{"id":28320,"date":"2020-05-06T16:38:46","date_gmt":"2020-05-06T20:38:46","guid":{"rendered":"https:\/\/www.escapeartist.com\/?p=28320"},"modified":"2023-09-18T22:51:21","modified_gmt":"2023-09-19T03:51:21","slug":"10-reasons-to-move-to-mexico","status":"publish","type":"post","link":"https:\/\/www.escapeartist.com\/blog\/10-reasons-to-move-to-mexico\/","title":{"rendered":"10 Reasons To Move To Mexico"},"content":{"rendered":"
As I sit down to write this article on 10 reasons to move to Mexico, I have to first look at how the Coronavirus has affected Mexico and what we can expect in the coming months and years.<\/p>\n
Even though Mexico is part of the same continental land as the United States, there\u2019s a huge difference between the two countries. Mexico might have gotten a bad rap in the past, but really it\u2019s another example of a narrative that global powers create to isolate the havens by drawing examples of what\u2019s wrong with these places. I, for one, think that Mexico is a great place to live.<\/span><\/p>\n <\/p>\n If we go back to recent years, Mexico had become one of the fastest-growing economies of the world. The state system was offering incentives for people to invest in the country and drawing in huge amounts of foreign investments that were responsible for the economic growth spurt that Mexico was experiencing. The country had a GDP <\/span>amounting to $244 billion<\/span><\/a> as of the first quarter of 2019 and was expecting to grow higher as time passed.\u00a0<\/span><\/p>\n If we look at how the government has handled the Coronavirus, we will see that they really are not that different than any of the other governments, excluding a few in the world. Percentage-wise, Mexico sits around #18 for cases and deaths and the USA sits at #1. With the USA at a population of 329 Million and Mexico 126 Million, they are 1\/3 the size yet their statistics for deaths are considerably lower.\u00a0 All in all, Mexico seems to be making the same decisions as the States.<\/p>\n With these considerations in mind, there\u2019s still plenty of reason for people to move to Mexico. I am writing this article to highlight the advantages<\/span> of moving to Mexico so that more people understand why it\u2019s important to branch out, get multiple passports<\/a> and how that ties into their financial interests.<\/span><\/p>\n <\/p>\n I\u2019ve always supported the idea of dual nationality<\/a> whenever my clients come to me for business advice. There are plenty of reasons for my stance on multiple passports, most of them of a financial nature such as tax considerations, ease of doing business, the opening of bank accounts and companies but also because it becomes easier to travel the world visa-free or even if you do need to get a visa you can send one passport away for a visa and still travel on the backup passport.<\/span><\/p>\n The Mexican government <\/span>has recently made efforts<\/span> to promote dual nationalities, in light of improvements in foreign relations with the US. They\u2019ve eliminated many of the barriers to immigration that people faced, and the process has become a lot easier over the past few years. With a Mexican nationality, you get access to investment opportunities unique to Mexico. The tax system is very convenient (I\u2019ll discuss that in a bit), and the country is one of the cheapest places to live in.<\/span><\/p>\n Prior to Covid-19, Mexico was one of the largest growing economies in the world, owing to the development of the tech sector, you can even cash-in on these nascent organizations.<\/span> Do you remember that boom of start-ups around the early 2000s? Mexico was going through one at the close of 2019. Speculating that life will return to a somewhat normal activity for the tech industry, I would certainly be looking into investing in Mexico.<\/span><\/p>\n <\/p>\n Travelling to and from the United States is pretty easy when you\u2019re living in Mexico. Flights only take a couple of hours at max, before you land in the country and if you\u2019re managing your businesses in the United States, it\u2019s pretty easy to do it from Mexico. There\u2019s no reason why moving to Mexico should hold back your business interests even in the slightest.\u00a0<\/span><\/p>\n <\/p>\n If we\u2019re judging standards of living by the number of goods and services you can buy, then there\u2019s no better place to live in than Mexico. The housing is pretty cheap, the healthcare system is great and services like homecare and travel are equally as cheap compared to other countries around the world. If you\u2019re earning in dollars or the euro, the exchange rate differences enable you to buy <\/span>a lot <\/span><\/i>of things at a fraction of their actual cost.