Many people from the US or Canada want to retire in Mexico due to its proximity to their home countries which makes it quite easy to travel back and forth to visit family and friends and Mexico’s high-speed internet and great cell phone coverage makes it the ideal place for business owners who still need to be in touch with their company but wish to do it from their retirement home in Mexico.
When you want to retire in Mexico you have to apply for a retirement visa.
The retirement visa allows you to live in Mexico but not to earn money here. You must prove sufficient resources from abroad to live in Mexico. To apply for and be granted this visa, you must:
- have certain family connections in Mexico, or
- apply for retirement status and prove you have sufficient monthly income (or substantial assets) to support yourself, or
- Have 4 years of regular status as Temporary Resident (2 years if legally married to a Mexican spouse or permanent resident)
When you over 60 and have residency status or are a citizen of Mexico you can apply for an INAPAM card which allows you to ask for discounts.
Firms and companies are advertising the fact that they offer discounts to INAPAM card holders and even companies that do not openly offer discounts may do so when asked after purchasing goods from them.
This little plastic card, which at the same time proves that you are a resident of Mexico helps to get you up to 50% discounts on goods and services throughout Mexico.
To apply for the card you will need the following:
- Your passport plus two photocopies of the photo page
- Your valid FM-2 or FM-3 plus two photocopies of the photo page
- A photo ID such as your passport or driver’s license
- Proof of current residence in Mexico: i.e. a utility bill in your name, deed to your home, or rental lease (two photocopies)
- Three photos in “infantil” size
- Contact information for someone to be contacted in case of emergency
- Two photocopies of your birth certificate
The benefits are plenty and include the following:
- 50% off on inter-city bus travel (though some lines limit the number of senior seats to two)
- 50% off on city buses
- Free or reduced entrance to museums and archaeological sites
- A discount on property taxes after an inspection
- A discount on your water bill
- Discounts at many, many stores—some offices will give you a booklet listing them when you apply for the card. The discounts tend to run 5-15%.
- Discounts in some pharmacies—usually 5-10%
- Discounts at some movie theaters
- Discounts—usually about 10%—at many restaurants
Many clinics, hospitals, doctors and laboratories are taking part in the program as well.