Foreign buyers have to understand Puerto Vallarta is a Mexican tourist destination. It is a beach resort city, situated beside Bahia de Banderas on the Pacific Ocean. Tourists love Vallarta for its beauty and attractions including Church of Our Lady of Guadalupe, Púlpito and Pilitas, Boy on a Seahorse sculpture (El Caballito) now located on the Malecón, The Malecón – paved walkway along the seashore in Col. Centro, and the Plaza de Armas (Ignacio Vallarta) / Aquiles Serdán Amphitheater.
Beaches include Playa Camarones (Shrimp Beach) – Col. 5 de Diciembre, Playa Olas Altas (High Waves Beach) – Col. Emiliano Zapata, Playa Boca de Tomates (Mouth of Tomatoes), Playa Gemelas – a beach 3 km (2 mi) north of the mouth of the Mismaloya river and has some of the clearest water in the bay, and Playa Mismaloya – at the mouth of the Mismaloya River.
Beaches include Playa Camarones (Shrimp Beach) – Col. 5 de Diciembre, Playa Olas Altas (High Waves Beach) – Col. Emiliano Zapata, Playa Boca de Tomates (Mouth of Tomatoes), Playa Gemelas – a beach 3 km (2 mi) north of the mouth of the Mismaloya river and has some of the clearest water in the bay, and Playa Mismaloya – at the mouth of the Mismaloya River.
Understanding why millions of tourists visit Puerto Vallarta will give you some reasons why they want to own a piece of this little paradise. However, as a foreign buyer, purchasing most property in PV requires a foreign purchaser to use a Fideicomiso (Bank Trust). The bank trustee holds the legal “naked” title to property. The buyer is designated as Beneficiary for the term of the trust. As Beneficiary, you have the same rights, use and enjoyment as a Mexican National, and can sell or rent your property without restriction, and keep the proceeds less capital gains (which will be discussed in a future post). You may also transfer your rights to a third party or pass it on to named heirs.
