Yes, this post is correct. There are thousands of Americans and Canadians living in Chapala/Ajijic area. It's a fine area. I prefer bigger cities but I almost bought a luxury property in Chapala to rent out facing the lake. I have many friends that live in that area. The weather is very nice. A TON of Canadians.
You can research online and see tons of blogs on living in that area:
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Mexico is amazing and I own several properties in Mexico in different cities. I've been a 5.5 year permanent resident in Mexico and I could get my passport there and I may do that in 2024. I agree there are a lot of benefits including a stable banking system, proximately to the USA, some of the best food in the world. Real estate has gotten expensive there. I purchased many years ago and it's gone up 100% since I purchased from 5.5 years ago. It's been a strong source of income via luxury Airbnb rentals for me. I just purchased another property in Cabo that they are constructing now and done in 2025.
I believe with near-shoring and NAFTA it will be a great place to be a permanent resident and own assets. I am very proud to be a permanent resident there and I spend a lot of time there now. However, it's gotten more expensive but you can still live there and probably a great option if you find Argentina too expensive. Just keep In mind the exchange rate has shifted. During COVID I loaded up and purchased a lot of pesos at as high as 23.5 pesos to $1 USD and it's now under 16.95 pesos to $1 USD which makes it painful.
I agree with some
@Larry that you complain too much about Argentina. I disagree with you that it's "as expensive as the USA now" as I saw in some of your posts. I find it's still very affordable if you have USD or Euro income. It is very easy to get permanent residency there. I posted this on my Twitter but I will copy/paste it here too. I have permanent residency in several countries. This was the first time that I did my entire permanent residency process for a foreign country myself without having to hire a lawyer. It was very easy.
I post on several forums under different handles. I have since the Internet began. I've always enjoyed helping people and also learning from others. On these forums, you can figure out quick who is full of sh*t and who knows their stuff.
Once I start buying real estate in foreign countries, I prefer to get permanent residency in that country if possible. That way in the worst case scenario I can legally stay there forever and I have the same rights and privileges as a local.
I got my permanent residency visa in Mexico 5 years ago and it was super easy. I'd recommend anyone that quality do it.
Forgive me this is so long and detailed but another member on the forum asked for information on how to get your Mexican Permanent resident visa as a retireee. Here was my answer cut/pasted below:
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You start the process in the Mexican consulate office in your nearest USA city (I did mine in Santa Ana in Orange County, California). You have to either have a bank statement showing $210,000 US for the past 12 months in a row. Or show income via pension or can be rentals via real estate of $5,186 US dollars per month. I didn't know if one was easier/faster than the other but fortunately I qualified for BOTH methods.
Then you go to Mexico to finish the process. Was really easy. I did it 5 years ago and I can get my Mexican passport now if I wanted. I was amazed how simple it was. They have this email system that keeps you informed of every step of the process. Once I went to give them the application it only took 2 weeks. I couldn't believe it! (This outlines the process if you're interested -
https://consulmex.sre.gob.mx/sandie...s/g_7a_Permanent_Resident_Visa_Retirement.pdf
The down thing is Mexico has gotten really expensive. I own a few properties there and it's expensive now as the Mexican peso has shifted and gotten really strong so the US$ doesn't go that far there now. All my rentals are in USD and expenses are in pesos. That worked when it was 21 pesos to $1US but it's about 17 :1 now.
HOWEVER, if you don't speak Spanish it will be impossible for you to do it yourself. I recommend you check out this company -
https://yucatanexpatriateservices.com/category/resident-services if you don't speak Spanish. They can help you. They have great reviews online and they I talked to Adriana when I was going through the process. I determined after an initial consultation that I could do it myself. The only thing I used her for was she prepared some forms for me to fill out to bring to Guadalajara to finish the process. That was a big help.
Here is the address I went to in Guadalajara to apply:
Alcalde No. 500 4° Piso Palacio Federal, Col. Centro, C. P. 44280 Guadalajara, Jal.
Their office hours are Mon-Fri from 9 AM to 1 PM.
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Checklist of documents to take to Immigration for the “canje” procedure:
-Original and copy of passport (the original is just to compare with the copy; they will give it back to you the same day).
-Copy of the resident visa stamped in the passport. (You get this from Mexican Consulate office in USA).
-Original of the FMM document (the one you will receive at the airport marked as canje for 30 days).
-Letter requesting the resident card.
-Online form requesting the change of document to permanent resident card.
-Formato básico (basic form).
-Payment of immigration fees for the card. You must go to a bank to do this payment with a form the Immigration officer will provide to you when you submit your documents. (The payment will be done by you).
Dues to Immigration for each procedure
Permanent resident card: $4,828.00 pesos. (I paid this back in 2018 but it could have changed today the amount).
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If you speak Spanish then I don't think you'd need to pay anyone other than maybe just Adriana for an initial consultation to get the forms. Let me see in my files if I still find the form. If so, I'll post it here so it will help you and possibly others.
I speak Spanish so I did it myself. As mentioned, you have to start the process in the USA. But once you get to Mexico, you can't leave Mexico again until you get the Permanent Residency card. (Or at least I was told if you do leave it can complicate things). It only took me 2 weeks to get the PR card once I applied. I applied in the Guadalajara office which was very easy. The toughest thing was finding a place that had those funky small photos.
