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 Living Semi-Permanetly in Mexico means you are living in Mexico at least half of the year, or hold a residence of some sort here in Mexico. When you chose to live on a semi-permanent basis in Mexico, you will see that there are huge benefits to living and spending half of your time in Mexico. If you buy property yet chose to provide income for yourself during the months you are not in Mexico, there is the option of renting out your house or apartment, as well as having people look after it for you while you are away. If you chose to keep things simple and not buy your own real estate in Mexico, then the option is to rent it yourself and live without a mortgage or other strings of permanent residencey. This can be somewhat liberating for those who come to Mexico for the sole reason of living more simply and without an added financial burden.
Many people who want to retire want as little stress as possible, and want more time to relax and take in their new found life abroad. Given both sides of either buying or renting, there are always easy and accessible options to match exactly what you are looking for when moving on a semi-permanent basis. Living in Mexico on a part-time, semi-permanent basis also allows you the opportunity to make friends, join social organizations, meet your vecinos (neighbors) and enjoy the good life of Mexico. Many people speak English in Mexico and because of this, there are huge enclaves of retirees, foreigners and professionals who you will find a quick connection with, and who will meet your intitial needs to communicate and find a sense of home. For additional information on moving to Mexico, click on our Getting Started page, where you will find added suggestions for retiring, moving and residing in Mexico. Health Care & Insurance
Health Care and Insurance are important assets to have even if only living in Mexico on a semi-permanent basis. You may choose to keep your health care and insurance in the country where you are a citizen or where you live the other part of your time, but in any case, if emergencies come up, it is always better to be safe than sorry. For some insurance policies, they will not be applicable for use here in Mexico, so the best thing to do is first find out if your current insurance will cover you when living abroad. In general, the quality of healthcare in Mexico is very good. The Mexican government also offers the IMSS plan to foreign retirees, which is the Mexican Social Security. This plan covers all medical, dental and vision care. Another healthcare alternative is to buy a private insurance policy in Mexico that covers major medical expenses. Click here for added information on insurance in Mexico. Owning or Renting a Home
Whether you decide to rent or buy real estate here in Mexico on a semi-permanent basis, one things remains true for all foreigners. Foreigners can buy directly in any area that is not the coast or the border. If the property is within 60 miles of the border or 30 miles off the coast, non-Mexicans are required to purchase through a beneficial trust. Check our real estate section for further information, as well as our Business Directory for more specifics on where you may want to retire. We also have Certified Service Real Estate Agents that can help you in finding just what you are looking for when you retire. Click here for our section on Real Estate and click here to go directly to our Business Directory.
Immigration- Rentista
Immigration also refers to those who live in Mexico on a semi-permanent basis. The Rentista is a non-working visa available only to retirees aged 51 or older. Applications for rentista status must be accompanied by a letter from a bank, social security agency, or financial institution, certifying that the applicant receives a certain minimum monthly income. For added information on immigration click here.
Financial Planning-Early Retirement
Financial planning may or may not be an option for you when you retire to Mexico on a semi-permanent basis, however, it is advised that you hold a bank account in Mexico as long as you are living and spending money in Mexico. This way you are able to complete money transfers, use ATMs, and utilize money transactions here with the local currency, the peso. This is stressed because if something were to happen to your account elsewhere, while you are in Mexico, then you have a secure bank account here to fall back on. There are many banks in Mexcio to choose from. For more information regarding financial planning and early retirement in Mexico click here. For additional information on banking in Mexico click here.
Many retirees want to begin settling in to their new environment and new area of residence right away. If you are interested in getting involved in social organizations or in upcoming events here in Mexico, click on Community News. Return to top |
