No. In Guanajuato, a bank trust is not required — foreigners can buy property here and hold the title directly in their own name.

A bank trust is only mandatory for foreigners buying property located within 50 kilometers of the coast or within 100 kilometers of an international border. Holding property through a bank trust can significantly raise your closing costs, and the trust itself carries annual maintenance fees of roughly $500 to $1,500 USD.

One of the advantages for foreign buyers in Guanajuato is precisely that no bank trust is needed to own property here.