latinitalian41
9/17/2015 09:55 EST
Hello to everyone, I am looking in various countries to retire, but Mexico would be my first choice. I am a Military Retiree with a monthly retirement pension of $3000.00 USD after taxes a month and another $1000.00 USD monthly from a rental property in North Carolina. I feel financially I would qualify for a temporary visa, is that so? This may be a couple of dumb questions I am about to ask, but I will ask anyway. Does one lose their citizenship if you get permanent residency in any foreign country?
Will I lose any benefits as a permanent resident say, Mexico? Would I have to turn over my US passport when this happens? I love America and in no way do I want to relinquish my US citizenship. Hard times has come to America, which has forced expats to move abroad. I however have always wanted to live abroad and Mexico has always been my choice. I love the tropics and beaches of the Riviera Maya, but I also love the small town and temperate climate of Ajijic. Does anyone feel that a 49 year old retired military man can live comfortable on $4000.00 month in Mexico.
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joaquinx
9/17/2015 10:08 EST
No. The only thing you lose with a permanent visa is the ability to have a foreign plated car. You keep you citizenship.
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Cozumeldeb
9/17/2015 10:47 EST
Congratulations on your military service and retirement..To begin with you will live very well on your pension..and it is enough to qualify for permanent retirement residency..we are in the process of that right now..Google Mexico permanent residency steps, it is fairly easy to get docs and support material..go to your nearest MX embassy where you live to the Visa dept..we are handled under Chicago..if your intent is to work then will probably be smarter to get temporary visa..You DO NOT lose any of your US citizenship rights..Agreed we would never do that either..doubt many would...Research your areas based on your activity likes and dislikes...We live in Cozumel half yr and love it,I've seen apts renting $300-$600 USD depending on # of bedrooms you need (check out airbnb.com and vrbo.com, in search box type Cozumel and you will see vacation rentals, but are all pretty much the same)..QRoo and Yucatan has a lot to offer..Merida is a huge ex-pat area, beautiful city with everything you could need..plus many beach towns..I'm not a fan of Playa/Cancun area..much to congested and more than a little crazy..but their are smaller areas up and down the ocean front from Tulum to Merida..Cozumel in our opinion is just right, good restaurants, good ex-pat community, of course world class diving and snorkeling..Some people look at cruise boats as an issue, we don't because it brings revenue to the island..Tues & Wed are big boat days, simple don't go to town those days..Cozumel4u.com is a great site to ask any questions you may have, all ex-pats are on it and helpful. Yucatanliving.com is based in Merida and covers everything Yucatan..Good Luck in your search and feel free to ask me any other questions..Deb
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Rodrigo1974
9/17/2015 10:56 EST
absolutely. we paid $320 USD permonth for a 2 bedroom apartment in the middle classed area of Narvarte in Mexico City 12 years ago. the bldg. was brand new. why don't you just teach a couple English classes a week and get a work permit? anyhow, you're going to probably need a lawyer and the permanent resident option is going to run you $2000USD. Plus, you're going to have to return to the U.S. to get birth certificate apostilizations and the like. it may just be easier to keep renewing your tourist visa up at the border in, say, texas. just pay for everything in cash and use ATM's and make sure you have an address up in the states and have them transfer the mail down to mexico for you. if you need to talk, I'm here.,
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Cozumeldeb
9/17/2015 10:59 EST
Current USD amount to qualify for permanent residency from the Chicago Consulate is $2588, you will need original and copy of documents showing that you have a job or pension that yields that amount of monthly income after taxes during the previous 6 mos. Which could be your certified retirement papers, checking acct statements..or can show original and copy of proof of investments or bank accounts with a balance of at least $104,000 USD during the previous 12 mos..Visa application which you may be able to download from your local consulate, valid passport + copy of main page, One color picture, passport size front view with no glasses on and with a white background..I've seen the monthly income amt differ by $100+ one way or the other..each state seems to have their own rules..but then that's MX. Worth the hassle though..I would suggest you buy a car down there, we did..way to much trouble to try and get American car through..When you make the move try and sell as much as you can behind..Too costly to bring with you and you can get everything you need there now, you will get hosed by customs...We bought in 2001, not as many options then, but now Home Depot, Costco, Sam's Club, furniture stores..everything you can want now..As to the paperwork any family members are coming with you will need paperwork on them as well, adult or minor.
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Montej
9/18/2015 13:09 EST
One other suggestion I'd make; since you will be getting a US pension open an account in the US with a bank which shares ownership with a Mexican bank. We have an account with BBVA Compass in the US and they are owned by the same group as is Bancomer in Mexico. You can then take money out in Psos in Mexico using your US debit card with no ATM charges and the best exchange rate available as well at any Bancomer in Mexico and no fees on either end.
Good Luck!
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papu34
9/19/2015 10:29 EST
Hello from another retired military ex-pat. Yes, you can live very comfortable in Mexico on $4000 USD. You don't give anything or benefits when you move here. I use USAA for my financial transactions simple because they accustom to outside the US transactions. I use my debit card to obtain pesos (green backs are not accepted) and USAA reimburses me for the ATM fees. If you should come to Ajijic where I live you will find an American Legion group, and a clinic that can give low lever patient care at no cost to you. Your Tricare benefits are not honored here but all medicines are available in generic for and not very expenses. Based on my own experience, I would recommend you try to come for a few days before making up your mind. I looked around and found a 4 day vacation package and visited before I made the final decision. There is a lot more I can tell you if you will contact me at papu1934@gmail.com.
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RVGRINGO
From: Mexico
9/21/2015 13:07 EST
On Banking: Use USAA, for which you are eligible, for all banking needs. Use ATMs for cash with a debit card, asking USAA to raise the daily limit to $1000 USD, or more, to avoid multiple trips to the machine each month. We did that for our 13 years in Chapala. No need for a Mexican bank, which is not very user-friendly in comparison.
On VA benefits: Only service connected conditions are treatable outside of the USA. We moved back to the USA when frequent hospitalizations and medication expense became too much to handle; but you have much more income than we have.
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papu34
9/22/2015 14:35 EST
RVGringo.
The plan you proposed is a good one. too many problems with Mexican banks. On the VA care here, it will help a great deal if you have already qualified with the VA and have a current card. Trying to establish eligibility here is a nightmare.
Having said that, don't expect this clinic to be much more that a class A military med unit. San Antonio is only two hours away from Guadalajara. It's a vet friendly town with excellent care using the Tricare for Program. I would be willing to act a sponsor much like what we had in the service if you are coming to Ajijic. I
decide on this location only because it is a nice place to start your Mexican experience. No more bare base experience for me.
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