You don't have to spend any amount of time there in Mexico to keep the card. It's impossible for them to keep track when you cross the land borders when you leave. Only when you enter again. For example, AFTER you get your PR card you can just go to Tijuana and cross back into the USA without doing anything with your Mexican Permanent Residency card. Entry to USA is NOT linked to your Mexican PR card. I just enter with my Global Entry card.
I don't live in Mexico full time. I just always like to get Permanent Residency once I start buying real estate in a country. I like to have the same rights and privileges vs. locals. And in many countries you can't open a bank account without getting permanent residency.
It was all very easy in Mexico and as mentioned, I did it myself. I did it several years ago and was the best decision I ever made. I think anyone that can easily qualify for this for Mexico should do it ASAP. They could change the laws so I'd do it now while it's relatively easy.
It just comes down to having enough money in the bank. Just make sure the name on your bank statement matches exactly the name in your passport. They were sticklers about that. I actually had to go back to the Mexican Consulate office because the first time my middle name wasn't on my bank statement. So make sure before your appointment in the USA at the Mexican Consulate, your name matches exactly from Passport to Bank Statement.
Mexico just wants to make sure you won't be a drain on society so they want to make sure you have enough money to retire down there. I hope that helps.
PS. I found the forms that I needed to fill out and bring with me. It was these attachments. Just make sure you bring 3 copies of "infantile" sized photos. There is a place right near the government office in Guadalajara that did these photos. It was VERY frustrating as I had these photos done in USA but the size was a little off. They have to be exactly that size. There was only 1 place I found near there that would do it.
The lady was REALLY nice at the Mexican office as she told me to come back but she said I could skip the line (I waited 2 hours to get to the front of the line). So I went to do photos again and then skipped up to the line. Go early in the morning right when they open.
Also one thing I forgot to mention that was also a bit frustrating. Once you get to the front of the line and turn in all the documents they will give you a little ticket. You do NOT pay for the resident card there. It was a pain but you have to go to the bank (there was one 2 blocks away). And you have to pay for that fee and then once you do, you have to come back to that office to show them you paid.
So all in I think I was there 3 hours because I turned everything in. Then got to the front of the line. Then they said the photo wasn't the exact size they needed. Then she told me where I could go for that. I had to get photos, go back go finish. Then I had to go to the bank and come back. I didn't have to wait again in line once I paid. You go straight to the front of the line. But it still takes time.
So just plan on going for a few hours. There is a room and it was absolutely packed with Americans going through the same process. Most of them didn't speak Spanish so they had a guide there that was with them that was handling everything. I think Adriana from the website above offers that service as well. I'm not sure. But it was easy enough to do it myself minus the issues with the photos.
You can research online and see where are the best cities to do this. I did it in Guadalajara but there might be better cities. But for me it couldn't have gone easier. And they give you this URL link where you can check the status. And they ask for your email address and they keep you updated of the status. I kid you not! Within 2 weeks after applying I already got an email notice saying my Permanent Residency card was waiting to be picked up.
It was more high tech and efficient than even the USA where it took 3.5 months to get my daughter's passport renewed. Very organized system there in Mexico. I went back to the same address to pick it up. No problems at all. I was in and out in 25 minutes this time with PR card in hand.
I've recommended to friends to get their permanent residency card in Mexico. A few did but they hired people to help them. I qualify next year to get my Mexican passport if I want. I have to take some test but I haven't hassled with it just like I haven't hassled to get my Argentina passport even though I would easily qualify. Maybe in the future.
I hope this information helps you and anyone else considering getting Permanent resident card in Mexico. Mexico is an amazing country and one that I look forward to spending more time in. I purchased a few properties there and they have been amazing investments. Real estate has shot up there over the past several years.
Age has NO bearing at all on the retirement visa. As long as you meet (a) enough money in the bank; OR (b) you can show you make $X each month to meet the criteria. Nothing else matters. I got this in my 40's and they don't care how old/young you are. Mexico wisely makes it easy as they figure if you're retiring there you will be spending money there and will be good for their economy.
Yes, if you speak decent Spanish you could probably navigate as long as you know where to go and what to do (which I already explained in detail - that was the tough thing for me). All of these forms is what I had to fill out. If you have a friend that can go to the office in Mexico you can EASILY navigate it without paying a lawyer. All the folks at the Guadalajara office were really patient and great. Even after I was so frustrated with the photo issue, they were kind and let me cut back in line once I found the smaller photos. I highly recommend that office.
Remember, once you apply you can travel anywhere else in Mexico and just come back to Guadalajara once it's done. I'd guess it takes about 14-20 days. You have to come and pick it up in person.
Let us know how it turns out. Mexico is an amazing country to be a permanent resident in. Also, once you have your RFC (Permanent resident card) you can also invest in their CEDES (government treasuries program -
https://cetesdirecto.com/sites/portal/inicio). I bought a ton of pesos when it was 23 pesos to $1 US. Then bought some CEDES. Now I just keep rolling over the 28 day CEDES (1 month). They are paying almost 11.5% interest now . So if you're really planning on retiring in Mexico you might want to consider putting some into their treasury program. I like to stay diversified. And it's a guaranteed peso income every month without doing anything. Obviously you have currency risks but I assume you will keep bulk of your savings in US$ or Canadian $.
It ended up being a GREAT call because the peso went from 23 pesos to $1 uS down to under 17 pesos the other day so I've made money on both sides.
