Foreigners’ Permits to Build on Restricted Zone Resumed
Just last Monday we announced that Mexico’s Department of Foreign Relations had temporarily suspended the issuing of permits to foreigners in the “Restricted Zone.” Bending to a surge of complaints and possible property acquisitions cancellations, the SRE has now announced that permits for Fideicomisos (Banks Trusts) will continue. However, due to a lengthy update on their computer system, SRE employees will be processing permits manually. Yes, handwritten. Which will take longer than usual, but at least the process will continue. You can now relax, brokers, buyers and sellers!