Can a foreigner buy land near the border with Mexico, Belize, Honduras or El Salvador?

No, with exceptions. Art. 123 of the Constitution provides that only Guatemalans by birth, or companies whose members hold the same status, may own or possess real estate within the 15-kilometer strip along the borders with Mexico, Belize, Honduras and El Salvador, measured from the dividing line. Urban property and rights recorded at the Registry before 1 March 1956 are excepted. The restriction reaches both ownership and possession, and it applies as well to Guatemalan companies with foreign shareholders.