<\/span><\/p>\n Research indicates that Mexico has a purchasing power index <\/span>rating of 30.8<\/span><\/a>, which means that prices in Mexico are about 70% lower than those of the United States. When you consider the differences in the exchange rates between the US dollar and Mexican Peso (roughly $1 to 24 Pesos, as of May 5, 2020), you\u2019ll live like a king in the country. The fact that Mexico isn\u2019t as wealthy a nation as the United States has its advantages because of the lower inflationary pressures in the economy and is therefore <\/span>so much <\/span><\/i>cheaper than the United States.<\/span><\/p>\n <\/p>\n Mexico also has a very convenient tax system, making it incredibly easy for people to buy property in the country and run a business there as a resident. Whenever you\u2019re thinking of moving to a new country, I advise that you always check their tax profiles to see how much of your money you can retain while living there. Tax burdens can take up a lot of your money as time goes on and it pays to minimize your tax liabilities. Mexico, fortunately, is one of those countries that offer really low tax rates\u2014not a tax haven, but pretty decent nonetheless. The <\/span>Mexican tax system<\/span> looks something like this:\u00a0<\/span><\/p>\n <\/p>\n The future of Silicon Valley isn\u2019t in the United States but instead in Latin America. Every week I hear these new stories about these companies sprouting up in places like Costa Rica, Panama, and Mexico offering high-quality software development services. These software companies don\u2019t even charge that much compared to your local American programmers and match their skill sets.<\/span><\/p>\n The recent development of the tech sector in Mexico has played a very important role in the growth of the Mexican economy, where these programmers are outshining the Americans. With business flowing in from all over the world, Mexico might very well be <\/span>the next Silicon Valley of the world<\/span><\/a>. The Mexican government is also incentivizing start-ups to boost entrepreneurial activity in the country and capitalize on the labour skill set. Whether you look at it with respect to investment opportunities or the economic future of the country, the prospects are great.\u00a0\u00a0<\/span><\/p>\n <\/p>\n If you\u2019re concerned about settling in, you don\u2019t really have to worry about standing out. Mexico is home to hundreds of thousands of US expats who\u2019ve settled there to enjoy the opportunities of the country. People trying to save on taxes, running their business, or just retiring are moving to Mexico for the great healthcare, the business opportunities, and the lower cost of living.\u00a0 According to statistics, <\/span>nearly 1.5 million Americans<\/span><\/a> live in Mexico currently and trends indicate that more people will move to the country.\u00a0<\/span><\/p>\n <\/p>\n If there\u2019s one thing I can promise you, it\u2019s that Mexico is one of the most culturally vibrant countries in the world. In fact, it\u2019s so appealing to people that there are entire food chains commercializing Mexican cuisine, and Americans celebrate Mexican holidays. Clearly there\u2019s a lot that the country offers to people from a cultural aspect. Whether you\u2019re thinking about the food, the holidays, the people or the beaches, there\u2019s a lot to experience in the country.<\/span><\/p>\n <\/p>\n One thing I really love about Mexico is the real estate markets in the country. In recent years, the real estate industry has been growing consistently. The latest figures for 2019 show that real estate prices rose by <\/span>nearly 10%<\/span><\/a> over the last quarter and even today, with Covid-19 happening, when we go back to ‘normal’ the real estate prices will continue to be competitive especially compared to the USA.\u00a0<\/span><\/p>\n For someone looking to move to Mexico, the average price of a home is $90,591<\/a> compared to <\/span>$248,857 in the United States<\/span><\/a>. I\u2019m not even talking about a luxury home in the United States, that\u2019s the median price of a middle-class home in the US. The same amount of money can get you a far more luxurious house in Mexico, with more amenities and a team of gardeners, housekeepers, and other services.