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Retiring in Mexico
So, you've vacationed in Mexico
and loved it! Taken in her spectacular scenery, enjoyed her
beaches or maybe explored her colonial cities, and now you
are wondering....can I retire in Mexico? Retirement may be
a few years off, but the idea of retiring south of the border
has been firmly planted! More and more gringos are indeed
choosing this charming country as their retirement destination.
In fact, expatriates choose Mexico for retirement more than
any other country in the world. Why? Primarily because it's
possible to reduce your current living expenses in half by
retiring here and not sacrifice, in most cases, the conveniences
found at home. You might even raise your standard of living.
Of course, this is not true in all areas. If you decide to
retire in Mazatlan, for example, chances are that your expenses
will not go down. But your peace-of-mind and enjoyment of
life will go up! living in mexico,
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One of the primary
questions retirees have about Mexico is the quality of health
care and insurance coverage. Contrary to popular belief, the
health care in Mexico is very good. Many doctors have trained
in the U.S. and are bilingual living
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Mexico has a multi-layered immigration system.
Tourists with an FM-T visa (commonly known as the tourist
visa) are allowed to stay in Mexico for 6 months without crossing
a border to renew the visa. For those who want to stay longer
than 6 months at a time without having to make a semi-annual
trip to the border, the next step in the immigration process
is the FM-3. You must be 55 to apply, and you will need 6
things: living in mexico, san miguel
de allende, retiring mexico, retiring in mexico
1)
A completed official application form (FDN1/02) and a copy.
These are available at any Mexican consulate and at the Regional
Immigration Office in Mexico.living
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in mexico
2)
Your original tourist visa (it cannot be expired).
3) A
current passport.
4) If
spouses are applying, a copy of the couple's marriage certificate.
5) Written
proof from a U.S. or Mexican bank that the equivalent of $1030
U.S. is being deposited monthly into the bank account of the
applicant. For each dependent, the amount required is approximately
$515 U.S. If you own property in Mexico, the amount required
is reduced by one half. These minimums are set by the Mexican
government and fluctuate.
6) There
are two fees that must be paid to the Mexican Tax Department
through a Mexican bank, using Hacienda Form #5. One is approximately
$35 U.S. and the other approximately $90 U.S. These are paid
separately; the first one before you apply for your visa,
and the second one after you have applied and received a letter
stating that your application has been received and is being
processed.
Mexico
can be a great place to retire, either full time, or if you want the best
of both worlds, just during the winter months. Assisted Living, Medical
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