What is the best place to eat in Rocky Point?
This is a hard question to answer, because it’s almost impossible to get a bad meal in Puerto Peñasco. There are many excellent restaurants, almost all of them with bars. Seafood and Mexican food are standard offerings. Some restaurants feature Italian, Chinese, and American food, pizza, rotisserie chicken, and barbecued specialties. And don’t overlook the taco stands on street corners. They are usually excellent also. See the penasco.com Yellow Pages for a listing of restaurants and bars.
Can Americans own real estate in Mexico?
Yes, but not in the restricted zone, which includes Puerto Peñasco. Foreigners can have all the rights of ownership through an instrument called a bank trust (fideicomiso), but the actual title is held in trust for them by a bank. The bank trust is good for 50 years, renewable for another 50. There is an annual fee.
Is a bank trust the same as a long-term lease?
No. With a lease, you have no rights except use of the property. With a bank trust you can use, improve, encumber, or transfer the property.
Is it true that Americans need to have a Mexican partner to own property in Mexico?
No. This used to be a requirement but is not any longer.
Can Americans own real estate through a Mexican corporation?
Foreigners can form a Mexican corporation, which does not need to have any Mexican shareholders. A Mexican corporation can own property for commercial, but not residential, purposes.
How is the weather in Rocky Point?
2 inches — mostly in December and January and late summer.
Dec. to Feb. – 40-75 F°
March to May – 60-80 F°
June to Aug. – 68-98 F°
Sept. to Nov. – 62-84 F°