\u00a0<\/span><\/p>\n There\u2019s another potential opportunity in the Mexican real estate market which makes it the perfect place to invest your money in. The economy is recovering from a slump and political unrest from the past couple of years. This recovery puts you in the perfect place to make a fair bit of profit on the Mexican real estate market where you can buy cheap and sell for fairly high prices later down the years. <\/span><\/p>\n No one knows how the remainder of 2020 will be. I do know that Mexico has so many good things going for it before this epidemic hit us.\u00a0 When we look up and over what has happened, and what will continue to happen into the fall of 2020, I can see that the wages in Mexico will continue to increase and housing prices will see their way to an increase. This price hike is going to exceed anything that the market has seen before if the consistently growing wages in the country keep hiking. The rising wages and the establishment of Mexico a global technology hub will send property prices skyrocketing over the next few years.\u00a0<\/span><\/p>\n Whether you\u2019re trying to find a cheap house to live in or if you\u2019re looking for a safe real estate investment, Mexican real estate has a lot of potentials to offer.\u00a0<\/span><\/p>\n <\/p>\n If you want to settle down in an exotic location\u2014Mexico is pretty simple, offers plenty of investment opportunities and it\u2019s really easy to get a retirement visa. I\u2019ll outline the basics of the process:<\/span><\/p>\n In addition to these documents, you must provide the following information:<\/span><\/p>\n You should make note that your income can come from any of the following sources:<\/span><\/p>\n <\/p>\n I believe that Mexico has yet to manifest its full economic potential. These countries that were once celebrated for their cultural value are finally settling down the path of economic development and prosperity which will bode well for everyone. For one thing, their growth will take away the economic hegemony of the leading economic nations which have been coercing the world for centuries. For another, this financial growth comes hand in hand with an immense cultural value that you won\u2019t find anywhere else in the world.<\/span><\/p>\n Even with the coronavirus hitting us hard for the 2nd half of 2020, the best financial decision is one that factors in the economic and political circumstances and the ways in which these affect your financial wellbeing. Mexico may have been in the United States\u2019 bad books over the past few years, but things are finally looking up. Considering the recent political stability and economic prosperity of the country\u2019s experience, you should definitely consider Mexico as one of your retirement destinations. For those who aren\u2019t looking to retire, but are instead considering getting dual nationalities\u2014Mexico\u2019s possibly one of the easiest places to land a second passport.\u00a0<\/span><\/p>\n If you\u2019re thinking of moving to Mexico, I think there\u2019s a lot you can gain from the move. Considering the booming tech industry in the country, the low tax rates, and the generally low cost of living, you won\u2019t find a better place to live luxuriously than Mexico. While part of being a Perpetual Traveller and a financial libertarian means that you work consistently to keep yourself safe from financial exploitation, there\u2019s another side that asks you to live better. Mexico is definitely one of the places where you can settle down for a better life.<\/span><\/p>\n Here is<\/b> probably the most extensive ebook on <\/b>Everything You Ever Wanted To Know About Eliminating Your Taxes, Protecting Your Assets And Regaining Privacy Over Your Life And Investments<\/i><\/b>. It is called<\/b> The<\/b> Ultimate Guide To Going Offshore<\/b><\/a>.\u00a0\u00a0<\/b><\/p>\n I hope you got value from this article: 10 Reasons To Move To Mexico.\u00a0I have also added some additional articles on Mexico that I’m pretty sure you will love!<\/strong><\/p>\n A Financial Case for Moving to Mexico<\/a><\/strong><\/p>\n Real Estate Investment Potentials In Mexico<\/span><\/a><\/strong><\/p>\n Buying Property In Mexico: A Step-By-Step Guide For Expats<\/span><\/a><\/strong><\/p>\n1. Growing Economy<\/strong><\/h2>\n
2. Avail The Advantages Of Dual Nationalities<\/b><\/h2>\n
3. Close Proximity To The United States<\/b><\/h2>\n
4. Mexico Is Pretty Cheap<\/b><\/h2>\n
5. The Tax Advantages<\/b><\/h2>\n
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6. The New Technological Hub Of The Americas<\/b><\/h2>\n
7. There Are Plenty of US Expats Living In Mexico<\/b><\/h2>\n
8. Culturally Vibrant Society<\/b><\/h2>\n
9. Real Estate Is Pretty Cheap In Mexico<\/b><\/h2>\n
10. Getting A Retirement Visa Is Simple<\/b><\/h2>\n
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In Conclusion<\/b><\/h2>\n