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Power of Attorney in Mexico

Power of Attorney- POA in Mexico, like other countries around the world, can be established by granting one or several people sufficient authorization to represent you in one or more acts to be held in Mexico. We recommend that a POA be tailored to whatever your intentions are in Mexico; these can be divided into: Powers of Ownership - Performing acts related to Real Estate. Banking Powers - Performing all kinds of acts related to opening and managing bank accounts. Administration Power - This power will be used for all types of procedures related to any public administration body and even...

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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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Making Changes to an Existing Fideicomiso

Most foreigns who have purchased property in Mexico have the property held in trust (fideicomiso). The exceptions for requiring a fideicomiso are if the property is outside of the restricted zone or the foreigner has obtained Mexican citizenship.  The restricted zone is defined as land located 100 kilometers from the borders and 50 kilometers from the coast of Mexico. Although the bank is the owner of the property on paper, the property is not a bank asset, and the beneficiary has all rights over the property, including the rights to sell, rent, remodel, and bequeath to their heirs. Over time the property...

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Temporary Residency in Mexico – What is Your Expiration Date?

The first Temporary Resident Visa is typically granted for one year; once your first visa is up for renewal, you may renew for 1,2, or 3 years. At the end of the 3rd year, you will apply for permanent residence, which does not expire.  As a temporary resident holder, it is imperative to be aware of your expiry date. Allowing a resident visa to expire will void your status in Mexico, and you will need to initiate the process from scratch at a Mexican Consulate abroad. When can I begin the renewal process of my temporary visa? Within 30 days before the visa’s...

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Mistakes That Will Cost You Your Residency in Mexico

We receive many inquiries from foreigners who have accidentally canceled their residency visas because they are unaware or did not follow the proper procedure when leaving and entering Mexico. These mistakes will result in having to initiate the residency process again and possibly explaining to INM why you attempted to mislead them.   It is essential to understand the procedure for entering and exiting Mexico when you are in the middle of a residency procedure. As well, you must follow the proper steps if you hold a residency visa.  If you must leave Mexico before your residency process is complete, you need to...

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Retiring in Mexico – Maintain Your Health by Volunteering

Moving to Mexico means a lower cost of living and the opportunity to retire sooner, and if you retire early, you probably are not ready for a rocking chair. There are plenty of activities to fill your days in Mexico, but if you are looking to give back and meet amazing people, volunteering may be what you are looking for. Whether you bring experience from your previous employment or you are interested in learning new skills, your time is valuable, and there are many opportunities for mature adults to make a difference in the community.  Single retirees that relocate will meet like-minded...

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