Two Expats Mexico
This webpage has a blog that offers all kinds of useful first hand tips and information about moving to and living in Mexico. Qroo Paul is a retired police officer from Florida who lives with his wife on the Riviera Maya.
Resident and Tourist Visas
Canadians and Americans do not need a visa to enter Mexico for tourism or business. A tourist visa for up to 180 days may be obtained at the boarder.
This link takes you to one of Mexico's official sites about what you need to get a residents visa. Apparently each Embassy has a slightly different form and uses a different financial requirement, so this is only one example.
The official requirement for retired people is based on a multiple of something in pesos, so it can change as the exchange rate fluctuates.
If you plan to work, your employer needs to provide documents.
Cost of Living
Estimating what your cost of living has many variables.. I know someone who lives frugally on her social security benefits and others who spend more just on wine and dining out. This link will allow you to compare various aspectes between two cities and even if your city and the one you may move to are not listed, it still offers some good benchmarks for comparison.
A Reliable Immagration Lawyer
Immigration laws change regularly, and it is best to check with someone before you begin your application. Even if you feel you can complete the process on your own, it doesn’t hurt to consult an expert. Perla Vázquez Moctezuma has worked for Mexican Immigration so she understands the process, from both sides of the desk. Regardless of where you live, she can do a consultation on line and or by phone for 800 pesos (about 40. USD.) Should you choose to have her do do all the complicated paper for your residents visa, this consultation fee will be deducted from your final invoice. you can contact her to ascertain what her fee for completing your resident's visa would be you . Click here for her email address. She speaks some English, but of of her staff is fluent.
To qualify for a permanent resident’s visa as a retired person, you will need to show a monthly income of $1300. USD plus an additional $200.USD per dependent. This may be less if you have investments or own property in Mexico.
Spanish Lessons for Retirees
"Learn some Spanish" is the number one recommendation from people I have spoken with about moving to Mexico.
These lessons were designed by a retired police officer from Florida who lives in Mexico. They are short and to the point. He has simplified some of the complicated grammar and will get you making sentences before you know it. do yourself a favor and take the time to go through these videos.
Mexian Income Tax
How much tax do I need to pay
You might be surprised to discover that you need to pay income tax on any income earned in Mexico and this includes rental income. Tax laws are complicated, so hiring a good accountant could be wise investment. They might find you a wealth of deductions and is not that expensive to consult with one.
This link (from TrasferWise) will offer some basics to give you an idea of what you might expect to pay based on your income. Mexico is beginning to crack down on non-residents who are renting property and not declaring this income.