WATCH: Two Minutes with David Connell on Article 27 and Foreign Investors
Published May 24, 2013 - (Updated May 29, 2013)
With Mexico’s lower house of congress voting on changes to Article 27, which governs how foreigners can acquire property along Mexico’s coast and borders, many are wondering how these changes will increase their possibilities of investing locally. Up until now, foreigners have had to rely on real-estate trusts (commonly known here as fideicomisos). The law will not pass, if it does, until it is approved by the Seante later on this year. Meanwhile, we asked David Connell of Connell & Associates, a Mexican attorney and consultant firm, to explain the changes in Article 27 and what they mean to current and future foreign investors.