Banking is convenient and easy to do in Mexico. There is a universal ATM network spread out across the country and rarely will you have to search far for one of them (unless you are in rural Mexico.) There are five major banks in Mexico, Bancomer (which is owned by BBVA in Spain), Banamex (which is owned by CitiBank and Group of USA), Banco Santander (which is partially owned by Bank of America), HSBC, and Banorte.
In addition, all major credit cards are accepted in the larger urban department stores, grocery stores and organizations, while only cash is accepted in the small mom-and-pop stores known as tiendas and out in the country side.
In order to open a bank account in Mexico, you must be able to provide the following; An FM2 or an FM3 (see visa section), your passport, proof of residency (a bill with your address on it) and two references who can vouch for your financial stability. Checking accounts are almost non-existent in Mexico, most people use cash. If you decide to keep your U.S. or Canadian bank account, you will be able to use your universal bank card at any of the ATM's, or your major credit card to take out cash advances.
Buying Property
Foreigners are allowed to purchase property in Mexico, but the process is quite different from the United States or Canada. First, there is no title insurance. The entire process is handled by a Notary Public (notario público). Notary Publics operate differently than in the states-they are completely authorized to handle property sales, and are, in fact, the best way to handle a transaction. Some attorneys will try to become involved, but they generally serve no purpose and tend to charge high fees and hold up the process.
Once you've found a property that you're interested in, simply take everything to the notary public and allow him to check the property to make sure that everything is in order. Sign all contracts in front of him (after he's reviewed them) and exchange all monies in his presence. A notary public is to be trusted because he is held responsible by the government for any errors that he makes.
Healthcare and Medical Treatment
There are good, knowledgeable doctors in Mexico. Equally, there are some doctors in Mexico who are less well informed. It is important to find a good private doctor, even if you sign up for the national health care program, IMSS.
Mexico affords its foreign visitors the chance to enroll in the national health care program (IMSS). The care varies with this service. Depending on what area you are in, you may find a small clinic or a large, modern hospital. Under this plan, you won't be able to choose your physician as you would should you seek private medical care. Most people will retain a private physician, and then ask that physician to refer you to an IMSS clinic or hospital when extensive tests or labs are needed. In addition, if you need a specialist and are referred by a private physician, you will be given an appointment with the best expert in town.
In order to enroll in the program, you will need to apply during the months of January, February, July or August, and pay about $225 per year. You will be subject to an examination that consists of nothing more than a doctor taking your blood pressure, listening to your heart, and possibly be asked to give blood and urine samples. You will also be asked to sign a medical statement. You are eligible for this program regardless of your immigration status.
Finally, once you have been accepted into the program, it will take six to nine months for your membership to become active.
Health care in Mexico is inexpensive and private insurance is unheard of. You can expect to pay anywhere from $2 for a quick consultation, to $10-20 for a more extensive evaluation. This pertains to private doctors as well as a visit to a hospital for a routine or even some emergency visits.
Mediation is also inexpensive in Mexico, and it is possible to purchase items, such as antibiotics, over the counter. It's important to be aware that some "like" medications can be stronger or use different chemicals. Always check with your doctor before taking a Mexican brand medication.
Social Security
Most expats living in Mexico have their social security pensions sent to Mexico, or deposited in their bank accounts.
Until the year 2004, Americans working in Mexico were subject to double social security taxation, from both the Mexican government and the United States, but an agreement signed by George Bush and Mexican President Vincent Fox has eliminated that. In addition, those workers will be able to count money earned in Mexico toward the amount that will be used to calculate their social security benefits.
Foreigners living in Mexico are eligible to sign up for the National Health Program, IMSS. See the "Health and Medical Treatment" section for more information.
Utilities (Electricity, Gas, Water)
Electricity in Mexico is generally affordable, but again that depends on the city you live in, as well as the neighborhood. In lower-income to middle class neighborhoods in an average size city, a good estimate would be anywhere from $10-50 per bill, but some people who live in higher-end areas pay upwards of $200 or more. Electricity is billed every two months.
Water is also billed every two months, and again, the bill will depend on where you live. You can pay as little as $5 every two months or as much as $50. It's wise to ask to see previous bills before deciding to rent or buy a home.
Both electric and water bills can be paid at most banks, major grocery stores, some convenience stores, or the electric and water company.
