Experience Moving To Mexico?

[Nowler]

Hey folks!

Has anyone got an experience of moving to Mexico?
I've been considering my next port of call, and I am thinking Mexico.

It seems I can go there for 180 days easily enough provided you can provide the necessary documents (Payslips, bank statements etc..).
However, I wonder, what if one didn't have a job?
What if they were living off their portfolio?

Anyone got experience of this?
Similar?

 

[Smith2525]

I'd love to go to Mexico for an extended holiday. Tacos all day every day.
Following thread.

 

[Nowler]

Yeah, I'm thinking Mérida or somewhere like that.
I still haven't ruled out Colombia either, but essentially I'm just looking to make some money over here and then when I reach a certain amount, move somewhere cheap and try live off my portfolio.

Worst case scenario is I can't... so at the very least I will have had a nice 2 year holiday lol

Still a lot of work to do before that becomes a reality though.
Just wondering in advance if anyone has any experience of it

 

[wmram]

Can you live with a move from a first world country to a third world country? Language issues, currency issues, lifestyle issues. Have you ever lived in a tropical climate, one where there was no serious effort to keep mosquitoes under control? Can you live with a gringo tax? If something were to go wrong, anything that required experience with the laws and or customs of where you are, can you manage that situation? The idea of leaving home has appeal, especially for the young, but the reality of being an outsider trying to make a new life in a new place may require more time and effort than you want to invest.

 

[J Livermore]

Yeah, I'm thinking Mérida or somewhere like that.
I still haven't ruled out Colombia either, but essentially I'm just looking to make some money over here and then when I reach a certain amount, move somewhere cheap and try live off my portfolio.

Worst case scenario is I can't... so at the very least I will have had a nice 2 year holiday lol

Still a lot of work to do before that becomes a reality though.
Just wondering in advance if anyone has any experience of it

Hi Nowler,

Hope you don’t mind my nosiness but why Mexico?

You also mentioned Columbia which is a little surprising.

If you are interested in living in the tropics have you considered Costa Rica or Belize? Both nations have plenty of natural surroundings as they set aside large chunks of their nation for nature preservation. If you choose Belize the official language is English.

Don’t forget there are plenty of islands in the Caribbean many of which have a crime rate lower than Mexico and a number of them speak English.

Are you looking to get permanent resident status or citizenship someday?

Barbados and Aruba come to mind as places where it’s not too difficult to get permanent residency.

Do a little research before you make any important decisions.

 

[Nowler]

Can you live with a move from a first world country to a third world country? Language issues, currency issues, lifestyle issues. Have you ever lived in a tropical climate, one where there was no serious effort to keep mosquitoes under control? Can you live with a gringo tax? If something were to go wrong, anything that required experience with the laws and or customs of where you are, can you manage that situation? The idea of leaving home has appeal, especially for the young, but the reality of being an outsider trying to make a new life in a new place may require more time and effort than you want to invest.

Some interesting points.
The gringo tax was something of a raw nerve for me as when I was out in Sri Lanka I got roasted by the locals with the prices of things. The way I look at it, if I am moving somewhere because it's cheaper then paying over the odds for things contradicts that.

Then again, I would be happy to pay a little more for things as a compromise (I understand that in poor countries the local prices are enough survive, so Id be happy to pay a little more to help out) - but getting fleeced is a deal breaker.

I guess the best thing for me would be to go on a few month holiday to feel things out. If I don't like one country, then I can then go on a holiday to another and check that out - rinse and repeat until I find somewhere to stay for a few years.


Have I ever lived in a tropical climate, one where there was no serious effort to keep mosquitoes under control?

Does being in Sri Lanka's countryside for a month count?
I have experience with Mozzies, yes. I'm not too fussed about that, currency issues, lifestyle issues etc.. as that's why I want to move. I like to switch things up and embrace the uncertainty. Plus I can speak a little Spanish. Not a lot, but very basics.


Have you any experience/info on moving around such countries for periods of time with no job?
In the absence of a job/payslips, surely proof of financial stability would suffice, right?

 

[Nowler]

Hi Nowler,

Hope you don’t mind my nosiness but why Mexico?

You also mentioned Columbia which is a little surprising.

If you are interested in living in the tropics have you considered Costa Rica or Belize? Both nations have plenty of natural surroundings as they set aside large chunks of their nation for nature preservation. If you choose Belize the official language is English.

Don’t forget there are plenty of islands in the Caribbean many of which have a crime rate lower than Mexico and a number of them speak English.

Are you looking to get permanent resident status or citizenship someday?

Barbados and Aruba come to mind as places where it’s not too difficult to get permanent residency.

