How to Retire to Mexico?

Question

What are the issues and how to do when retiring to Mexico? does anybody know?

Answer 1

The main issue is whether or not they will let you.  They have some of the strictest immigrations policies in the world.  Another item is that you, as a foreigner, can not own property, many non-mexicans citizens have lost their life long retirement savings when Mexico simply took away their houses.

Answer 2

Biggest  thing is where ? I am retired in Acapulco and love it. Need to have proof of $1200 a month income and your golden.

Need to be able to be flexible as things are a little different here. Poverty , trash , lack of education , drivings insane ,

weather and food are great. Most people are great. Biggest issue is finding where you might like to live. Come down with a list of cities and visit each. Kinda like finding a mate - you just know........

E mail me if you need some more specifics as your question is a little vauge.

Answer 3

Gypsy and Michael are correct.  It is not difficult, but does take planning. To reside legally in Mexico, you need to apply for an FM3 vias, which requires that you document at least $1200 a month steady ibcone from the U.S.  This visa must be renewed yearly.  You certainly may buy property..or rent as desired.  Areas in touristy areas and where there are lots of gringos are generally more expexsive to live in than other places.  You need to decide what climate you eant to live in, then city or sm. town, etc.  Moving furniture costs more than it is worth, so I recommrnd buying new here,,,cheaper than moving stuff.  If I can be of help with details, just email me.

Answer 4

You've received some good advice but now you need to read a book or two about retiring in Mexico. As stated, your question is a bit general in nature.  The books won't answer all your questions but should help you get focused on what you don't know and need to know.

Don't forget cities in the central area of Mexico. Great weather, it can be rather warm on the coast in the summertime.  

I'm not sure but has the law changed about foreigners not being able to buy property within 30 miles/Km of the coast and 50 miles/Km of the border.  Instead of buying they have a 99 year lease or something.

Answer 5

Interesting that jH tells you that you can't own in Mexico, but includes a link that explains how you CAN. There is more information here   http://www.mazinfo.com/mazhomes/buying%2...

It is quite easy to retire in Mexico. You need 1. A passport. 2. Income to live on. (Much less than you need in a similar place in the US)

To get resident status you will need to get an FM-3 resident visa. It costs about $130 USD per year and you will need to prove you have available about $1200 USD per month for the next 12 months. That can be done via a pension/retirement income or  more than $14,000 in a bank account (Savings, CD, what ever) so you can draw out $1200 per month if you need to for the next 12 months.

I have lived in Mazatlan for more than 20 years and there are people here living on (Actually spending) $800 a month and some who spend $1500 a month and some who spend $3,000 a month.

It all depends on WHERE you live (Some places, like the US are more expensive than others), and HOW you live. Friends and I had a very fancy diner last night at a beautiful restaurant on the marina in Mazatlan with live jazz a few feet from our table. A VERY luxurious diner in a beautiful place, with drinks under $20.00 each. The night before I had a great diner at my neighborhood restaurant. Not fancy, not on the water, with a soft drink, but $4.00 each.

Mazatlan is a fairly expensive town in Mexico as it is a BIG tourist town. Some places are more, many places are less. Rents can run from $200 a month to over $2,000. In the last 2 weeks I sold a town house for $130,000, a 3,000 sq. ft. home for $310,000 and a simple home of about 1100 sq. ft. for $39,000.

Answer 6

You can find all the information you need in order to retire to Mexico for good by clicking the next link:

http://www.squidoo.com/retiretomexicogui...

Hope it helps!! ;)

Answer 7

I think JH may be confusing obtaining citzenship in Mexico with retiring in  Mexico.Retiring is simple, obtaining Mexican Citizenship is doable but much more difficult.See link below to begin your research....It is not a problem to own a home in Mexico.

Good luck,it's a great place to live.