Foreign Property Ownership in Mexico

Real Estate and Living Costs

Real Estate in Mexico is a fraction of the price of a comparable property in the US or Canada with waterfront properties being affordable as well as an extremely good investment for the future. We all know that waterfront properties hold their value better than others in a down market.

Most of the Foreigners living in Mexico are living in homes and affording a lifestyle that they may not have if they lived North of the Border. The cost of living is approximately 1/2 to 2/3 of what comparable living would cost you in Canada or the US. A good many of the Retirees in Mexico are living on their government pensions from their homeland.

Tourist and Residency Visas

As a snow bird you will receive a limited stay Tourist Visa when you enter Mexico. The length of the visa will depend on your planned length of stay in the country.

If you decide to move to Mexico on a permanent basis you will need to obtain a Migratory Immigrant Visa, usually an FM3. An FM3 is valid for a 5 year period and updated on a yearly basis. At the end of the 5 year period you reapply again for another 5 years. Renewing and applying for a Residency Visa is a very easy process and if you are uncomfortable filling out the forms that are in Spanish there are several agencies that will help you for a reasonable fee.

There are several other classes of visas that a Lawyer or Notario can advise you on. If you want to work in Mexico you must meet certain criteria and have the proper Visa to do so.

IMSS Medical

Once you have a Permanent Residency Visa you can then join the Mexico Social Medical Plan called IMSS.

The plan is similar to the Canadian Medical Plan (with short or no waiting periods) and the cost in 2008 was approximately $2850.00 Pesos (about $285.00 CAN Dollars) per person per year for someone over the age of 60. The hospital facilities and doctors are excellent but having a translator with you if you do not speak Spanish is advised.

Welcome to Manzanillo - Come and Stay Awhile - or Spend a Life Time - You Will Not be Disappointed

   MEXICO 387-761-0832         CANADA 604-628-2491         USA 818-429-4120