by Kathleen Peddicord
Founder and Publisher, Live and Invest Overseas
Talk about options and
opportunity! This big, extraordinarily diverse country offers two long coasts,
mountains, and colonial cities...not to mention Mayan ruins, jungle, rain
forest, rivers, and lakes.
Mexico also wins the prize for most accessible
to the U.S.
You (or your loved ones) could drive back and forth for visits.
For all these reasons, Mexico
is home to the biggest established populations of American expats in the world.
It's perhaps, therefore, your best choice if you seek an adventure overseas
with all the comforts of home.
Ajijic, Lake Chapala, Jalisco, Mexico
Ajijic is home to the
biggest and most established expatriate community in the world. You could
retire here comfortably without learning Spanish and you could spend most of
your time, if you choose, among fellow foreign retirees. Ajijic residents enjoy
the comforts and conveniences of back home while living at a reduced cost and
with great weather.
According to the
International Living Magazine (AARP),
the fantastic climate, an international English-speaking community, the
tranquility of picturesque Mexican villages, the beauty of Lake Chapala and the
Sierra Madre mountains, the friendly people, the inexpensive cost of living
(including having a maid and gardener if you wish ) and the relatively
inexpensive real estate market have made this area one of the most sought after
places to retire in Mexico.
The Mexican government, through its FONATUR tourism development agency, has a
seriously sound track record developing little stretches of this country's
coast. All interested investors have to do is to pay attention to where FONATUR
is moving next to cash in.
More and more Baby
Boomers on a fixed income are looking at Mexico as a retirement
solution. Why? Because you can live comfortably on considerably less
than in the United States!
For many Baby Boomers, relocating to Mexico may be the only viable
option for retirement.
Worried about Crime or Violence in
Mexico?
According to AARP, A quick word about crime and safety in Mexico: Yes, it's extremely dangerous in the
cities bordering the United
States and a few places elsewhere. Mexico, however, is also nearly three times the
size of Texas,
and most of the country is reasonably safe and secure, especially resort areas
and tourist destinations.
Population
|
108.7 million (July 2007)
|
Gross Domestic Product (GDP)
|
$1.353 trillion (2007)
|
GDP Per Capita
|
$12,500 (2007)
|
Inflation Rate
|
3.8% (2007)
|
Currency
|
Mexican Peso (MXN)
|
Exchange Rate Versus U.S. Dollar
|
10.8 Mexican
pesos = 1 U.S. dollar (March 2008)
|
Languages
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Spanish
|
Capital
|
Mexico City
|
Population of Capital
City
|
18.7 million
|
Time Zone
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GMT minus 6
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Seasons
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Coasts: hot, humid Inland: dry, warm year-round
|
International Dialing Code
|
52
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Electricity
|
127V / 60 Hz; Plug Type: A, B (US style)
|
| |
Federal
Republic
|
Name and Party Affiliation
of Current Leader
|
Felipe Calderon, National Action Party
|
Income Tax Rate for Residents
|
3% to 29%
|
Property Tax
|
0.275% to 1.350%
|
Capital Gains Tax
|
28% of net profit with deduction options OR 25% of gross
profit without deduction options
|
Inheritance Tax
|
0%
|
Rental Income Tax
|
Taxed as regular income
|
Transfer Tax
|
2%
|
Sales Tax
|
15%
|
Restrictions on Foreign
Ownership of Property
|
For property 50 km from ocean or 100 km international
border, foreigners must own through a bank trust (Fidecomeiso)
|
Local Chamber of Commerce
|
www.ccmexico.com.mx
Paseo de la Reforma 42
06048 MEXICO, D.F.
Tel: (52-5) 592-0371
|
American Chamber of Commerce
|
www.amcham.com.mx
Lucerna 78
Col. Juárez
06600 México, D.F.
Tel: (52-55) 5141-3800
|
Primary Exports
|
Manufactured goods, oil and oil products, silver, fruits,
cotton, vegetables, coffee
|
Residency and Visa Requirements
|
Tourist Visa: 180 days Residency: visitor, student, artist and sports people,
distinguished visitor, local visitor, provisional visitor,
correspondent/journalist, and religious minister visas; immigrant visas for
retirees, investors, professionals Citizenship: after residency of a continual 5 years with an
immigrant visa
|
Special Benefits for Foreign Residents or Retirees
|
Valid foreign residents are eligible for Mexican senior
citizen benefits that amount to discounts of up to 50% on a variety of goods
and services, from health care to movie tickets to hotel rooms
|
National Airline
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Aeromexico - www.aeromexico.com
Mexicana - www.mexicana.com
|