What happens if Argentina gets too expensive? What are alternative cities/countries to move to when it's overpriced in Argentina?

[Larry]

People say I have the "sky is falling" attitude but I feel as if Argentina is already more expensive than it's ever been. Granted I was not living in Argentina during the $1 USD = $1 Peso days. But in 20 years living here I don't remember it being so expensive. I did leave a few years before so maybe it was expensive during my absence. I'm on a very limited budget being a retiree.

I ask you my fellow forum members, what are some other countries or cities you see yourself moving to if life here becomes too expensive or if the safety and security take a drastic downward fall? What if things become like Venezuela was and you see all their citizens leaving for other countries. I think that could happen to Argentina. What are your thoughts and opinions?

 

[Betsy Ross]

I don't see Argentina ever getting like Venezuela. I don't think you can compare the two countries. Argentina is a very different place vs. Venezuela. There was a lot of wealth created In Argentina a century ago and that wealth has just flowed from generation to generation. I have a lot of wealthy local friends that put my friends in the USA to shame for net worth. I just never see Argentina getting to be like Venezuela.

As to locations, Mexico is very nice and many of my friends have moved down there many years ago. But it's certainly getting more expensive now.

 

[sergio]

I don't see Argentina ever getting like Venezuela. I don't think you can compare the two countries. Argentina is a very different place vs. Venezuela. There was a lot of wealth created In Argentina a century ago and that wealth has just flowed from generation to generation. I have a lot of wealthy local friends that put my friends in the USA to shame for net worth. I just never see Argentina getting to be like Venezuela.

As to locations, Mexico is very nice and many of my friends have moved down there many years ago. But it's certainly getting more expensive now.

Yes, many thousands of expats in Ajijic and Chapala area outside of Guadalajara. Also there are many Americans and Canadians as well in San Miguel de Allende in Mexico. Mexico has some of the best food, amazing history and culture, close to the USA and easy to get to and very stable banking system and currency.

 

[Larry]

Yes, many thousands of expats in Ajijic and Chapala area outside of Guadalajara. Also there are many Americans and Canadians as well in San Miguel de Allende in Mexico. Mexico has some of the best food, amazing history and culture, close to the USA and easy to get to and very stable banking system and currency.

I do enjoy Mexico and I like it is close to the USA. Some of my favorite food is Mexican food. Does anyone know if it is easy to get permanent residency there?

 

[retiredbanker]

People say I have the "sky is falling" attitude but I feel as if Argentina is already more expensive than it's ever been. Granted I was not living in Argentina during the $1 USD = $1 Peso days. But in 20 years living here I don't remember it being so expensive. I did leave a few years before so maybe it was expensive during my absence. I'm on a very limited budget being a retiree.

I ask you my fellow forum members, what are some other countries or cities you see yourself moving to if life here becomes too expensive or if the safety and security take a drastic downward fall? What if things become like Venezuela was and you see all their citizens leaving for other countries. I think that could happen to Argentina. What are your thoughts and opinions?

@Larry your posts are amongst the most exaggerated and the biggest doom and gloom poster on this forum. You keep mentioning how Argentina is very expensive now contrary to other members that have lived here for years. Even @Che Vos comments how your posts are wrong and it's not that expensive compared to before.

I hesitated to even post to this thread as to not give credence to your doom and gloom. I'd say if you think it's so expensive, just leave. This is home to me and I'm not leaving.

 

[Canada Goose]

@Larry your posts are amongst the most exaggerated and the biggest doom and gloom poster on this forum. You keep mentioning how Argentina is very expensive now contrary to other members that have lived here for years. Even @Che Vos comments how your posts are wrong and it's not that expensive compared to before.

I hesitated to even post to this thread as to not give credence to your doom and gloom. I'd say if you think it's so expensive, just leave. This is home to me and I'm not leaving.

I am NO expert on Argentina and was only there for 6 weeks. I'm in the process of selling my townhouse in Vancouver and moving down there. I just left and I thought it was dirt cheap there! If this is the most expensive it is like @Larry is now claiming I would have LOVED to have been there before! I know the locals have it tough but kind of strange to see expats complaining already how it's "as expensive as the USA or Europe" when that is truly not the case.

@Larry if you find it's too expensive, why not just leave already?

 

[earlyretirement]

Yes, many thousands of expats in Ajijic and Chapala area outside of Guadalajara. Also there are many Americans and Canadians as well in San Miguel de Allende in Mexico. Mexico has some of the best food, amazing history and culture, close to the USA and easy to get to and very stable banking system and currency.

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:

Yes, You Can! Retire in Ajijic on Less Than $2,000 A Month - Mexico Relocation Guide

Wondering if you can actually retire in Ajijic on less than $2,000 a month? You can do it! Read this comprehensive guide to learn more!

mexicorelocationguide.com

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 do enjoy Mexico and I like it is close to the USA. Some of my favorite food is Mexican food. Does anyone know if it is easy to get permanent residency there?