Do a little research before you make any important decisions.

Hey bud 🙂

Landed on Mexico/Colombia purely due to it being nice and cheap, and Spanish speaking.
I know a little Spanish, so I wont have to start from scratch in terms of communicating.
That was pretty much it really, lol

Obviously I will look at things more closer to the time - still 2+ years out.

Costa Rica is a possibility if the above is my criteria.
Belize too I guess... but no, I never put much thought into them.

In terms of permanent resident status or citizenship someday... not thought too much about that.
I would be happy to go for a while and then move on to somewhere else. Though it's always nice to qualify for multiple passports, so depending on the duration of stay required, that might be something i'd be interested in.

As I said, I'm still a while away.
Just doing some digging into things at the moment 🙂

 

[wmram]

Some interesting points.
The gringo tax was something of a raw nerve for me as when I was out in Sri Lanka I got roasted by the locals with the prices of things. The way I look at it, if I am moving somewhere because it's cheaper then paying over the odds for things contradicts that.

Then again, I would be happy to pay a little more for things as a compromise (I understand that in poor countries the local prices are enough survive, so Id be happy to pay a little more to help out) - but getting fleeced is a deal breaker.

I guess the best thing for me would be to go on a few month holiday to feel things out. If I don't like one country, then I can then go on a holiday to another and check that out - rinse and repeat until I find somewhere to stay for a few years.


Have I ever lived in a tropical climate, one where there was no serious effort to keep mosquitoes under control?

Does being in Sri Lanka's countryside for a month count?
I have experience with Mozzies, yes. I'm not too fussed about that, currency issues, lifestyle issues etc.. as that's why I want to move. I like to switch things up and embrace the uncertainty. Plus I can speak a little Spanish. Not a lot, but very basics.


Have you any experience/info on moving around such countries for periods of time with no job?
In the absence of a job/payslips, surely proof of financial stability would suffice, right?

You sound young. I'm in my later 60's and retired. I thought about retiring in Mexico or Columbia as well. Be careful with the Columbian tax laws. I did not leave the US when all was said and done because I did not want to learn how to make change in a foreign currency, move money in and out of country, or learn a different language. I did not think that I wanted to go through that at my age. As far as the gringo tax goes, I thought it was less of a money thing and more of an F _ you kind of thing. But all that said if you're of the mind and spirit to try and find a new home base good luck.

 

[Nowler]

You sound young. I'm in my later 60's and retired. I thought about retiring in Mexico or Columbia as well. Be careful with the Columbian tax laws. I did not leave the US when all was said and done because I did not want to learn how to make change in a foreign currency, move money in and out of country, or learn a different language. I did not think that I wanted to go through that at my age. As far as the gringo tax goes, I thought it was less of a money thing and more of an F _ you kind of thing. But all that said if you're of the mind and spirit to try and find a new home base good luck.

I'm 35 soon, but have no children or partner.
Which is how I can just get up and leave when I want to.

I am not looking for somewhere to retire, but rather just a next stop.
Somewhere to stay for a handful of years...

If I can get myself into a position where I can support myself fully from my portfolio (easier the cheaper the country) then I guess I could just try out a few places for a few months. Then if I want to stay for longer I can always figure out the details then I suppose.
J Livermore had a few decent suggestions for locations actually. So plenty of places to get a taste of.

Have you something specific in mind when you warn about Colombian tax laws?

I instantly thought of the gringo tax as an insult rather than a money issue. Realistically if talking about an UK/US earner getting charged over the odds somewhere like Mexico, then amount isn't going to be dramatic. But I take exception to being disrespected. At my age/development, I'd tend to overreact lol.

But at the same time, if it was only a little more and it was a fairly poor country then I'd compromise if they were nice people.

 

[wmram]

Expats who are in Colombia for less than six months out of the year are non-residents. They will only be subject to taxation on income from Colombia, at a flat tax rate of 35%. Expats in Colombia for more than six months out of the year have taxation on all their income. But will be subject to taxation on their income range. For these residents, the progressive tax rate ranges from 0% to 33%.

An individual who spends more than 183 days in Colombia will be a resident in Colombia. However, they may end up subject to double taxation. America does not have an exemption for double taxation with Colombia. This means that you may be a tax resident of both Colombia and America at the same time.
An article from Tax Samaritan website.

 

[Nowler]

Oof...
Double taxation would suck!
Thankfully UK ISA's are tax free, so that's 1 side of the problem sorted.

Cheers for the info though mate. Very helpful

 

[J Livermore]

Oof...
Double taxation would suck!
Thankfully UK ISA's are tax free, so that's 1 side of the problem sorted.

