights.

 

2. How long does the purchasing process take?

Typically, the process takes 45 to 60 business days, depending on factors like permit approvals and negotiations.

 

3. What are the total costs involved in buying property?

Closing costs generally amount to 8-10 % of the property's value, including taxes, notary fees, and trust setup fees.

 

4. Is financing available for foreign buyers?

Yes, some Mexican banks offer mortgages to foreigners, though terms and conditions may vary.

 

5. Do I need to be in Mexico to purchase property?

While visiting is beneficial, you can complete the purchase remotely through a legal representative with a power of attorney.