Curious about wealthy families moving here from Mexico (loans, lawyers)

[stoneoak]

Originally Posted by getgoing2010

Just for information, I just returned from a 2 week stay in San Miguel de Allende visiting a family who bought land and built a house. Americans can now own land outright in Mexicio except for certain areas like the coast. I also met many Americans there who have lived many years in San Miguel and have given up their homes in the United States. San Miguel and other parts of Mexico have had pockets of US citizens for decades.

you couldn't pay me to step one foot in Mexico.

[amexicano]

Originally Posted by torero

Interesting thread. For anyone who had legitimate questions about this, I think amexicano touched on all the key points. He obviously has inside knowledge
As an immigrant, it is very reassuring to see that most posters here do not see immigration as black and white issue, and discriminate legal and illegal immigration.
For xsa210tx, would feel as strongly about this issue if the immigrants were rich British citizens coming here to spend money and invest?

I do have some insider perspective, as I have some friends that have come to the US under investor visas. My personal case is a little different, as I came here almost 10 years ago when the US-based company for which I was working transfered me to the US and came under a "work visa". Eventually I got a "green card" and are planning to start the process to become US citizens next year. I've always paid income taxes (since day 1, even before becoming "permanent" resident) as well as property taxes (on my two properties) and sales taxes. My "anchor" babies have yet to provide any tangible benefits money-wise (thy are actually quite the money-pit ) or citizenship-wise. In a way, I'm taking a job that could be for an American citizen (although one with many years of muti-national business experience, bilingual, with degree from ivy-league school )

Now, let me tell you about two cases I now and judge by yourselves whether these people hurt or help the US economy.

Case 1: My next-door neighboors are from Southern Mexico. Both come from upper-middle class families, not "wealthy". He has a number of small-businesses in Mexico (a couple casual restaurants, a construction materials distribution company). They visited San Antonio a few years ago and liked it so much that they decided to buy a "vacation" home in town. They only live here 2-3 months per year under tourist visas (during school breaks, although he flyies back and forth every week, as needs to keep running the business). Their kid is not in US school. They pay property taxes on the house. I don't know if they pay any income tax. Thumbs up? Thumbs down?

Case 2: A couple with two kids. He is a lawyer, commuting back and forth from Mexico. She is a dentist, who first came to the US to pursue her dental degree. After going back to Mexico for several years, she came back to the US to pursue higher degree in dentistry and got offered a job here after graduation. They just got their green cards, but he still commutes. He is trying to open a branch of his practice in the US to help US companies with Mexican operations with legal matters. Two kids, both in private school. Bought a house, pay property taxes, she pays income taxes (don't know about him). Thumbs up? Thumbs down?

Of course, I suspect that there are other cases of people who abuse the system. Thing is, we cannot generalize based on color of skin or language they speak.

When I go out with either of them, guess what language we speak among each other? you got it...Spanish. Can I speak English? you bet and we speak it if anyone in our group doesn't speak Spanish, which is also quite frequently.

By the way, investor visas are available for people of every nationality.

[RedRaidrInfantry]

Thumbs up for both. They are stimulating SA's economy.

[getgoing2010]

Originally Posted by stoneoak

you couldn't pay me to step one foot in Mexico.

I don't blame you, I felt nervous about going (we drove). Family was concerned as well, but what the hey, I just retired and mid-50's, I guess I still have some of my stupid moves from when I was younger.

As it turned out, I was pleasantly surprised. Great highways, heavy traffic and day travel made things turn out well. Had a great time -- historic spots, World Heritage Sites and Real de Catorce, and old mining town where you have to go through a 2 mile one-way tunnel to get to it.

If anyone would have tried to stop us and rob us, they'd be run over in 2-seconds flat with all the trailer traffic....lol.

[BenjaminNicholas]

Originally Posted by stoneoak

you couldn't pay me to step one foot in Mexico.

Are you being serious? You need to rethink that, as there are many parts of Mexico that are beautiful, safe and wonderfully cultural. If all you're considering are the boarder towns, you're cutting your nose off to spite your face. Stop digesting the media-driven madness about cartels and try looking into these spots:

Sayulita
Palenque
Cabo San Lucas/La Paz
Chalapa
Mayan Riviera.

Even Mexico City rocks if you know where to go and where not to go. Like any other major city out there, there's good and there's bad.




BN

[flourpower]

It is so sad that some people continue to live their lives based on ignorance and hatred!

[Lee W.]

Amen to that! This would be a better world if people weren't so judgemental based on national or ethnic stereotypes.

[pobre]

Originally Posted by mexguy

If they have visas to investors this means that the US government launched an investigation to verify their incomes are legal and that investments in America they do so are, so they pay enough taxes to get a residence permit.

Rarely does the US "launch an investigation" to determine whether the business is legitimate or viable. The visa is granted after (random) requests for proof of financing, and interviews. A good lawyer can streamline the process. They do not have to have an existing business in Mexico, just be willing to purchase or start one here.

[amexicano]

Originally Posted by pobre

Rarely does the US "launch an investigation" to determine whether the business is legitimate or viable. The visa is granted after (random) requests for proof of financing, and interviews. A good lawyer can streamline the process. They do not have to have an existing business in Mexico, just be willing to purchase or start one here.

The "random" request for proof of financing applies to Tourist visas. Work or Investor visas require a lot of documentation and much more in-depth or even multiple interviews. So much that lawyers (US firms. Mexican lawyers need not apply) are usually required. Process can take months or longer. Background checks are not uncommon and perhaps even mandatory now. Also, those visas are subject to constant review (e.g. whether the business is hiring the promissed quota of US people, etc)

I have a close friend who tried to start a business here under an investor visa. A couple years later he had to go back to Mexico because his business didn't perform as expected and lost his visa. It was a genuine business, but he was in the wrong industry during the recession. They are given very little time to show good performance...

[The Black Irish]

Odelay!!! Who cares they are pumping money into the local economy. Only drawback is that their children have no discipline whatsoever. Next time you see them internationals take a gander at their children. Nine times outta ten they are running around unsupervised. Plus, those women are gosh dang HOT!!!!