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.

https://x.com/BuySellBA/status/1700915447150072212?s=20

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:

________________

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.

_____________________

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).

_________________

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.

 

[Cardiac Arrest]

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:

Yes, You Can! Retire in Ajijic on Less Than $2,000 A Month - Mexico Relocation Guide

Wondering if you can actually retire in Ajijic on less than $2,000 a month? You can do it! Read this comprehensive guide to learn more!

mexicorelocationguide.com

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.

https://x.com/BuySellBA/status/1700915447150072212?s=20

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

________________

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.

_____________________

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).

_________________

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 gatonesko, 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.

No, 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.

Holy cow are you detail oriented!!! Thanks for sharing this. I've never seen anything so detailed before on getting permanent residency for FREE. Thanks!

 

[Billy Goat]

Thank you @earlyretirement! This is very helpful. For the rental income did you have to show your US tax return? Airbnb statement? Both? How strict were they? You mentioned you qualified for both. You meant you also was prepared to show regular income/pension income?

 

[Uncle Wong]

Thank you @earlyretirement! This is very helpful. For the rental income did you have to show your US tax return? Airbnb statement? Both? How strict were they? You mentioned you qualified for both. You meant you also was prepared to show regular income/pension income?

Thanks so much earlyretirement. Could the $210,000 be in stocks or was it an actual bank statement? Do you have to have $210,000 CASH or could it be 401K bank statement?

 

[earlyretirement]

Thank you @earlyretirement! This is very helpful. For the rental income did you have to show your US tax return? Airbnb statement? Both? How strict were they? You mentioned you qualified for both. You meant you also was prepared to show regular income/pension income?

You are certainly welcome. I enjoy sharing the knowledge and one of the reasons why I created this forum. I encourage everyone to share valuable information that might be able to help someone. For income, I had to show actual bank statements showing where the income was coming in. I had the Airbnb statements but they were more interested in seeing the actual ACH deposits into my bank account. I brought my USA tax return as well as the Airbnb income statement but they were looking each month for the rental for each month. I own many properties and I had many, many deposits each month easily meeting the minimum.

I also had a bank account with more than the minimum balance. They just want to make sure that you won't be a drain on society. They have to be the actual statements from the bank or financial institution. Also, make sure that the name matches the bank statement exactly as your passport as they required that and my middle name wasn't on my bank statement so I had to bring them back.

Thanks so much earlyretirement. Could the $210,000 be in stocks or was it an actual bank statement? Do you have to have $210,000 CASH or could it be 401K bank statement?

On the website:

https://consulmex.sre.gob.mx/sandiego/images/visas/ingles/g_7a_Permanent_Resident_Visa_Retirement.pdf

It says it can be investments but I had a few friends that said they wanted to see a bank account but I'd assume that investments should work. But again, I think just make sure the name matches exactly and it had to have the bank stamp it. These Latin American countries love to see "stamps" so maybe just ask them to Notarize it as most branches have a notary public. I just had the notarize each statement and I didn't have issues.

 

[Larry]

Thank you so much @earlyretirement. We might agree on the cost of living in Argentina. I find it very expensive. But this is the best write up I have seen on getting permanent residency in a Latin American country. It seems easy enough but many people won't quality with EITHER of having over $210,000 USD or having over $5,185 USD in monthly income. That is quite a bar so it is not that easy for many people.

My picks are either Cusco or Arequipa, Peru for expats. Very affordable.

 

[Finance Prof]

Fabulous! Thank you for sharing! I met some people that like Arequipa. They tell me it's very safe and very cheap. I myself have never been there. I like bigger metro cities.

I have other friends that enjoy Medellin as it is not too far from the USA and many direct flights from Florida with cheap flights. Although lately I hear of many foreigners being murdered there so I'm not sure. I also hear there is resentment now from locals towards expats. And cost of living has gone up there too so I'm not sure now.

 

[Alby]

Wow great write up! I didn’t realize Mexico was so easy to get permanent residency. Thanks for sharing!

So, Arequipa or Lima? They're like foodie heavens, way better than Argentina. But, heads up, the vibe is kinda "third world." Being an expat there means everyone knows you're not a local; they don't have many native white people. It can get a bit annoying.

Valparaiso is cool but chill—plus, you can snag a cheap Copa flight from Santiago to Cali. Chile's food scene is lowkey awesome. People are a bit reserved, though, and the expat crew is tiny, making you worry about being all alone. But hey, cooler weather is a plus!

Colombia's a mixed bag—growing expat scene, meh food that is mostly all fried and unhealthy, and you gotta watch out for hustle and crime. Also, it's basically always hot in many cities except Medellin which is going downhill fast!

Thinking beyond, you got Panama, trying to be the Latin American Dubai, and the buzzing Mexico City. Loads to explore!

 

[old fart]

Wow great write up! I didn’t realize Mexico was so easy to get permanent residency. Thanks for sharing!

So, Arequipa or Lima? They're like foodie heavens, way better than Argentina. But, heads up, the vibe is kinda "third world." Being an expat there means everyone knows you're not a local; they don't have many native white people. It can get a bit annoying.

