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I got the impression US Citizens could not own (they could long term lease the land)a home in Mexico. It would be great if I were incorrect. Please let me know.
I got the impression US Citizens could not own (they could long term lease the land)a home in Mexico. It would be great if I were incorrect. Please let me know.
The last I heard you are correct. You can acquire up to a 99 year lease on property but only Mexicans can own their own homes and real property. So if you hope to purchase property there you can't. That also means you don't acquire any equity nor can you leave your property to a relative since you don't really own it. Perhaps things have changed regarding this, but I'm not aware of it.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,735 posts, read 58,090,525 times
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Quote:
Originally Posted by brava4
What European suggestions??
Think Outside the Box.
With cheap airtravel, it is pretty EZ to go between countries (20 - 40 Euro) and even back home to keep in compliance with tourist visa. If you need HC, then you need to seek permanent status, which is possible in many European countries. (Thank goodness). Of course MANY retirees are not about to do this , nor even THINK of traveling around on a regular basis.
I would expect more countries to open up to USA retirees, as we have lots of money . 4 additional countries have opened up in the last few yrs (Since A(?)CA arrived)
I really don't get the European suggestions here. Last time I checked, there's no such thing as a retirement visa in any of the E.U countries or rich non-EU countries (like Switzerland). You either need a job or you have to get out. Now, dodgier countries like Moldova are a different story.
I researched France, Spain and Portugal, and do not see any difficulty with getting a resident visa in any of those countries, as a retiree with an adequate source of income.
There are a few places where medical infrastructure is superb: as good as the very best American hospitals. One place is Bangkok, Thailand, with it's famous Bumrungrad Hospital or Chulalongkorn University Hospital ... at costs much, much less than their American counterparts like Johns Hopkins or Cleveland Clinic or Barnes Jewish.
Care to provide llnks to prove those two hospitals are at the Pinnacle of American hospitals in quality?
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,735 posts, read 58,090,525 times
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Quote:
Originally Posted by SFBayBoomer
Care to provide llnks to prove those two hospitals are at the Pinnacle of American hospitals in quality?
research, no (who funds this? not the Thai government or Academia (Their excellent DR's are trained in the West or (Australia)
care (?)... when is the last time you had care(?) in a USA hospital?
Asia care borders on pampering!
For many of us w/o HC, the USA is no longer an option (pre -age 65), soon to increase, and will long before we get there.
My care in Thailand has been exceptional, but I was not a 'research patient'
One thing amazing is the SPEED of getting in, doing paperwork, seeing staff, getting the results, paying... Ironically that can all be done in under an hour. Once you are in their system, much faster.
Think of a stranger w/o insurance showing up at a USA hospital and getting registered, examined, treated, and pay in less than an hour. (One Thailand hospital trip for a physical for work visa was under 30 minutes. new patient registration, cards, exam, post exam followup, paying). poof... a done deal!
I really don't get the European suggestions here. Last time I checked, there's no such thing as a retirement visa in any of the E.U countries or rich non-EU countries (like Switzerland). You either need a job or you have to get out. Now, dodgier countries like Moldova are a different story.
Look again. Spain has retirement visas, for sure. We looked into it, but because of the private health insurance requirements we decided against it, plus the distance to get back to US to use our Medicare coverage.
I did a quick search and I see in the Greenville, KY area there are studio apartments starting at $500 a month ... which is half of what rents go for in my town, and less than one third of the rents in my neighborhood
Yes, let's move to a dying coal town where 19% of the population lives under the poverty line.
The last I heard you are correct. You can acquire up to a 99 year lease on property but only Mexicans can own their own homes and real property. So if you hope to purchase property there you can't. That also means you don't acquire any equity nor can you leave your property to a relative since you don't really own it. Perhaps things have changed regarding this, but I'm not aware of it.
I can't believe the amount of incorrect info on this thread.
We have owned outright our properties in Central MX.
There are coastal and border rules on outright ownership, property within 50 km of coast or 100 km of border.
On those coastal or border properties you get what is called a Fideicomiso.
You certainly earn equity and can buy and sell whenever you want. Friends of ours turned a tidy profit after a few years of ownership of a home under a Bank Trust (Fidelcomiso) in Mazatlan. Another friend did well on a house in Merida, also within the coastal zone under a Bank Trust. After selling these 'starter' homes they bought larger nicer homes in MX.
You can certainly leave the property to your heirs, etc.
Fideicomiso or Bank Trust
Any foreigner or Mexican National can constitute a Fideicomiso (the equivalent to an American beneficial trust) through a Mexican bank in order to purchase real estate anywhere in Mexico, including the Restricted Zone. To do so, the buyer requests a Mexican bank of his/her choice to act as a trustee on his/her behalf.
The bank obtains the permit from the Ministry of Foreign Affairs to acquire the chosen property in trust. The Fideicomiso can be established for a maximum term of 50 years and can be automatically renewed for another 50 year period. During these periods the registered owner has the right to transfer the title to any other party, including their family members.
The bank becomes the legal owner of the property for the exclusive use of the buyer/beneficiary who has all the benefits of a direct owner, including the possibility of leasing or transferring his/her property rights to a third party or to a pre-appointed heir. During this period, the foreigner is considered to be a Mexican National.
Last edited by dothetwist; 04-03-2017 at 05:58 AM..
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, nor even THINK of traveling around on a regular basis.
. 4 additional countries have opened up in the last few yrs (Since A(?)CA arrived)