Cheers for the info though mate. Very helpful

Nowler,

I just did a little Google searching and it appears that Belize has an income tax of only 1.75 %.

It gets better than that. They have absolutely no capital gains tax. Even if you buy and sell real estate.

 

[Nowler]

Nowler,

I just did a little Google searching and it appears that Belize has an income tax of only 1.75 %.

It gets better than that. They have absolutely no capital gains tax. Even if you buy and sell real estate.

Really!
That's epic!

I guess we now have another serious contender 😀

 

[tomorton]

If you're heading anywhere on a tourist visa for a long period, say 6 months, make yourself aware of border controls. Many countries won't allow persons to enter unless they have visible means to support themselves financially throughout their stay.

Sometimes the stay's costs can be supplemented by permitted work during the period but its wise to have this arranged before traveling - if not, its not unusual for travellers to a country to be put on the next flight home.

 

[J Livermore]

Really!
That's epic!

I guess we now have another serious contender 😀

Nowler,

I met an Englishman a number of years ago while waiting in line for a hockey game and he mentioned that the UK government doesn’t tax British citizens who are living abroad. Is that true?

If so, that means the US government is about as greedy as a government can get. Our taxman gets us no matter where in the world we live.

 

[Nowler]

Nowler,

I met an Englishman a number of years ago while waiting in line for a hockey game and he mentioned that the UK government doesn’t tax British citizens who are living abroad. Is that true?

If so, that means the US government is about as greedy as a government can get. Our taxman gets us no matter where in the world we live.

Being that I am only living in England 4 years I am not well versed in UK law, but its possible that we have an agreement with certain countries to avoid double taxation.

We have something over here called an ISA, of which 1 type is a stocks and shares ISA.

This is completely tax free (money in, profits and money out) and we can put up to £20,000 (~$27,000USD) in per tax year. So with that I shouldn't have any issues with double taxation.

 

[J Livermore]

Being that I am only living in England 4 years I am not well versed in UK law, but its possible that we have an agreement with certain countries to avoid double taxation.

We have something over here called an ISA, of which 1 type is a stocks and shares ISA.

This is completely tax free (money in, profits and money out) and we can put up to £20,000 (~$27,000USD) in per tax year. So with that I shouldn't have any issues with double taxation.

I was under the belief that you were born and raised in England. Do you have British citizenship? If so, was it hard for you to obtain?

 

[new_trader]

Yeah, I'm thinking Mérida or somewhere like that.
I still haven't ruled out Colombia either, but essentially I'm just looking to make some money over here and then when I reach a certain amount, move somewhere cheap and try live off my portfolio.

Worst case scenario is I can't... so at the very least I will have had a nice 2 year holiday lol

Still a lot of work to do before that becomes a reality though.
Just wondering in advance if anyone has any experience of it

Rather than moving to somewhere cheap, have you ever considered moving to a cheaper lifestyle? I am older than you and only found out about a movement called Van Life about 3 years ago. I have been hooked ever since and dream of one day pursuing an adventure like that, possibly in the USA (Hawaii) or Australia, both countries have a very large nomad community.

I highly recommend watching Bob Wells (considered the guru on van life) youtube channel: Cheap RV Living

There are people who have transitioned to a nomadic life for various reasons so it's highly likely you will find someone you identify with.

 

[Nowler]

I was under the belief that you were born and raised in England. Do you have British citizenship? If so, was it hard for you to obtain?

Nope.
Irish.

Being Irish, I have the right to live and work in the UK for as long as I like.

I don't have British citizenship, but I am considering doing what I need to get a British passport. 2 passports are better than 1.

The Irish allows me to move around the EU and hopefully a British makes it easier to enter common wealth nations.

 

[Nowler]

Rather than moving to somewhere cheap, have you ever considered moving to a cheaper lifestyle? I am older than you and only found out about a movement called Van Life about 3 years ago. I have been hooked ever since and dream of one day pursuing an adventure like that, possibly in the USA (Hawaii) or Australia, both countries have a very large nomad community.

I highly recommend watching Bob Wells (considered the guru on van life) youtube channel: Cheap RV Living

There are people who have transitioned to a nomadic life for various reasons so it's highly likely you will find someone you identify with.

Interesting...
Thanks for that, I will check it out for sure.

I do consider myself a bit of a nomad at heart. I dramatically reduced the amount of items and gadgets I purchased about 10 years ago. Then I got into PC gaming and eating a lot of takeaway food. Basically undone all my good work, lol

I'll check out that guy shortly. Going to pick up a key to my new place shortly, so will have time to watch while I commute on bus.