Valparaiso is cool but chill—plus, you can snag a cheap Copa flight from Santiago to Cali. Chile's food scene is lowkey awesome. People are a bit reserved, though, and the expat crew is tiny, making you worry about being all alone. But hey, cooler weather is a plus!

Colombia's a mixed bag—growing expat scene, meh food that is mostly all fried and unhealthy, and you gotta watch out for hustle and crime. Also, it's basically always hot in many cities except Medellin which is going downhill fast!

Thinking beyond, you got Panama, trying to be the Latin American Dubai, and the buzzing Mexico City. Loads to explore!

@Alby, you're a bit off with Colombia. Our expat crew is practically a secret society (count me in, by the way as that is my old hood). And where I lived, every day was a perfect 68-81 degrees—take that, weather envy! As for Bogota, sure, it's colder, but meh food? Nah, it's a masterpiece of awfulness. Food is horrific there!

 

[McDonald]

So, the Mexican side of the fence? Not exactly the perfect grassy paradise. It’s been a few years since I lived there so may be a bit off but here is my 2 cents.

Picture this: 7,000 feet up in San Miguel de Allende, higher than Denver, with air so thin it's practically on a diet. Dry as a desert too—windows, sidewalks, cars, all on a daily dust cleanse routine.

Hills? Yeah, they got those, not as chill for strolling compared to BsAs. But hey, artsy galleries and cool eats make up for it. Just watch out, because recently the cartels are like the new rulers, not exactly a tourist-friendly bunch.

And get this, the U.S. State Department gives Mexico some serious side-eye, labeling chunks of it as Level 4 dangerous. That's like saying it's on par with North Korea or Syria—yikes! Even the seemingly safer spots like San Miguel are a cautious Level 2. Not exactly screaming "come live here," huh?

Here's a plot twist you didn't see coming: back in the '80s, Mexico decided to switch currencies. Expats with property got the short end of the stick, forced to sell for basically nada. Ajiic on Lake Chapala? Lovely spot, but Level 3 caution in Jalisco State.

Still love Mexico, though. Just, you know, buyer beware.

 

[RN in BA]

Mexico is perfectly safe. I’m half Mexican and have a lot of family there. Cartels? Maybe on border towns but the rest of Mexico is perfectly safe.

Puerto Vallarta? Absolutely great vibes! If you're into solo beach time, Nayarit's coast just north is your spot. Sayulita is awesome. Food? A-ma-zing. And the best part? Booze that's practically giving itself away.

But hold up, Ajijic and Chapala? Overflowing with expats, mostly from the "Ugly North Americans" club. Some loud behavior made my friends bounce, didn't want to be part of that scene. Guadalajara is where the city magic happens, or chill in Tequila – famous for some kind of liquid gold. And oh, the food game is strong everywhere in Mexico. 🌮

For big city living Guadalajara is a great city. I like Mexico City too but the traffic is too terrible there. I found in Guadalajara it’s not too bad. Amazing people and food!

 

[Bob]

Okay, first stop, obvious vibes: Paraguay, right next door. Easy peasy to bounce back to Argentina when things start looking up again.

Then, shoutout to Team Colombia! Cool culture, friendly people, not too expensive, top-notch healthcare, plus solid expat backup and infrastructure.

 

[Cali Baby]

I don't know about Peru as a choice. It sounds like a lot of chaos there this past year. I flew through Lima earlier this year and everything was shut down. The police were even checking each Uber to get into the airport.

 

[Larry]

I don't know about Peru as a choice. It sounds like a lot of chaos there this past year. I flew through Lima earlier this year and everything was shut down. The police were even checking each Uber to get into the airport.

So, I have been to almost all the South American countries except for Guyana. My absolute faves are Peru, Ecuador (I really like Guayaquil), Bolivia, and maybe Brazil. Ecuador is like, unbelievably gorgeous. Quito and Guayaquil are cool too, but watch out for crime as it can be an issue there.

Peru is like, seriously underrated, especially by people from Argentina. Peru is super safe now, especially in Arequipa, which has, like, one of the lowest crime rates in all of Latin America. The economy is rock solid, and Lima and Arequipa have top-notch infrastructure. Plus, the food is, like, the freshest and tastiest in all of Latin America and beats Argentina by a mile! The culture is rad too, with Incan history and Amazonian tribal vibes. And let's talk about the scenery – Peru has some of the most breathtaking, untouched views ever! The Amazon jungle is a total blast, especially in places like Iquitos, Pucallpa, and Tingo Maria. And guess what? You can totally try ayahuasca--it's legal there-- for the full experience! I've had a vision quest and it changed my life!

Peru's been like an economic superstar the past few years of Latin America. It's got crazy low inflation, and loads of expats are starting businesses there. Start-up costs are way lower than in Argentina. Arequipa, Cusco, and Iquitos are the bomb if you're thinking about doing business and living that chill, vibrant life. It's seriously the place to be!