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Financial Requirements Increase for Residency Visa in Mexico

If you intend to stay in Mexico for more than 180 days, you will want to apply for a residency visa. One way to qualify for a residency visa is through economic solvency.  The new year brings an increase in the daily minimum wage, and with that increase comes new financial requirements for residential visas in Mexico.  The minimum wage will increase to 123.22 pesos a day. Since the visa requirements are based on the minimum wage, this means the criteria for resident visas will also increase. Please check with the Mexican Consulates in your home town area to compare the financial requirements...

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10 Things You Should Know About the New Health Service in Mexico

The new year brings a new health service to Mexico, INSABI - el Instituto Nacional de Salud para el Bienestar has replaced Seguro Popular. INSABI intends to provide quality healthcare to all people living in Mexico who do not have Social Security benefits through their employer.  What you need to know about INSABI You do not need to sign up; when you need medical treatment, present a National Electoral Institute INE or CURP or birth certificate at the hospital.  This service is free; there are no monthly fees or enrollment fees. The service provides free healthcare on the first and second...

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New Legislature for Abandoned Pets in Quintana Roo

Sadly it is a widespread problem in Mexico, foreigners and locals alike abandoning their pets when they no longer want them. Whether an animal is abandoned to the street due to financial difficulties, an animals' health issues, or just plain cruelty, finally, we may see a little justice for this abuse.   Many dogs and cats are simply left in rental homes, dumped on the highway, or left in the jungle to fend for themselves. Non-profit animal rescue groups in Quintana Roo work tirelessly to rescue, rehabilitate, and rehome these poor animals. Dog shelters and foster-based rescued are overrun with dogs and...

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Rent to Own – A Transaction Agreement

If you are selling your property in Mexico, you may get an excellent offer from a buyer looking for a rent to own situation. The potential buyer may want to live on the property while making substantial payments.  How do you protect your investment and not waste time and money if the buyer defaults? You will need to take extra precautions to protect your interests. We recommend you hire a Mexican lawyer to draw up or at least review any legal agreement you make to ensure you and your investments are fully protected. What type of agreement will protect the potential buyer...

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Mexican Real Estate – Benefits of the Fideicomiso

Obviously, it would be easier and less expensive if you could hold a direct title to your Mexican property. However, the Mexican Constitution states foreigners can not own property within the restricted zone; the fideicomiso is the safest workaround for purchasing this type of property. The primary purpose of a fideicomiso is to satisfy the Mexican Constitution by bestowing the legal title of the property in the name of the trustee. The trustee’s responsibility is to hold and transfer title deed under the direction of the beneficiary (buyer). The Benefits of a Fideicomiso It allows foreigners to purchase real estate within the...

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