“The longstanding restrictions on foreigners buying property along Mexico’s coast and borders were loosened on Tuesday after Congress’ lower house voted on a proposal that drew stiff criticism from some quarters.  For decades, foreigners have had to use real-estate trusts or Mexican front companies to buy beachfront properties, because Article 27 of the constitution prohibits non-Mexicans from directly owning land within 31 miles (50 kilometers) of the coast and 62 miles (100 kilometers) of the nation’s borders. The trusts and front companies have provided a lucrative income for banks, lawyers and notaries who are required to operate them.”

http://latino.foxnews.com/latino/money/2013/04/24/mexico-loosens-restrictions-on-foreigners-buying-property/

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