Gas is brought to houses by trucks that continuously drive the streets, ringing "gas bells" or announcing their presence with a loudspeaker. Generally-unless you are in a very rural area-you can count on at least one of these trucks passing by your home each day. The price of natural gas (which is set by the government) has increased greatly over the past two years and is displayed prominently on the side of the trucks. For a small tank of gas that will last the average household 2-3 weeks, the present price (September 2005) is around $36.
Communications in the densely populated areas of Mexico are rapidly expanding and keeping up with the rest of the world. Some rural areas are still waiting for phone lines.
Until recently, Telmex was the only telephone provider, and is still the largest by far. You can get a phone line for your home for about $30 per month. That will allow you 100 local phone calls, with each call after that charged a small fee. Most people in Mexico rely on cellular phones for their personal communication. You can either purchase a monthly plan (about $30 for 150 minutes per month), or buy a phone that relies on phone cards. The cards can be purchased in varying denominations, and are typically about .50 per minute.
The one area of communication that doesn't seem to keeping up with the rest of the world is the mail system. It is generally considered unpredictable and slow. In fact, most Mexicans drive their monthly bills to their destinations rather than placing them in the mail because, quite simply, they can't be certain that they'll ever arrive.
Internet access is readily available in most areas, and even DSL is available in many places. You will pay about $35 per month for the slowest speed DSL, with the charges going up as the speed increases. Internet cafes are abundant, and with rates ranging from $1 to $2, are fairly affordable.
Television (both local, cable and satellite) is available in most areas-again unless you are in a rural area. Some of the providers are Cablevision, Multivision, Sky, and DirecTV.
Driving and Public Transport
It's easy get around Mexico in a car. You can use your own driver's license and either bring in your own car or rent one while in Mexico. (All the major rental car agencies have a presence here.) It's important to be watchful and act as a defensive driver when driving in Mexico, because traffic rules aren't followed closely by the general public.
Getting around in Mexico without a car is also quite simple because it has one of the best public transportation systems available.
Taxis are abundant and affordable. However, you should be wary of accepting a ride from one of the well known green "beetle" taxis (mostly in Mexico City) because they are considered dangerous (they have no back door, and therefore no escape route should the driver have bad intentions.) However, there are a multitude of other taxis that will take you anywhere you want to go.
Buses are ubiquitous in most cities with routes which spread across the cities in question and usually even include the more rural areas of town. They are incredibly inexpensive (generally about .35 per person).
If you want to travel throughout Mexico, you will find an extensive system of buses that will take you anywhere you want to go. There are two types of bus travel-budget and first class-and it's recommended that you always take first class. (The budget buses stop every couple of miles to pick people up from the side of the road, and generally don't have restrooms on board.)
Mexico City has a subway system that is extensive and affordable. It can get very crowded during rush hour, but keep in mind that the first two cars are reserved for women and children to keep their ride more comfortable.
Retiring and Pensions
There are many reasons for retiring to Mexico. Some people claim that the climate is what they enjoy most, others cite the friendly people and cultural diversity, while yet others say it all comes down to money. It's true that your pension will go a lot farther in Mexico. And you won't have to worry about losing your benefits if you ar ean American and you retire to this diverse land - the U.S. government will forward your social security checks.
Mexico offers retirees a one-time benefit of importing all of their household goods, car, boat and even an airplane with no import taxes. This, combined with the rich experiences and reduced cost of living, makes Mexico the retirement destination of choice for approximately 600,000 Americans.
Taking Your Pets
The process of bringing your pet into Mexico is relatively straightforward. First of all, it's a relief for many people when they find out that there is no quarantine period when bringing a pet into Mexico. But there are two other requirements.
The first thing you'll need is a vaccination certificate from a veterinarian that shows your pet has been vaccinated for rabies, hepatitis, PIP and Leptospirosis. Next, you'll need to have an official health certificate from a veterinarian that was issued no longer than 72 hours before crossing the border.
You are limited to bringing in two large pets at the border, but if you talk to the consulate before your trip, it's possible to bring in all of your pets.
This website provides Relocation-to-Mexico information, Real Estate listings in and around the Ajijic and Lake Chapala areas of Mexico, tips for Canadian and American and other Expats retirees, as well as links to Professionals that Lynda MacMahon works with and whose services she highly recommends. Lynda MacMahon is a successful and award winning RealEstate Professional with a proven track record. You will also find testimonials from her clients,articles on retiring in Mexico, maps of Mexico's Lake Chapala area, currency converters and other information. Featured is an enjoyable video of the Ajijic area.
